11 Nov 2013

Businesses in Cook Islands struck off for not paying fees

6:55 am on 11 November 2013

In the Cook Islands, nearly 80 businesses have been struck off the companies register for failing to pay their annual fee.

However, several of those businesses contacted by the Cook Islands News still had their doors open.

The Ministry of Justice issued a public notice last Tuesday with a list of domestic companies being dissolved with immediate effect.

A senior company officer Ruth Areai says the ministry gives every company three months' warning to pay their annual incorporation fee, which is due before July the 1st each year.

That fee ranges from 20 to 1000 NZ dollars depending on the size of the company's capital.

She says this year 78 companies failed to pay and they have now been struck off.

She says most of the companies probably ceased trading some time ago but those still operating are now doing so illegally.

She says those companies still trading can be brought before the court, but she adds they are unlikely to suffer that fate as the Ministry does not have staff numbers to proceed with that action.