The Cook Islands' government actively encourages economic investment and the establishment of new enterprises and business activities that make a positive contribution to the economic and social development of the country. All foreign investment in the Cook Islands is governed by the Development Investment Act 1995-1996. The Act provides for general investment regulations and requirements.

•    The Development Investment Act 1995 - 1996

•    All foreign organization or companies wanting to set up in Cook Islands must first obtain approval and register their planned activities.

•    The Leases Restrictions Act 1976

Does not allow freehold ownership of land, persons may lease land up to five years and any longer period has to be approved by a Committee established under the Act.

•    The Entry Residence and Departure Act 1977

Any one other than Cook Islanders and permanent residents wanting to live and work must first obtain a residence permit.

Every foreign enterprise wishing to carry on business in the Cook Islands where foreign equity exceeds 33% must apply for registration with the Business Trade Investment Board (BTIB). Foreign investment applications and the associated investment incentives are also reviewed by the Business Trade Investment Board.

Other sector specific investments shall be subject to the appropriate legislations covering the relevant sectors.

Investment areas and activities which are in the scope and capability of Cook Islanders are set aside as reserved investment areas, however, a number of investment areas have been identified as priority investment areas and are encouraged.

These priority investment areas include:

•   Tourism

•    Agriculture and livestock production;

•    Fisheries and marine production;

•    Manufanufacturing; and

•    Outer islands development;

Applications for incentives must satisfy certain investment criteria's before approval is granted. The types of investment incentives available to investors include import levy exemptions and work and residence permits. All areas not covered under "Priority Investment Areas" are deemed reserved investment areas.

Further information can be accessed through the Business Trade Investment Board.