Eternity Law International — REGISTRATION OF THE COMPANY IN MARSHALL ISLANDS

REGISTRATION OF THE COMPANY IN MARSHALL ISLANDS

Published:
October 8, 2020

Marshall Islands is a small country in the Pacific region. Previously it was among the colonies of the US, but now there is a separate government here.

Nevertheless, the country is still in the free association with the USA and often leads the same policy. The Republic of Marshall Islands is also a Pacific offshore open to business.

This country itself is actively engaged in ship navigation and commerce, so this income is among the highest in its annual budget. Besides, companies registered in the Marshall Islands are often use to conduct various trade operations and provide services, including through the Internet.

Also, the Marshall Islands will suit those investors, who plan to complete the IPO procedure and bring their company to the most prestigious markets – Singapore, Hong Kong, London or New York. This procedure requires an audit, and the Marshall Islands can provide all the documents and the required level of trust for the company.

MAIN ADVANTAGES OF THE JURISDICTION

  1. no specific requirements to the financial reporting;
  2. high confidentiality that is guaranteed by the government;
  3. offshore companies can be organized by the example of American or British companies;
  4. one of the most advanced offshore corporate programs;
  5. well-developed legislation;
  6. connection with the USA;
  7. no taxation for the offshore companies.

BASIC INFORMATION FOR THE BUSINESS

  1. it is forbidden to conduct transactions with residents of the Marshall Islands or to own a real estate here;
  2. there are no requirements for a minimum and maximum size of the share capital;
  3. the minimal number of shareholders is 1 person, but you need to hire a secretary;
  4. the company must be presented in the Marshall Islands. At least, you should keep all the documentation here;
  5. the Marshall Islands have concluded an exclusive agreement with one company that has a license to incorporate all non-resident companies.

THE PROCEDURE OF REGISTRATION

The first stage is the preparation for registering a company in the Marshall Islands. At this stage, you need to think carefully about your plans and risks related to the business, and also make a business plan.

You need to come up with a couple of variants of the name for your future company. You can use any language for this, but the naming should include only Latin characters. The name must be unique and not similar to the already registered names. This rule is especially true for companies in the US – your options will be check with the US registry.

The second stage is the registration itself. It is conduct with the help of the registering agent, so you need to choose a trustworthy company or a sole entrepreneur among the residents. The main advantage of this approach is the possibility to register a company remotely. Your presence is not required if your agent has a power of attorney.

A list of the documents:

  1. notarized copies of passports of all shareholders
  2. proof of residence – for example, copies of utility bills.
  3. if the director or shareholder is a legal entity, they need to provide registration documents.

The registration will take about 2-3 weeks. The cost of registration depends on the size of the company and your business activity. Do not forget that you also need a bank account. There is a great number of banks to choose from, so find out about them in advance.

In case, you have any questions, please, contact our specialists. We will help you to register your company or offer ready-made options for offshore companies.

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