Cook Islands Trust Boom Fuels Fintech and Regtech Opportunities

The Cook Islands financial services sector has experienced record growth, with international trust registrations rising to a new high of 433. This marks a 42% increase over the past year and an almost 90% increase over two years.

The expansion is attributed to the jurisdiction's reputation for asset protection trusts, which have become increasingly sought after by overseas clients, particularly in the United States. Financial and insurance services now contribute more than NZ$48 million to the Cook Islands economy, accounting for 8.5% of real GDP.

Southpac Group, a Tauranga-based firm, has pointed out that New Zealand technology firms are well-positioned to serve this market due to the close relationship between New Zealand and the Cook Islands, as well as their shared legal and regulatory traditions.