Prices in SGD
Click to change currency to: USD
| Incorporation |
$1,295 |
| Hong Kong Bank Account |
$1,040 |
| Bank Account in Singapore, Latvia, Austria, British Virgin Islands, St. Vincent & The Grenadines, Mauritius, or Belize |
$975 |
Prices in USD
Click to change currency to: SGD
| Incorporation |
$825 |
| Hong Kong Bank Account |
$800 |
| Bank Account in Singapore, Latvia, Austria, British Virgin Islands, St. Vincent & The Grenadines, Mauritius, or Belize |
$750 |
Marshall Islands International Business Corporations (IBCs) are governed by the Business Corporations Act (BCA,) which is contained in the Marshall Islands Associations Law of 1990, as amended.
Unlike many offshore jurisdiction, the Marshall Islands statutorily exempts non-resident, domestic corporations from taxes. Although the Marshall Islands' BCS is modeled after the corporate laws of the United States, certain provisions have also been borrowed from British Law, such as the ability to appoint a Managing Director and Corporate Secretary. In addition, facsimile filings are permitted and corporations are never required to have corporate documents acknowledge by a consular official. The Marshall Islands also permits corporate redomiciliation both into and out of the jurisdiction.
In recent years, 20 Marshall Islands IBCs and three limited partnerships (LPs) have gone public to raise capital on exchanges in London, New York and Singapore, with several IBCs in the process of being listed on stock exchanges around the world. Moreover, the Marshall Islands has been the jurisdiction of choice for virtually all international shipping companies that have applied for initial public offerings (IPOs) on the world's leading stock exchanges.
Key Corporate Features
General |
| Type of Entity |
IBC |
| Type of law |
Common |
| Shelf Company Availability |
Yes |
| Minimum Government Fees (Excluding Taxation) |
US$ 330 |
| Corporate Taxation |
None on Foreign Profits |
| Double Taxation Treaty Access |
No |
Share Capital or Equivalent |
| Standard Currency |
USD |
| Permitted Currencies |
Any |
| Usual Authorized |
US$ 50,000 |
| Minimum Paid-up Capital |
US$1.00 |
| Directors or Managers |
| Minimum Number |
One |
| Local Required |
No |
| Public Access to Records |
No |
| Location of Meetings |
Anywhere |
| Members |
| Minimum Number |
One |
| Public Access to Records |
No |
| Location of Meetings |
Anywhere |
| Company Secretary Required |
Yes |
| Local or Qualified |
Not Required |
| Accounts |
| Requirement to Prepare |
Yes |
| Audit Requirements |
No |
| Requirement to File accounts |
No |
| Public Access to Accounts |
No |
| Other |
| Requirement to File Annual Return |
No |
| Change of Domicile Permitted |
Yes |
|
General Information
The Marshall Islands are situated nearly midway between Australia and Hawaii, and are the easternmost island group in Micronesia. It has a population of around 68,000 people spread out over 34 low-lying coral atolls, comprising 1,156 individual islands and islets. The islands share maritime boundaries with the Federated States of Micronesia to the west, Wake Island to the north, Kiribati to the south-east, and Nauru to the south. The most populous atoll is Majuro, which also acts as the capital. The Republic of the Marshall Islands is a sovereign nation in "free association" with the United States. The United States has full authority and responsibility for security and defense of the Marshall Islands, and the Government of the Marshall Islands is obligated to refrain from taking actions that would be incompatible with these security and defense responsibilities.
Infrastructure & Economy
The infrastructure in the Marshall Islands is more sophisticated than that of most other nations in the region. The two islands where most of the population live, Majuro and Ebeye, both have reliable power plants and water systems. There are two international airports and 26 airstrips scattered throughout the larger islands. There are also 12 deep- water docks for large ocean-going ships. Agriculture and tourism are the mainstays of the economy. The Marshall Islands only recently began to be viewed as a tourist destination. For environmental reasons, controlled tourism is the watchword, whether on Majuro or the outer atolls. The lagoons and ocean offer snorkeling, scuba diving, fishing and sailing.
• Language
• Currency
• Exchange Control
• Type of Law
- Common Law Based on English Common Law
• Principal Corporate Legislation
- The Associations Law of the Republic of the Marshall Islands 1990, which includes the Revised Partnership Act, the Business Corporations Act (BCA), the Limited Partnership Act and the Limited Liability Company Act.
Company Information
• Type of Company for International Trade and Investment
- international Business Corporation (IBC).
• Restrictions on Trading
- Cannot trade within the Marshall Islands. Cannot undertake the business of banking; trust services, insurance, assurance or reinsurance and gaming.
• Powers of Company
- A company incorporated in the Marshall Islands has the same powers as a natural person.
• Language of Legislation and Corporate Documents
• Shelf Companies Available
• Language of Name
• Registered Office Required
• Name Restrictions
- Any name which is identical or similar to an existing Marshall Islands company cannot be used. The following words or their derivatives may not be used: bank, chartered, establishment, foundation, insurance, partnership or trust.
• Suffixes to Denote Limited Liability
- Any standard corporate suffix or its abbreviation, for example: Corporation, Incorporated, Limited, Public Limited Company, Aktiengesellschaft, Société Anonyme, Sociedad Anónima Berhad, Proprietary, Naamloze Vennootschap, Besloten Vennootshcap, Aktiengesellschaft
• Disclosure of Beneficial Ownership to Authorities?
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