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Marshall Islands Offshore Company Formation

The Marshall Islands are a sprawling chain of volcanic islands and coral atolls in the central Pacific Ocean between Hawaii and the Philippines. In the northwest, Bikini Atoll’s largely undisturbed waters, used as a ship graveyard after World War II, are now a popular wreck dive site. Near Majuro Atoll, which holds the island’s capital and largest settlement, the coral reef at Kalalin Pass teems with marine life.

Country: Marshall Islands
Population: 52,993 (2015)
Capital: Majuro
Currency: US Dollar
Language: English, Marshallese

Marshall Islands Offshore Company Formation £1530.00 + Vat
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Services Included Year 1 Year 2 onwards
Incorporation N/A
Corporate Structuring N/A
Government Fee US$450
Corporate Domicile £650
Director & Nominee Service Optional Extra Optional Extra
Estimated renewal costs in year two: £2,500.00

The Republic of the Marshall Islands: comprises more than 1,200 islands. Under the constitution adopted in 1979, the government consists of a president elected by a 33-Member parliament known as the Nitijela.

Main sources of revenue are substantial U.S. subsidies, the U.S. having a missile-testing range at Kwajalein. Both Majuro, the capital, and Kwajalein are the urban centres, with the outer islands being mostly dependent on subsistence farming and fishing.

It is now regarded as a highly confidential offshore jurisdiction and a Marshall Islands incorporation can be quickly registered. Marshall Islands company formations still permit bearer shares which add considerably to the degree of confidentiality available with Marshall Islands companies.

The Marshall Islands attained independence as a sovereign nation in 1896. This independent status was achieved under a Compact of Free Association Agreement with the United States of America, meaning the US Dollar is the local currency of the country and English is widely spoken.

As an independent state, the Marshall Islands has full control over its democratic processes. The legal foundation for the Marshall Islands is derived from Delaware State law which is itself very versatile and favourable for businesses, making it a sensible choice for those wishing to register an offshore company. It also holds one of the largest ship registers, making it the perfect location for companies wanting to own and manage seagoing vessels or simply to have a vessel registered there.

Benefits

  • Exceptionally fast incorporation – companies are formed within one day.
  • There is no public register of beneficial owners, which ensures confidentiality.
  • Companies incorporated by non-residents, deriving their income from outside the Marshall Islands pay no tax in that country.
  • There is no requirement to file annual returns or annual accounts.
  • Directors or shareholders may reside anywhere in the world and can be corporate entities.
  • Annual meetings may be held anywhere in the world.
  • Initial share capital required for incorporation is only $1 USD.

Requirements for a Marshall Islands International Business Company – IBC

A Marshall Islands company set up including company registration will be subject to the following criteria which:

  • Can have one or more subscribers and thereafter multiple shareholders.
  • Can have one or more directors.
  • Company secretary required (any nationality).
  • Directors can be corporate or individual and need not be local residents.
  • Meetings of directors or shareholders may be held in any country.
  • No public disclosure of directors or shareholders.
  • No requirement for annual returns.
  • Accounts are not required to be filed with government authorities but must be prepared and maintained privately.
  • Annual government licence fee of US$450.00.
  • Total exemption from all forms of local taxation.

Please note that the information given on this page is subject to change at any time without notice as a consequence of changes made in local legislation.

Banks

A member of the banking team will be able to advise on the most suitable Offshore Bank Account.
All prices quoted are exclusive of VAT

Turner Little and its affiliates do not provide tax, legal or accounting advice. Material on this page has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.