| Main corporate features | |
| General | |
| Type of Company | IBC |
| Type of Law | Common |
| Shelf Company Availability | Yes |
| Company Registration Period | 2-3 days |
| Corporate Taxation | Nil |
| Double Taxation Treaty Access | No |
| Automatic Information Exchange Agreement | No |
| Share capital | |
| Standard Currency | US$ |
| Permitted Currencies | Any |
| Minimum Paid-Up Capital | US$100 |
| Bearer Shares | Yes |
| Directors | |
| Minimum Number | One |
| Residency Requirement | No |
| Publicly Aсcessible Records | No |
| Board of Directors’ Meeting Location | Anywhere |
| Shareholders | |
| Minimum Number | One |
| Residency Requirement | No |
| Publicly Aсcessible Records | No |
| Place of holding of Meetings of Shareholders | Anywhere |
| Company Secretary | |
| Secretary Appointment | Yes |
| Keeping of records | |
| Preparation Requirements | Yes |
| Audit Requirements | No |
| Annual Return | No |
| Account Filing Requirements | No |
| Publicly Accessible Accounts | No |
| Recurring Government Costs | |
| Incorporation Fee (regardless of share capital size) | US$450 |
| Annual Fee (regardless of share capital size) | US$450 |
Corporate Legislation
The modern legislative systeme is based on the Associations Law of the Republic of the Marshall Islands 1990 (Amendment) which contains the Business Corporations Act (BCA), Revised Partneship Act, the Limited Partnership Act (LP), the Limited Liability Company Act (LLC).
According to the Business Corporation Act offshore companies (IBC) registered in Marshall islands have the right to be engaged in any business activity worldwide.
Type of Company used for International Business and Investments
IBC - Company of International Business.
Business Activities
Any activity allowed by IBC, except for banking, insurance and trust activity.
Obligatory Requirements to Offshore Company
IBC should have a Registered Office and Registered Agent in the Marshall Island and cannot conduct business operation on the territory of Marshall island.
Taxation
The offshore company is exempted from taxes on 100%.
Authorized Share Capital
There is no requirement to the size of authorized capital.
Standard Authorized Share Capital of 50,000 USD, is divided into 50,000 shares of 1 USD.
There is no requirement for payment of the share capital.
Bearer Shares
Yes.
No par value Shares
Yes.
Shareholders and Directors
The minimum number of Shareholders - one (physical or legal person).
The minimum number of Directors - one (physical or legal person).
There is no requirement to the residency and nationality. One and the same person can be director and shareholder.
Company Secretary
The secretary is required by law.
Disclosure of Information Beneficial Owner and Bank Operations
Information is not available to the third parties.
Shareholders/Directors Meetings
Meetings of shareholders and directors can be carried out worldwide.
Filing of Annual Accounts
No.
Keeping of Documents of the Company
The place of keeping of operational documentation (resolution, minutes of meeting entc ) of the company is up to the decision of the directors.
Registration Time Frame
IBC can be registered within 2-3 working days.
Shelf Company Availability
Available.
Redomiciliation
It is possible "to import" foreign IBC to jurisdiction of Marshall islands and also Marshall islands offshore company can be "exported" to other offshore jurisdictions.
General Information
The Marshall Islands is a very interesting offshore zone for business. Located in the Pacific Ocean, between Indonesia and Hawaii, the islands have a population about 60 000 people. Following World War II, they were under the jurisdiction of the USA for a while, which, undoubtedly, has influenced their legislation. The Marshal Islands became an independent state in 1986. In 1991, the Marshall Islands became a full member of the UN.
English is the official language of business and the law. The official currency is US dollar. The majority of companies residing on the Marshall Islands are engaged in maritime activities.
The Ship Register of the Marshall Islands ranks 9th as per the number of ship registrations and one of the most fast-growing in the world. The infrastructure of the islands is very well developed. The legislation provisions of the Marshal Islands jurisdiction are similar to those of Belize, Bahamas, Panama and BVI.