Bermuda vs Cook Islands: which jurisdiction wins?

Bermuda vs Cook Islands — both credible, very different trade-offs. Below: side-by-side on the variables that actually move the decision.

	Bermuda	Cook Islands
Tax headline	0% (15% CIT for in-scope MNEs from 2025)	0% on foreign-sourced income
Formation days	7	5
First-year cost	$6,500	$3,500
Treaties	Limited	Limited
Substance	Economic Substance Act 2018	Light
Banking	Butterfield, HSBC Bermuda, Clarien	Limited; asset-protection focused

Talk to a partner before you incorporate.

Wrong jurisdiction, wrong substance, or wrong bank shortlist is a 12-month problem. A 30-minute briefing fixes 80% of it.