Opening a bank account in the Cook Islands

Hi all,

is it difficult for expats to open a bank account in the Cook Islands ?

Which documents are required to open a bank account in the Cook Islands ?

How long does it take to open it ?

Is there any restriction for expats regarding the services (loans for instance)  ?

Which bank would you recommend ?

Thanks in advance for your participation,

Julien

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Thanks for the tips dieselcop!;)

Harmonie.

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Where are the answers to this question - Opening a bank account in the Cook Islands?

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which documents ase required to open a bank account in the cook island?

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lorreta wrote:

which documents ase required to open a bank account in the cook island?


Hi and welcome to Expat.com.

Perhaps you could contact banks in the Cook Islands for the information you are seeking.

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There are basicly 3 banks on Cook Islands.
There are also a bunch of off-shore investment fund companies.

The banks.

Getting loans..... I would not like to do that. Interest rates are to say the least.... staggering.
Today 2014-07-13 I notice BCI intersts are:
Home Loan 8,99%
Business loan 8,20%
And the term deposit rate is 4,40%.

Banks are
Bank of Cook Islands http://www.bci.co.ck
ANZ https://www.anz.com/cookislands/en/personal/
Westpac http://www.westpac.co.ck/

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nice information

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Term deposits are in which currency NZD or AUD? Both currencies are bad for forex players right now. Term deposits would not help if accounts are in NZD or AUD

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All deposits are in NZ dollars.
Doing business by Forex is always bad anyhow. Forex is good for the tourist traveler that goes to the sun ones a year but it is much less loss to transfer the money between banks directly.

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