The Cook Islands Yacht Squadron (CIYS) was established in 2006 to create a fast and efficient way for yacht owners to fulfill ownership requirements. Members of the Cook Islands Yacht Squadron (CIYS) are eligible to have their yacht registered in the Cook Islands without having to register a company. The definition of person includes companies and trusts as well as individuals or partnerships of individuals. In this way foreign corporation can become a member of CIYS without having to register that corporation in the Cook Islands.