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.
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.
|Type of company||IBC|
|Common or civil law jurisdictions||Common|
|Shelf company availability||Yes|
|Time to incorporate||One day but a further two days is required for delivery of documentation from the registry.|
|Min. annual duty or franchise fee||N/A|
|Annual return filling fee||N/A|
|Disclosure of beneficial ownership||Not permitted|
|Standard minimum paid up capital||US$1000|
|Standard authorised share capital||US$50, 000|
|Permitted currency of capital||US$|
|Minimum number of shareholders||1|
|Minimum numbers of directors||1|
|Local directors||Not required|
|Company secretary||Not Required|
|Public record of directors||No|
|Public record of shareholders||No|
|Location of directors meeting||Anywhere|
|Location of shareholders meeting||Anywhere|
|Telephone board meeting||Yes|
|Access to Double taxation treaty||None|
|Requirement to file account||No|
|Requirement to keep account||Yes|
|Requirement to file annual return||No requirement to file annual return|
|Change in domicile||Permitted|
|Local registered address||Yes and at the address of licensed local registered agent|
|Who can incorporate?||Registered Agent|
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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.