Marshall Islands - a jurisdiction with favorable conditions for doing business

Marshall Islands - a jurisdiction with favorable conditions for doing business

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.

Jurisdiction’s benefits

Marshall Islands is a state with a gradually developing economy. Registering a company in the Marshall Islands in 2020 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).

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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.

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