The Republic of Marshall Islands (RMI) is an island country located in the Pacific Ocean nearly halfway between Hawaii and Australia. It has a sophisticated infrastructure, more so than many other nations in the region. It has a modern and stable business environment with flexible jurisdiction and is politically stable. The currency is the US dollar and English is the preferred language of corporate documents and legislation.
The Business Corporation Act (BCA) is the governing law for RMI corporations. The most popular offshore company type in RMI is an International Business Company (IBC), also referred to as a Non-Resident Domestic Corporation (NRDC). The governing authorities do not require audited accounts or annual returns to be provided. The government of RMI has also not signed any double taxation treaties nor does it cooperate with OECD on any tax information exchange agreements. An IBC in The Marshall Islands also holds privacy for shareholders and directors because their personal information is not registered in any public record. An IBC is not subject to taxes nor are they subject to the local tax system and the IBC’s employees, directors and/or shareholders are not subject to personal income tax.
There is no minimum paid-up capital required. Marshall Island Corporations are legally exempt from any corporate tax, income tax, withholding tax, asset tax, and stamp duty or exchange controls. There is no annual accounts reporting or auditing. Incorporation can be achieved in one business day. Once confirmation of the date of existence of the new corporation, that company can be organized and transact business. This can be done by filing a form with the Registrar of Corporations indicating the corporation’s name, share type, and organizational structure. In order to stream-line the application process, provide all required documentation and let our professionals expedite the registered incorporation. The documents needed must be in the English language or accompanied by an English notarized translation.
Documents Required :
- A notarized copy of a valid passport (one copy for each Shareholder, Director, Beneficial Owner, or Authorized Signatory)
- A proof of residential address dated within the last 3 months (for example: a utility bill: one copy for each Shareholder, Director, Beneficial Owner, or Authorized Signatory)
- A notarized copy of a Bank reference (for each Shareholder, Director, Beneficial Owner, Authorized Signatory)
- A Curriculum Vitae (CV) (for each Director and Shareholder)
- If Shareholders and/or directors are legal entities, it is required to submit a full set of certified company documents. If the company has been operating over a year, a certificate of Good Standing must be submitted.
- You must submit three different company names in order of preference
- Any paid-up capital
The offshore registration of a company in Marshall Islands days takes approximately one week since the moment we have received all the necessary documents.