Marshall Islands


Beautiful landscape of Tropical Beach

 

 

The Marshall Islands, officially the Republic of the Marshall Islands is an island country located in the northern Pacific Ocean. Geographically, the country is part of the larger island group of Micronesia, with the population of around 68,000 people spread out over 34 low-lying coral atolls, comprising 1,156 individual islands and islets. The islands share maritime boundaries with the Federated States of Micronesia to the west, Wake Island to the north, Kiribati to the south-east, and Nauru to the south. The most populous atoll is Majuro, which also acts as the capital.

Politically, the Marshall Islands is a presidential republic in free association with the United States, with the US providing defence, funding grants, and access to social services. Having few natural resources, the islands’ wealth is based on a service economy, as well as some fishing and agriculture, with a large percentage of the islands’ gross domestic product coming from United States aid. The country uses the United States dollar as its currency. The majority of citizens of the Marshall Islands are of Marshallese descent, with small numbers of immigrants from the Philippines and other Pacific islands. The two official languages are Marshallese, a member of the Malayo-Polynesian languages, and English.

Incorporation

Type of company: International Business Company or IBC. An IBC can take the form of company limited by shares, company limited by guarantee, company limited by shares and guarantee, unlimited company and dedicated cell company.

Who can incorporate: Registered Agent.

Time to incorporate: One day, but a further two days is required for delivery of documentation from the registry.

Registration fee: N/A

Shelf company availability: Available

Taxation: The Marshall Islands statutorily exempts non-resident companies from taxes.

Minimum annual government fee: US$100

Disclosure of beneficial owner: Not permitted.

Bearer shares: Yes.

Standard minimum paid up: US$1000

Standard authorised capital: US$50, 000

Permitted currency of capital: US$

Minimum number of shareholders: One.

Minimum number of directors: One.

Corporate directors: Not Permitted.

Local directors: Yes.

Company secretary: No.

Company seal: Option.

Public record of directors & shareholders: No.

Location of directors and shareholders meeting: No.

Telephone board meeting: Yes.

Access to Double Tax Treaty: None.

Requirement to file account: Yes.

Requirement to keep account: Yes.

Requirement to file annual return: No.

Change in domicile: Allowed.

Local registered office address: Must be the address of registered agent licensed in Marshalls Islands.

Data Sheet

Marshall Island Data Sheet – Summary

Type of companyIBC
Common or civil law jurisdictionsCommon
Shelf company availabilityYes
Time to incorporateOne day but a further two days is required for delivery of documentation from the registry.
Min. annual duty or franchise feeN/A
Annual return filling feeN/A
TaxationNil
Disclosure of beneficial ownershipNot permitted
Bearer sharesYes
Standard minimum paid up capitalUS$1000
Standard authorised share capitalUS$50, 000
Permitted currency of capitalUS$
Minimum number of shareholders1
Minimum numbers of directors1
Corporate directorsPermitted
Local directorsNot required
Company secretaryNot Required
Company sealOption
Public record of directorsNo
Public record of shareholdersNo
Location of directors meetingAnywhere
Location of shareholders meetingAnywhere
Telephone board meetingYes
Access to Double taxation treatyNone
Requirement to file accountNo
Requirement to keep accountYes
Requirement to file annual returnNo requirement to file annual return
Change in domicilePermitted
Local registered addressYes and at the address of licensed local registered agent
Who can incorporate?Registered Agent

Banking Options

Click the link below to see the banking option we have for Marshall Islands Company.

Marshall Islands Company Banking Option

 

Inquiry

How can I get more information on company formation in Marshall Island?

Please contact us if you wish to open a company in Marshall Island and we will be pleased to discuss your Marshall Island offshore company formation matters in greater detail.

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