Marshall Islands | Interstatus - Group of Companies Marshall Islands – Interstatus – Group of Companies

General jurisdiction information:

The Marshall Islands (officially known as The Republic of The Marshall Islands) is situated in the Pacific Ocean and consists of coral atolls, islands and small islets.

The population, according to the 2015 census, is  around 59,500.

Its capital city is Majuro.

The official languages are English and Marshallese.

The official currency is US Dollar (US$).

The Marshall Islands obtained independence in 1986. Financial sustainability and military protection are secured by the Free Association Treaty with the USA.

The financial and economic development of the country is largely reliant on the financial assistance provided by the USA and the Asian Development Bank (of which The Marshall Islands are a regional member). A major part of national income is generated by tourism and the offshore sector.

The Law of The Marshall Islands provides for the incorporation and operation of the following legal corporations:

  • International Business Companies (IBC) are defined by the Business Corporation as companies deriving profit from operations outside the jurisdiction;
  • Limited Liability Partnership (LLP);
  • Limited Liability Company (LLC).

LLPs and LLCs enjoy additional benefits and incentives for international business including the establishment of joint international and fixed term companies, internet commerce, investments for start-ups, IPO options, etc.

The country operates 2 international airports and enjoys an advanced telecommunications infrastructure.

Advantages of The Marshall Islands incorporated companies:

  • Advanced liberal laws are applicable to offshore companies.
  • Confidentiality: no personal information on beneficiaries, shareholders or officers of the company is required by the registrar.
  • There is no minimum and maximum share capital requirement and capital can be denominated in any currency.
  • Companies can be set up with just one shareholder who is either a natural person or a corporation and may be the resident of any country.
  • The company may use nominee services (director and shareholder).
  • The opening of a bank account does not require a personal visit to the bank from the company representative.
  • The office can be maintained and documentation may be kept in another country.
  • There are no exchange controls.
  • Bearer shares and shares without par value are allowed.
  • Company administration is straightforward without a requirement for many staff and management can be carried out from any country.
  • There is no requirement for financial statements or statutory auditing.
  • Re-domiciliation is allowed from other jurisdictions.
  • There is no requirement for annual meetings of directors and shareholders but, if needed, the meetings can be held in any part of the world.
  • Offshore companies with no operation in The Marshall Islands are tax exempt.
  • Economic and political stability.

Company incorporation in The Marshall Islands: 

Director(s):

At least one natural or corporate person. There are no residency qualification requirements.

The same person may serve as director and shareholder.

We will provide local (nominee) directors in full compliance with local laws and they will manage the affairs of the company according to your instructions.

Shareholder:

Every company should have at least one shareholder. There are no residency qualification requirements. If the potential company owner wishes to achieve full anonymity we will be able to offer nominee, shareholders.

Secretary:

The secretary is mandatory. It may be a physical person or a corporation. There are no residency qualification requirements.

If you need the services of a physical secretary, we are able to offer such services. Please request information on virtual office services from our representative.

Registered office:

Companies incorporated in The Marshall Islands must have a registered office by Law.

Share capital:

The share capital is $50,000 divided into the relevant number of shares with the par value of $1. The company is deemed operational as soon as at least one share has been issued. Bearer shares are allowed (subject to deposit with the registered agent).

Registration period:

10-14 days but the delivery of the full set of original documents may take additional time. Shelf companies are available.

Accounting and auditing:

There are no requirements for The Marshal Islands companies to submit financial statements or prepare audited accounts.

Financial statements are not subject to any regulations; the company should maintain internal financial accounting to provide a view of the financial position of the company and such reports should be kept for at least 5 years at the address of the registered agent.

There is no requirement to submit information on the changes in the composition of shareholders and the board of the company. Minutes may be kept at any place as the shareholders think fit.

Information kept in the registries:

The Marshall Islands do not maintain a public company register. No information on beneficiaries, shareholders or directors is submitted to the register, which is kept secret and not accessible to the public.

The Marshall Islands taxation provisions:

Offshore companies incorporated in The Marshall Islands are tax exempt:

  • tax on profit, dividends, interest and royalty – 0%;
  • capital gains tax – 0%;
  • tax at source on the payment of the above income – 0%;
  • value added tax – 0%;
  • wealth and inheritance tax – 0%.

There is no stamp duty.

In place of the above taxes, The Marshall Islands offshore companies must pay an annual registration fee of $450. Penalties are imposed in the case of a breach of the fee payment terms.

The law provides for a one-off tax on capital in the event of an increase of the number of shares over $50,000.

Double Tax Treaties

The Marshall Islands does not have a Double Tax Treaty with any other country.

Tax Information Exchange Treaties are in place with the USA, Norway, Denmark, Australia and the Netherlands.

1st year

BASIC
$1250
  • Company Incorporation
  • Government Fees
  • Corporate Document Set with Apostille
  • Registered Office
  • Agent Fees
  • Company Stamp
  • Courier
STANDARD
$2400
  • Company Incorporation
  • Government Fees
  • Corporate Document Set with Apostille
  • Registered Office
  • Agent Fees
  • Company Stamp
  • Courier
  • Nominee Director
  • Power Of Attorney with Apostille
  • Nominee Shareholder
PREMIUM
$2900
  • Company Incorporation
  • Government Fees
  • Corporate Document Set with Apostille
  • Registered Office
  • Agent Fees
  • Company Stamp
  • Courier
  • Nominee Director
  • Power Of Attorney with Apostille
  • Nominee Shareholder
  • Cyprus Bank Account Opening

2nd year

BASIC
$1000
  • Registered Office Fees
  • Registered Agents Fees
  • Annual Government Tax
  • Administrative and Compliance Fees
STANDARD/PREMIUM
$2150
  • Registered Office Fees
  • Registered Agents Fees
  • Annual Government Tax
  • Administrative and Compliance Fees
  • Nominee Director
  • Power Of Attorney with Apostille
  • Nominee Shareholder

*Please contact us for a detailed price list and additional information.