Co Formation

Marshall Islands Offshore Company Formation

The Marshall Islands Registry has grown quite rapidly, to the point where it is now the ninth largest open registry in the world with gross tonnage of approximately 35 million. Vessel types include oil tankers, bulk carriers, container ships and fishing vessels.  The Marshall Islands is also a tourist destination. For environmental reasons, controlled tourism is the watchword, whether on Majuro or on the outer atolls, the lagoons and the ocean offer snorkelling, scuba diving, sport-fishing and sailing.  Advantages of setting up a Marshall Islands company are as below:

 

Advantages  of A Marshall Islands Company

  • Tax free
  • No reporting and recordkeeping requirements
  • Highly confidential. No disclosure for shareholders and directors
  • No exchange controls, and easy to pool capital
  • Stable economic and political environment
  • Can be listed in the U.S.

 

Marshall Islands Is A Good Vehicle For

  • Maritime
  • Holding Co
  • Investment Company
  • Wealth Management
  • International Trading

 

Three Simple Steps For Incorporating A Marshall Islands Company

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Supply Information 

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Sign Documents 

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Receive Documents 

Submit information online or fill the download form.

Our officer will contact you to confirm service,

collect KYC and verify documents. Pay fee.

Prepare incorporation documents and sign registration documents.

Collect incorporation documents.

 

Documents Required For Setting Up A Marshall Islands Company

  • Passport or certified copies (if we cannot meet in person) of all the directors/ shareholders/beneficial owners.
  • Residential address proof or certified copies of all the directors/ shareholders/beneficial owners (must be in English or English translation).
  • Our due diligence form.

 

Attractive Cost For Marshall Islands Company Formation

 

Marshall Company Formation Fee

From US$970

 

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Marshall Islands Company Fact Sheet

 

STATUTORY REQUIREMENTS OF A MARSHALL ISLANDS COMPANY

 

Type of Law.  Common Law for corporate matters.

 

Principal Corporate Legislation.  The Associations Law of the Republic of the Marshall Islands 1990, which incorporates the Business Corporations Act (BCA), the Limited Partnership Act, the Limited Liability Company Act and the Partnership Act.

 

Restrictions on Trading.  Cannot trade within the Marshall Islands. Cannot undertake the business of banking; trust services, insurance, assurance or reinsurance and gaming.

 

Powers of Company. A Company incorporated in the Marshall Islands has the same powers as a natural person.

 

Language of Legislation and Corporate Documents. English.

 

Registered Office Required.  Yes, must be maintained in the Marshall Islands.

 

Name Restrictions. Cannot be identical or similar to an existing company. The following words or their derivatives may not be used: bank, chartered, establishment, foundation, insurance, partnership or trust.

 

Language of Name. Can be in any language as long as Roman letters are used.

 

Suffixes to Denote Limited Liability.  Any standard corporate suffix or its abbreviation, for example: Corporation, Incorporated, Limited, Public Limited Company, Aktiengesellschaft, Société Anonyme, Sociedad Anónima, Soci é t é Anonyme à Responsabilité Limitée, Berhad, Proprietary, Naamloze Vennootschap, Besloten Vennootshcap, Aktiengesellschaft.

 

Disclosure of Beneficial Ownership to Authorities.  No.

 

Authorised and Issued Share Capital.  The usual authorised share capital is 500 shares without par value or a capital with a stated par value up to US$ 50,000. The authorised share capital may be expressed in any currency. The minimum issued share capital is either one share of no par value or one share of par value.

 

Classes of Shares Permitted.  Marshall Islands' corporations may have registered shares, preference shares, redeemable shares, shares with or without par value and shares with or without voting rights.

 

Directors.  The minimum number of directors is one. The directors may be natural persons or bodies corporate. They can be of any nationality and need not be Marshall Islands residents.

 

Company Secretary.  A Marshall Islands corporation must appoint a company secretary who may be a natural person or a body corporate. The company secretary can be of any nationality and need not be resident in the Marshall Islands.

 

Shareholders.  The minimum number of shareholders is one.

 

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

 

Double Taxation Agreements.  None.

 

Financial Statements Required.  There is no requirement to file financial statements, but records should be maintained to reflect a company's financial status.

 

Economic Subtance Requirements.   Please refer to Frequently Asked Question.

 

Procedure to Incorporate.  After receipt of name approval, companies can be incorporated using standard Articles of Incorporation. With standard Articles, the request to incorporate should contain the following information:

 

  • Corporate Name.
  • Number of authorised shares.
  • Whether shares have par or no par value (if par value, amount per share).
  • Whether the shares are to be in registered form.

 

Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any error omission.

 

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Marshall Islands' Economic Substance Requirements

From January 2020, a Marshall Islands LLC has to file an economic substance declaration to the government as part of the company’s annual renewal process indicating the following:

 

1.   Confirmation of whether the company conducted any business activity in the reporting period.

2.   If the company has local staff or office.

3.   Name, address and phone number of the directors.

 

ESR applies to Marshall Islands LLCs are:

1.   Banking and Insurance

2.   Financing and leasing companies

3.   Fund management companies

4.   IP holding and licensing companies

5.   Shipping companies

6.   Trading companies (distribution and services centres)

7.   Holding companies

 

A resident Marshall Islands LLCs must provide evidence to the government evidence they have a physical office and staff and active director(s) in the Marshall Islands.

 

Non-resident Marshall Islands LLCs must also supply the government evidence the entity is a tax-resident overseas including 1. foreign tax registration number and 2. Foreign tax returns.

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