Background & General Outline
The Republic of the Marshall Islands is an island country in the Pacific and has a population of almost 59,000 people. The capital is Majuro and is also the business and finance hub of the country. Official languages are Marshallese and English which is widely spoken in corporate services and business matters.
The islands lack natural resources and while the economy is growing, it’s heavily reliant on shipping, industry, and fishing. The Marshall Islands is well known for its maritime flag of convenience and its registry is the second largest in the world.
Political Structure & Legal System
The Marshall Islands is a parliamentary representative democratic republic and the President is both the Head of State and Head of Government. The country is considered to be politically and socially stable.
In terms of its legal system, the Marshall Islands has a flexible and welcoming business environment. Company formation is quick and straightforward and the legal system is based on common law proceedings, similar to the US. There is a Supreme Court, High Court, Traditional Rights Court, District Court and Community Court.
Name Restrictions for an Offshore Company in Marshall Islands
If you opt for company formation in the Marshall Islands, you need to consider certain rules when it comes to choosing a name. The entity is not allowed to pick a name that is the same as, or similar to an existing Marshall Islands company. It is also recommended that the company include one of the following words, or an abbreviation of “company”, “incorporated”, or “corporation”.
An offshore company in the Marshall Islands is not allowed to conduct any trade within the Marshall Islands. They are also prohibited from engaging in insurance, collective investment schemes, fund management, trust management, banking, and similar activities. The company is free to engage in commercial activities conducted outside of the jurisdiction.
Taxation in Marshall Islands
Company formation in the Marshall Islands brings with it the benefits of not having to pay any tax. This zero tax rate is in place as long as all activities are carried out abroad. There may still be requirements to pay tax in the owner’s native country, depending on their nationality and local laws.
Double Taxation Treaties
An offshore company in the Marshall Islands does not benefit from any double taxation treaties. This is due to the fact that there are zero kinds of tax payable for offshore companies. For US citizens, however, there is an agreement in place where under certain circumstances they may be eligible to not pay tax in the US.
Accounting & Financial Statements
There is no requirement for an offshore company in the Marshall Islands to submit or conduct any accounts or reports. They are also not obliged to appoint an auditor or conduct audits.
Disclosure of Beneficial Owner
There are no requirements to disclose the owner of an offshore company in the Marshall Islands to the authorities.
Capitalization Requirements for Company Formation in Marshall Islands
There are no minimum capital requirements for those that pursue company formation in the Marshall Islands. In cases where a share capital exceeds $50,000, there is a capitalization tax that is imposed.
An offshore company in the Marshall Islands is not subject to any exchange control limitations or requirements.
Cost of Company Formation in Marshall Islands
You can get your Offshore Company for as little as €1,200 with our Marshall Islands Company Formation Package. You can also benefit from our special renewal package and additional optional services. To get full price details, related documents and services click on the button below:
Contact Us to Register an Offshore Company in Marshall Islands
Are you looking to open a company in the Marshall Islands? Contact us today to get your offshore company registered in the Marshall Islands.
More Locations to Incorporate Your Company
Not sure about Marshall Islands? No problem! There are several other locations to consider. Select any of the countries below to learn more:
Follow us on Social Media!