Individual Fees Guide

Cook Islands Limited Liability Company / Nevis Limited Liability Company / Cook Islands International Company / Nevis Business Corporation.

Company must either be owned by an international trust purchased at all-inclusive package rate or act as a private trustee company of such a trust.

Cook Islands Limited Liability Company / Nevis Limited Liability Company / Cook Islands International Company / Nevis Business Corporation.

Includes fees for establishment and maintenance of a company bank account with Southpac-approved custodian.

Includes fees for establishment of a company bank account with Southpac-approved custodian and annual fees for account maintenance as well as for the appointment of a Southpac corporate management company.

Annual fee for provision of a Southpac company to act as manager/director/protector of a company purchased at all-inclusive package rate.

Annual fee for provision of a Southpac company to act as corporate protector of a trust purchased at all-inclusive package rate.

Trustee services are services performed by or on behalf of the trustee in the administration of the trust and management of trust assets. They include (but are not limited to) accepting assets into the trust; dealing with settlors, beneficiaries, attorneys and other persons in relation to trust business; reviewing documentation related to trust transactions; managing distribution requests; reviewing and executing tax documents and financial/asset information; and providing due diligence to financial institutions.

Southpac corporate protector companies in the Cook Islands, Nevis and New Zealand are available for appointment as trust protectors for trusts with or without a Southpac trustee. Any work undertaken by or on behalf of a corporate protector in the exercise of its functions as a protector is in addition to the annual fee and is charged separately at hourly rates.

This one-off fee is payable where Southpac is identified as a Successor Trustee of a trust and agrees to assume the role of trustee in agreed circumstances (usually involving an event of duress). The fee includes review of trust documentation and preliminary client due diligence. Time required for drafting amendments to an existing trust agreement to incorporate necessary successor trustee provisions is chargeable separately at hourly rates. If Southpac is subsequently appointed as a trustee of the trust then Southpac’s trust establishment and renewal fees in place at that time will apply from appointment. Subsequent appointment as trustee is contingent upon approval of updated client due diligence at that time.

This fee is payable when a trust fund is distributed or where Southpac resigns or is removed as a trustee, including where a trust redomiciles. It includes a review of the trust instrument to ascertain appropriate processes; management of final distributions and account closures; drafting necessary documentation; liaising with the Registrar as required; and maintenance of records for six years after termination. Increased fees may apply in more complex situations.

Where a trust’s registration lapses for non-payment of renewal fees this fee is also payable before the trust is wound up and a final distribution made, together with a compensatory $1,000 risk premium for each year Southpac has continued to be a trustee without receiving payment following lapse of registration.

Includes company formation documents; provision of a registered agent and dedicated client services officer; full compliance and risk review and maintenance of necessary due diligence; government registration and renewal fees; and maintenance and safe custody of company records. Additional fees may apply where an existing company redomiciles to the Cook Islands or Nevis from another jurisdiction.

Includes company formation documents; provision of a registered agent and dedicated client services officer; provision of resident company secretary for Cook Islands companies; full compliance and risk review and maintenance of necessary due diligence; government registration and renewal fees; and maintenance and safe custody of company records. Additional fees may apply where an existing company redomiciles to the Cook Islands or Nevis from another jurisdiction.

Company services are services performed by Southpac in the administration of the company. They include (but are not limited to) dealing with members, managers, attorneys and other persons in relation to company business; reviewing documentation related to company transactions; reviewing and executing tax documents and financial/asset information; and providing due diligence to financial institutions

All Nevis LLCs and IBCs are required to file a Simplified Tax Return with local tax authorities during each year they are registered. This optional fee includes liaising with company managers and principals to obtain the necessary information for filing and managing the online filing process on behalf of the company. This service is provided free of charge for companies included within all-inclusive packages.

