A Marshall Islands International Business Company (IBC), known as a Non-Resident Domestic Corporation (NRDC), is the country’s premier and most popular offshore company formation vehicle. Its high attractiveness is due to a number of unique advantages, giving Marshall Islands offshore companies an unprecedented array of business possibilities.
For example, a Marshall Islands’ company may be taken public, raise capital, carry out third-party trading, act as an investment advisor and conduct business in any activity except banking, trust, insurance or gaming.
A Non-Resident Domestic Company is governed by the Business Corporations Act, which is under the Marshall Islands Associations Law of 1990, exempting all non-resident companies from having to pay any type of local taxes. The offshore jurisdiction has a modernized corporate law that combines elements from both the US and the UK, making it a first class offshore financial centre.
The Marshal Islands has outstanding asset protection legislation and has long declined to collaborate with the OECD on any tax information exchange agreements. Non-Resident Companies are also not required to file audited accounts, annual returns, or submit any financial records, details of its owners or any shareholder of the company, all the details of which are kept confidential.
Although the Marshall Islands jurisdiction is largely unknown, it remains one of the best offshore financial destinations in the Pacific. For more information on the Advantages of the Marshall Islands as an Offshore Financial Center, click here.
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|Marshall Islands Company||Corporate Details|
|Type of Entity||IBC or Non-Resident Domestic Corporation|
|Type of Law||Common Law|
|Governed by||The Association Law 1990 includes: Business Corporation
Business Corporations Act
Limited Partnership Act
Limited Liability Company Act
|Registered Office in Marshall Islands
|Shelf company availability||Yes|
|Our time to establish a new company||1 -3 business days|
|Minimum government fees (excludes taxation)||USD $450|
|Access to Double Taxation Treaties||No|
|Share capital or equivalent|
|Standard currency||US Dollar|
|Minimum paid up||USD $1|
|Usual authorized||USD $50,000|
|Bearer shares allowed||Yes|
|No par value shares allowed||Yes|
|Publicly accessible records||No|
|Location of meetings||Anywhere|
|Corporate directorship allowed||Yes|
|Publicly accessible records||No|
|Corporate shareholder allowed||Yes|
|Location of meetings||Anywhere|
|Local or qualified||No|
|Requirements to prepare||Yes|
|Requirements to file accounts||No|
|Publicly accessible accounts||No|
|Recurring Government Costs|
|Minimum Annual Tax||400|
|Annual Return Filing Fee||N/A|
|Requirement to file annual return||No|
|Migration of domicile permitted||Yes|
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Marshall Islands company registration requirements are very simple and straightforward. The Marshall Islands jurisdiction uses a single company in which to incorporate all of its non-resident companies. The following information is needed to complete the process, together with the appropriate fees and the Articles of Incorporation:
There are no taxes for any Marshall Islands Non-Resident Domestic Corporation. This includes all taxes including, but not limited to:
A non-resident domestic company has complete confidentiality, does not need to be submitted to the government and is not open to the public. All beneficial owners, directors and shareholders can maintain anonymity through the use of nominee services. The names of the beneficial owner and director(s) are required to be filed with the Registered Agent, though those names and contact details are held confidentially. No financial documents, statements, accounts or audits are required to be submitted to the government.
Companies formed in the Marshall Islands may use registered, preference, redeemable shares, with or without par value and with or without voting rights.
The minimum issued share capital for a non-resident company is one share, with a usual authorized amount of US$50,000, that is usually expressed as 500 shares without par value, which may be in any currency.
There are no requirements to submit any financial statements; however, a company must keep financial statements, accounts and records of the companies business standing, financials, and records. They may be held anywhere in the world.
A Marshal Islands IBC requires only one Director who may be an individual or a corporate body, may be a resident of any country and any nationality
A Company Secretary is required for a Marshall Islands IBC. A Secretary can either be an individual or a corporate body and does not need to be local resident.
Company meetings may be held anywhere in the world and are not required for a Marshall Islands IBC.
Company incorporation and formation of non-resident companies is under the jurisdiction of the Association Law of the Republic of Marshall Islands 1990, which includes:
The Republic of the Marshall Islands has a mixed legal system, with elements of laws from the United States and the United Kingdom, combined with local statues. Corporate and companies law are primarily modelled after Delaware and NY corporate law.
A Non-Resident Domestic Corporation requires that there be at least one (1) shareholder who may either be an individual or a corporate body, may be of any nationality and resident of any country.
A Marshall Islands IBC is not allowed to trade within the country.
There are no exchange controls in Marshall Islands
The powers of the company have the same powers as a natural person.
Yes, Marshall Island company incorporation requirements state that a local, registered office is mandatory for every non-resident company
There are no local requirements except for a registered office
There are no audit requirements needed for a Non-Resident domestic corporation
There are no annual reporting requirements for a Marshall Islands IBC
Yes, shelf companies are readily available.
1-3 Business days
Any company name that is already in use or is deemed offensive or undesirable by the Register may not be used. The following words may also not be used, unless the company receives special permission from the Register; these include: trust, partnership, gaming, foundation, bank, insurance, or establishment.
A Marshall Islands IBC may be in any language as long as it uses the Roman alphabet and provides an English translation.
The following words may also not be used, unless the company receives special permission from the Register; these include: bank, insurance, trust and gaming.
A Company must use the appropriate suffix “Corp”, “Ltd”, “S.A.”, or “PLC”
The Republic of the Marshall Islands has not signed any Double Tax Treaties
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*Note for U.S. citizens: US citizens are limited in their tax reduction possibilities due to FATCA and CFC laws. Opening an offshore company can increase privacy and asset protection, but you can not eliminate your taxes without giving up your citizenship. If you are a US citizen you are obligated to pay taxes on all worldwide income. Read more here about FATCA and CFC laws.
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