Registration of a company in the Marshall Islands is carried out in the form of an IBC. Activities outside the region are not subject to taxation.
choosing a country
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bank account opening
The offshore zone in the Marshall Islands attracts low-cost company registration and favourable business conditions. Some of the main advantages include:
The activities and registration of an offshore company in the Marshall Islands are regulated by the Companies Act of 1990.
The legislation of the Marshall Islands is based on the legislation of the State of Delaware. The Associations Act includes the Business Corporations Act 1990, the Cooperations Act 1990, the Limited Liability Companies Act 1996. The establishment of an International Business Company (IBC) is governed by the Business Corporations Act, which defines it as a company for profit from activities outside the Marshall Islands.
Such companies cannot trade with residents of the Marshall Islands, conduct banking, trust activities or provide insurance services.
There is only one type of International Business Company (IBC) in the Marshall Islands – a domestic non-resident corporation. It is an easy company to set up and maintain. Although the Business Corporations Act is based on US corporate law, some of its provisions are based on English law. Such provisions make it possible to hire an Executive Director and a Corporate Secretary instead of the adopted US President, Treasurer and Secretary. The company's affairs can be managed in any country. All information about the company's activities will also be stored there.
Using standard provisions, an International Business Company (IBC) can be created in one day. No annual reports are required to maintain the company, moreover, the company and its profits are not subject to taxation.
The law allows for the issue of bearer shares. In the case of registered shares, the state authorities do not keep a register of shareholders. It is also not required to disclose the names of the company's employees and directors.
The US dollar is the national currency.
The name of the company to be registered must not be the same as the name of an existing company. The name must not include the following words and their derivatives: bank, royal, establishment, foundation, insurance, partnership or trust. The company name can be in any language, but must be written in Latin letters. The Registrar is entitled to inquire about the translation of the name in order to ascertain whether it meets the requirements. The name is followed by the legal form of the limited liability company (Corporation, Incorporated, Limited, Gesellschaft mit beshräkter Haftung, Aktiengesellschaft, Société Anonyme, Sociedad Anónima).
It is possible to create a company with a single shareholder.
The standard share capital is 500 shares of no par value, or authorised capital up to $50,000. The law provides for certain fees if the number of shares exceeds 500 or the share capital exceeds $50,000. The share capital may be expressed in any currency. The minimum share capital may be one share with/without a nominal value. Companies incorporated in the Marshall Islands may hold the following types of shares: registered, bearer, preferred, redeemable, with/without par value, with/without voting rights.
The minimum number of directors is one. A company secretary must be appointed. Directors/secretaries can be both individuals and legal entities, non-residents of the Marshall Islands.
International Business Companies (IBC) must have a registered office and a registered agent. There are no currency controls for companies that do not do business with residents of the Marshall Islands.
There is no requirement for financial statements, but records must be kept that reflect the financial position of the company.
International Business Companies (IBCs) are exempt from all local taxation. The Marshall Islands do not have any double taxation treaties in place.