E M P LOY E R R E G I S T R AT I O N S New Employers A condition of the Cook Islands Government ERP was that an employer, whether they were a sole trader, partnership, company or other entity, had to be registered with both the Revenue Management Division (RMD) and the CINSF. Prior to COVID-19, the CINSF had 297 registered employers. In the months that followed the announcement and launch of the ERP, the CINSF registered 1130 new employers taking our total number of employers to 1427.
The entire resource of the CINSF office was utilized to process the registrations, working 7 days a week and long into the nights, over a period of almost 4 months to bring all the employers into line with our know you customer (KYC) and antimoney laundering requirements, to protect the integrity of our database.
Whilst the CINSF registered a few historically non-compliant employers, the vast majority of new employers were sole traders, accommodators with one or more homes in the tourism market, market vendors, and employers from the Pa Enua.
A N N UA L R E P O RT 2 0 2 0 | Cook Islands National Superannuation Fund | 15
