Offshore companies in the Marshall Islands are usually incorporated as International Business Companies (IBC). All registered in the Marshall Islands companies should have local registered address and the agent.
There are no specific requirements for the minimum amount of share capital. Proposed share capital is 50 000 and there is no obligation for paid-in capital.
Companies registered in the Marshall Islands may issue registered shares, preference shares, which can be redeemed with or without par value and shares with or without voting rights.
Company names must end with one of the following words or their equivalent abbreviations: “Limited“,“Corporation“,“Incorporated“,“Societe Anonyme“,“Sociedad Anonima“ etc. It is not allowed to use words “Trust“, “Bank“, “Insurance“ without a specific license.
The minimum number of owners is one. At least one director should be appointed to manage a company. There is no specific residency requirement for directors and owners. The company in the Marshall Islands must necessarily appoint a secretary, who may be a natural or legal person; he/she may not be a resident of the Marshall Islands.
The Registrar of Companies does not disclose any information regarding the company, except for the address of the registered office and the name of the registered agent. Real beneficial owner’s name is not entered in the Register of Companies.
Taxation of companies in the Marshall Islands
Companies that do not carry out their activities in the Marshall Islands are exempt from the tax payments.
Zero tax rate is applied to all types of income, profits, dividends, royalties, compensations and other related activities with sources of income.
Accounting and audit
There is no requirement to file audited accounts or annual financial reports to the tax authorities. However, company shall keep financial records, which reflect the financial position of the company.
In the Marshall Islands it is allowed to appoint nominee directors, shareholders and a secretary.
Opening bank account for companies on Marshall Islands
For the offshore companies on Marshall Islands it is possible to open a bank account in any of our partner banks.
It is important to keep in mind that every bank account opening procedure is individual and depends on the information/documents provided by the client.