Company Registration in Marshal Islands

The professionals of Enterslice aim to register your company in Marshal Islands seamlessly so that you can create your presence in the destination at the earliest. Connect with us to avail our services. Package inclusions: Assistance in the Arrangement of the requisite necessary papers for company registration..

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Overview of Company Registration in Marshal Islands

In recent years, the Republic of the Marshall Islands has managed to achieve economic stability; low taxes have made the state one of the most popular offshore zones. Thus, a company registered in the Marshall Islands - despite the innovations in the legislation, is a very popular and common option for the optimisation of tax. The Marshall Islands adapted to new requirements, but at the same time, they continue to offer tax benefits and opportunities to protect assets.

Company registration in the Marshall Islands is fast, and the process itself has undergone some changes. However, as before, it is quite simple.  However, it must be noted that the new requirements regarding economic sabstens oblige companies for operating on the territory of the islands along with employing a sufficient number of adequately trained and qualified personnel who are physically located in the Marshall Islands.

Benefits of Company Registration in Marshal Islands 

The Marshall Islands attracts entrepreneurs due to the following benefits offered by this destination which are -

  • Political and economic stability.
  • Clear and loyal legislation making the Marshall Islands a white-listed jurisdiction.
  • Confidentiality, the personal data is recorded in the closed register. Disclosure of information is punishable by law.
  • In the Marshall Islands, there is no currency exchange control or liabilities for accounting and reporting.
  • Inexpensive registration allows saving money without withdrawing it from circulation. Business owners invest a minimum of facilities for opening of the company and payment for the services of nominal representatives.
  • It is possible to register a company even remotely.
  • This is a recognized jurisdiction for launching IPO projects.
  • Lots of opportunities for asset protection.

Eligible Business Entities for Company Registration in Marshal Islands

The Eligible Business Entities for Company Registration in Marshal Islands are enlisted below -

Limited Liability Company

It is a local entity suitable for doing business as the liability of its founders (members) doesn't exceed the funds contributed to such an enterprise. Another benefit is that the minimum paid-up capital is allowed to be USD 1. Minimum 1 shareholders is required in this case.

International Business Corporation (IBC)

This business structure is suitable for doing business worldwide. The financial obligations of the IBC’s members don’t exceed the funds contributed to such a corporation. A minimum of 1 director is required for an IBC. The minimum paid-up capital is allowed to be USD 1 in this case too. But, the basic amount of registered capital shall be up to USD 50,000. Any IBC enjoys a preferential tax regime.

General Partnership

In this type of business structure, there are 2 or more partners who decide to share the liabilities, profit and management of the business as per the partnership agreement.

Limited partnership

The Limited Partnership is a type of business structure wherein the liability of the partners is limited to the share contributed by them in the partnership.

Foreign Maritime Entity

A foreign maritime entity is a legal entity that may or may not be a legal person,  being recognized as having the capacity of owning a vessel under the laws of the jurisdiction in which the entity has existence, in this case, the Republic of the Marshall Islands.

Eligibility Criteria for Company Registration in Marshal Islands

The eligibility criteria for company registration in Marshal Islands is discussed below-

  • Minimum 1 director
  • Minimum 1 shareholder
  • 1 Secretary
  • No minimum capital requirement
  • Register of Beneficiary
  • Registered Office
  • Registered Agent

necessary papers Required for Company Registration in Marshal Islands

The below-mentioned necessary papers are required for company registration in Marshal Islands:

  • Certificate of Incorporation
  • Articles of incorporation
  • By-Laws
  • Consent of Incorporator
  • Power of attorney

Procedure for Company Registration in Marshal Islands

The entrepreneur must follow the below-mentioned procedure for company registration in Marshal Islands:

Choose the Business Structure

The entrepreneur must choose the business structure which, in his opinion, is best suited to the activities of the business.

 Select and check a business name for the company

After choosing the type of business structure, the entrepreneur must select a unique name for the company and check the same with the competent authority to avoid any similarities with any other company.

Collect details about the Relevant Persons

The entrepreneur must ensure to collect the details of the relevant persons such as the other founders, directors, shareholders, beneficiaries etc.

Arrange the registered address for the company

The next step is to get the registered address for the company, i.e. the place where the entrepreneur intends to carry out the business activities and where the official communication can be sent.

Draft the statutory necessary papers and preparing registration forms

 The next step in the procedure of company registration in Marshal Islands is the preparation of the relevant necessary papers, such as the AOA of the company.

File the Application and Submit the necessary papers

After the preparation of the relevant necessary papers, the entrepreneur must file the application and submit the required necessary papers along with the application to the competent authority.

Open a Corporate Bank Account

Upon the submission of the application as well as the necessary papers and after due verification of the same, the authority shall grant the incorporation certificate, after which the entrepreneur must open a corporate bank account for conducting the financial operations of the business.

Registering for tax and social security purposes

The entrepreneur is required to register for tax and social security purposes as a part of the procedure for company registration in Marshal Islands.

 Obtain the Business Licenses and Specific Permits

The final step would be to obtain the required business licences and permits as per the activities of the business.

 

Frequently Asked Questions

An entrepreneur must register a company in Marshal Islands due to the various benefits provided by this destination.

The entrepreneur must meet the following eligibility criteria for company registration in Marshal Islands - Minimum 1 director, Minimum 1 shareholder. 1 Secretary, No minimum capital requirement, Register of Beneficiary, Registered Office and Registered Agent.

Yes, foreigners can register a company in Marshal Islands and avail the benefits provided by this destination.

Yes, it is important to have a registered office in Marshal Islands in order to carry out business operations.

No, the information of the beneficiary is not available on public record in Marshal Islands.

 

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