The main reason why hundreds of businessmen annually seek to register a company in the Marshall Islands or open a corporate bank account in the Marshall Islands is the presence of good conditions for doing business.
Marshall Islands is a Pacific Republic, a part of Micronesia which is associated with the United States. The main sectors of the economy are: a tourism, service sector and an agriculture.
Official languages are: Marshall, English. A state currency is the American dollar (USD). Marshall Islands are the member of such global organizations as CU, Pacific Islands Forum.
Marshall Islands is a state with a gradually developing economy. Registering a company in the Marshall Islands in 2022 will be an excellent solution for the following reasons:
- A stable political environment;
- A well-developed banking sector;
- No currency control;
- Low or “zero” taxes;
- Minimum requirements for a package of registration documents;
- No requirements for submitting a financial report, as well as an annual audit;
- The following types of shares are permitted: bearer, with no par value.
Legal forms in the Marshall Islands
Entrepreneurs can register a company in the Marshall Islands of such type:
- a Limited Liability Company (LLC);
- a Partnership (CP/LP);
- an International Business Company (IBC).
For foreign entrepreneurs and investors, the most suitable option for registering a company in the Marshall Islands is an IBC (international business company).
Conditions for opening a business on Marshall Islands
If you want to set up a company in the Marshall Islands, first, make sure, that you meet the following requirements of the Regulator:
- A unique name of the enterprise, with the obligatory ending in the form of Limited, Incorporated, Public Limited Company or the corresponding abbreviations;
- A statutory (unpaid) fund is 50 000 USD;
- A number of directors/shareholders is at least one (both an individual and a legal entity);
- A mandatory presence of a secretary;
- A storage of documents is permitted only within the state;
- Holding an annual meeting of directors in the islands;
- A mandatory presence of a registered office and a licensed agent;
- Obtaining a license in the Marshall Islands to conduct insurance and financial activities.
A registration procedure
To open a company in the Marshall Islands, you will need to prepare the following documents:
- for an individual: a copy of the foreign passport, a certificate to confirm the address of residence with a wet seal;
- for a legal entity: a package of statutory apostilled documents for a company, including a certificate, confirming the real fact of the existence of this company, as well as a package of documents for an individual (a director).
Registering a company in the Marshall Islands may take from 24 hours.
Features of a taxation
Setting up an IBC company in the Marshall Islands will allow you to be exempt from the following types of taxes:
- a corporate tax;
- a VAT;
- a capital gains tax;
- a stamp duty;
- a transfer tax, etc.
How to open a company in the Marshall Islands?
To set up a company in the Marshall Islands remotely, to open an account for a company in the Marshall Islands, to obtain a business license or receive professional support in creating an investment project in the Marshall Islands - all this will be possible with the help of YB Case specialists.