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infobank> hong kong>tax> marshalls islands company registration

Marshall Islands IBC

General Information

Located nearly midway between Indonesia and Hawaii, the Marshall Islands are the eastern-most island group in Micronesia. The Marshall Islands cover approximately 2 million sq. km in the Central Pacific Ocean, with two 1,280 km long parallel chains of atolls and volcanic islands separated by 179 km of sea. The Islands feature sandy beaches ringed by coconut laden palm trees, and surrounded by crystal-clear lagoons teeming with tropical fish, giant turtles and colorful coral.

Features of Marshall Islands Company

Registered Office Required
Yes, must be maintained in the Marshall Islands at the address of the licensed Trust and Management Company.

One day, but a further two days is required for delivery of documentation from the registry.

Company Name
Company name 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.

Can be in any language as long as Roman letters are used. The Registrar may however require an English translation if a foreign language is used to ensure that the proposed name is not a restricted name.

Any standard corporate suffix or its abbreviation, for example: Corporation, Incorporated, Limited, Gesellschaft mit beshrankter Haftung, Aktiengesellschaft, Societe Anonyme, Sociedad Anonima.

Disclosure of Beneficial Ownership

Authoised and Issued Share Capital
The standard authorised share capital is 500 shares without par value or a capital with a stated par value up to USD 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.

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

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

Double Taxation Agreements

Licence Fee
Annual maintenance fee of USD150.

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

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.

The minimum number of shareholders is one. The shareholder can be a body corporate or individual and can be of any nationality.

Registration Fees

Registration fee
Our registration fee for a company with a share capital less than US$50,000 is US$928. The fee covers first year licence fee, first year registered agent fee and first year registered office fee.

Annual Maintenance fee
Annual maintenance fee is USD600 which covers annual licence fee, annual registered agent fee and annual registered office fee.



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