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 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.
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).
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.
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.
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.
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.