Clients desiring additional privacy and asset protection may wish to appoint a Southpac company to act as a LLC manager (Cook Islands/Nevis) or IBC director (Nevis only) pursuant to a corporate management agreement for an additional annual fee. Corporate secretary services for IBCs are also available and nominee member/shareholder services can be offered in some circumstances. Any work undertaken by or on behalf of a corporate officer in the exercise of its functions is in addition to the annual fee and is charged separately at hourly rates.

This fee is payable when an LLC or IBC is dissolved or where Southpac resigns or is removed as registered agent, including where a company redomiciles. It includes a review of company documentation and legislation to ascertain appropriate termination or transfer processes; drafting necessary documentation; liaising with the Registrar as required; and maintenance of records for six years after termination. Increased fees may apply in more complex situations. Where a company’s registration lapses for non-payment of renewal fees this fee is also payable before the company is formally dissolved and a final distribution made.

Includes foundation documentation; provision of registered foundation office and dedicated client services officer; full compliance and risk review; government registration and renewal fees; safe custody of essential foundation records; and reasonable time and attendance in relation to the establishment of the foundation.

Foundation services are services performed by Southpac in relation to the administration of the foundation. They include (but are not limited to) dealing with founders, beneficiaries, attorneys and other persons in relation to foundation business; reviewing documentation related to foundation transactions; reviewing and executing tax documents and financial/asset information; and providing due diligence to banks and investment advisors.

Southpac companies in the Cook Islands and Nevis are available for appointment as foundation council or board members, secretaries or enforcers. Any work undertaken by or on behalf of a corporate foundation officer in the exercise of its functions is in addition to the annual fee and is charged separately at hourly rates.

This fee is payable when a foundation is dissolved or where Southpac resigns or is removed as registered agent, including where a foundation redomiciles. It includes a review of foundation documentation and legislation to ascertain appropriate termination or transfer processes; drafting necessary documentation; liaising with the Registrar as required; and maintenance of records for six years after termination. Increased fees may apply in more complex situations. Where a foundation’s registration lapses for non-payment of renewal fees this fee is also payable before the foundation is formally dissolved and a final distribution made.

One off up-front fee for the completion of documentation in relation to an account opening with an offshore custodian with which Southpac holds an existing relationship. The fee is reduced by $500 for account openings with non-Swiss custodians. Includes review and completion of account opening forms; collating due diligence documentation; preparing necessary resolutions; and liaising with financial institutions and investment managers as required. Payable irrespective of whether account opening is successful.

One off up-front fee for the completion of documentation in relation to an account opening with an offshore custodian with which Southpac does not hold an existing relationship. Higher fees may apply for more complex account openings. Includes review and completion of account opening forms; collating due diligence documentation; preparing necessary resolutions; and liaising with financial institutions and investment managers as required. Payable irrespective of whether account opening is successful.

To maintain an entity account. The fee covers receiving bank statements, performing reconciliations, maintaining files, provision of account signatory, and is charged annually with the entity renewal fee following a successful account opening.

For accounts using a custodian with which Southpac has no formal relationship there is a 0.10% monitoring and supervisory fee. This fee covers maintenance of the account and regulatory requirements and is charged in addition to the account maintenance fee. The fee is charged quarterly in arrears on the closing account balance.

Hourly time and attendance charges apply for accounting services work including the preparation of annual entity accounts compliant with generally accepted accounting principles (GAAP) and international accounting standards (IAS); the preparation of annual financial statements; financial reviews; preparation of tax reporting information; due diligence on sale and purchase of assets; and preparation of related party financial statements. Subject to minimum fee of $1,500 per entity.

For the provision of a Certificate of Good Standing, Incumbency, Current Status or other equivalent certificate which is either prepared by Southpac, as registered agent, or obtained from the Registrar. Fee includes staff time and disbursements.

Covers staff time involved in making a notary appointment, travelling to notary, facilitating notarisation and all document handling (including location of original documents if required).

Covers staff time involved in making a notary appointment, travelling to notary, facilitating notarisation, arranging apostille appointment and travel to same and all document handling (including location of original documents if required).