| JURISDICTIONS & FEES |
| Marshall Islands |
| UTRUST Rating |
* |
| General |
| Type of Company |
Non-Resident |
| Political Stability |
Good |
| Standard Authorised Capital |
No |
| Tax on Offshore Profits |
Nil |
| Corporate Requirements |
| Local Registered Office
and Registered Agent Required |
Yes |
| Minimum Number of Directors/Managers |
1 |
| Local Directors Required |
No |
| Corporate Directors Permitted |
Yes |
| Minimum Number of Shareholders/Members |
1 |
| Local Shareholders Required |
No |
| Corporate Shareholders Permitted |
Yes |
| Company Secretary Required |
Yes |
| Bearer Shares Allowed |
Yes, but not available |
| Annual Requirements |
| Filing of Annual Return |
No |
| Submit Audited Accounts |
No |
| Min. Annual Tax / Licence
Fees |
US$150 |
| Shelf Companies Available |
No |
|
GENERAL
INFORMATION
INTRODUCTION
The Marshall Islands are located midway between
Indonesia and Hawaii and are the eastern-most island
group in Micronesia. The Marshall Islands cover
approximately 2 million sq. km in the Central Pacific
Ocean, with two 1,280 km long parallel chains of
atolls and volcanic islands separated by 179 km
of sea. The islands have a population of just over
43,000 most of who live in the capital Majuro. An
important industry is large-scale commercial fishing.
Japanese fishermen, who are licensed to fish Marshallese
waters, haul in over 40 million pounds of tuna and
billfish each year. The export of coconuts (copra)
is another important economic factor.
LANGUAGE
The official languages spoken are Marshallese and
English.
TYPE OF LAW
Common Law based on Anglo/American Common Law.
COMPANY INFORMATION
TYPE OF COMPANY FOR INTERNATIONAL TRADE AND INVESTMENT
Non-Resident Corporation
TIME TO INCORPORATE
One Day, but allow two working days for receipt
of documentation.
RESTRICTIONS ON NAME AND ACTIVITY
Any name is acceptable for a Marshallese company,
provided it is not identical to an existing company.
The following words or their derivatives may not
be used: bank, chartered, establishment, foundation,
insurance, partnership or trust.
Names must end with one of the following words,
or their relevant abbreviations - Limited, Corporation,
Incorporated, Societe Anonyme, Sociedad Anonima.
CLASSES OF SHARES PERMITTED
Registered shares, bearer shares, preference shares,
redeemable shares, shares with or without a par
value and shares with or without voting rights.
DISCLOSURE OF BENEFICIAL OWNERSHIP TO AUTHORITIES
No.
LICENCE FEES
The annual government licence fee is US$150.
TAXATION
All Non-Resident corporations are exempt from taxes.
FINANCIAL STATEMENT REQUIREMENTS
Whilst there is no requirement to file annual audited
accounts with the authorities, a company is required
to keep financial records, which reflect the financial
position of a company.
Whilst every effort has been made to ensure that
the details contained herein are correct and up-to-date,
it does not constitute legal or other professional
advice. We do not accept any responsibility, legal
or otherwise, for any error or omission.
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