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Marshall Islands
Marshall Islands, officially the Republic of the Marshall Islands, is an island country located near the equator in the Pacific Ocean.
Capital: Majuro
Official languages: English, Marshallese
Currency: USD
Business in the Marshall Islands – the benefits of local jurisdiction
Marshall Islands are listed among the attractive offshore destination mainly because of the local jurisdiction that allows the issuance of bearer shares, which, together with the use of nominee services, ensure a high degree of anonymity of property. Commercial register is partly accessible but contains only the information on the existence and address of the company and the date of its foundation.
| Legal form of the company | International Business Company - IBC -Ltd., Corp., Inc. and others |
| Legislation | The Business Corporations Act (BCA), 1990 as amended, a legal system based on English-American common law with local amendments |
| Time needed for company formation | Usually within 1 day |
| Shareholders | Minimum number: 1 A natural or legal person, may be non-resident |
| Directors | Minimum number: 1 A natural or legal person, may be non-resident |
| Share capital | No minimum amount, standard authorized share capital of the company, however, is USD 50.000, - |
| Bearer shares | Yes |
| Taxation | Companies based on the Marshall Islands are exempt from all taxes (assuming that the business activity and company management takes place outside the territory of the Marshall Islands), have no tax ID, pay no VAT and the shareholder is not taxed entity. The shareholder pays only an annual flat fee with respect to the share capital. Companies with registered capital up to USD 50.000, pay USD 450, - USD flat annual tax to the Marshall Islands government. They have no obligation to submit a tax return. |
| Bookkeeping | Bookkeeping and providing information on the place of its archiving is mandatory, but financial statement is not required |
| Audit | Optional |
| Anonymity and confidentiality | High degree of anonymity. The register of companies is partly open to the public, but only register the company name, address and date of establishment. Lists of directors and shareholders are known only to the registered agent. For more anonymity can use nominee services |
Marshall Islands did not enter into any agreement for the avoidance of double taxation.
The most common use of the company in the Marshall Islands
Parent company to another company for the purpose of anonymity of property