MARSHALL ISLANDS OFFSHORE INFORMATION

For companies not requiring such a high profile, a Marshall Island company provides a very cost-effective, flexible alternative.  This type of company can be used as a holding company or an investment company but is not particularly recommended for high profile trading companies seeking new clients, due to the lack of public registers.

ADVANTAGES	The flexibility of the legislation allows a company incorporated in the Marshall Islands to operate with the absolute minimum of fuss. Low annual fees. Ideal for Shipping or Holding purposes
DISADVANTAGES	Because of the lack of public registers Marshall Islands companies are not recommended for high profile trading activities
CORPORATE LEGISLATION SOURCE	Association Law of the Republic of the Marshall Islands 1990 Republic of The Marshall Islands Limited Liability Company Act 1996
COMPANY STATUS	Non-Resident Domestic Corporation Limited Liability Companies (LLC's)
USUAL MINIMUM CAPITAL	No minimum
COMPANY NAME	Any name that is not already in use.  Must end with an appropriate suffix such as 'Limited', 'Incorporated' etc
TIME TAKEN TO INCORPORATE	1 - 2 days
ARE SHELF COMPANIES AVAILABLE	Yes
CAPITAL DUTY	Nil
MINIMUM NUMBER OF SHAREHOLDERS	One for corporation, one member for the LLC
ARE BEARER SHARES / SHARES OF NO PAR VALUE POSSIBLE?	Yes / Yes
DIRECTORS: MINIMUM NUMBER / CORPORATE DIRECTORS ALLOWED / LOCATION	One / Yes / No restriction
SECRETARY: MANDATORY / CORPORATE SECRETARY ALLOWED / LOCATION	Yes / Yes / No restriction
IS THERE A REQUIREMENT FOR A REGISTERED OFFICE / REGISTERED AGENT	No / Yes
IS THERE A REQUIREMENT BY THE AUTHORITIES PRIOR TO INCORPORATION OR PRIOR TO TAX STATUS BEING GRANTED	None
INFORMATION AVAILABLE ON PUBLIC FILE	Articles of Incorporation / Voluntary Filings
DOCUMENTS TO BE KEPT AT REGISTERED OFFICE	None
CORPORATE BOOKS AND SEAL	Yes, seal not mandatory
ACCOUNTS REQUIRED / FILED	No / No
ANNUAL RETURN REQUIRED	No
WHERE ARE MEETINGS TO BE HELD	No restrictions, telephone meetings are permitted
ANNUAL FEES PAYABLE TO THE GOVERNMENT: TAX / ANNUAL RETURN FILING FEE	US$450
ARE THERE ANY EXCHANGE CONTROLS	None
DOUBLE TAX TREATIES	None

MARSHALL ISLANDS

The Marshall Islands are located nearly midway between Indonesia and Hawaii.  They are the easternmost island group in Micronesia and cover approximately 750,000 square miles in the Central Pacific Ocean.  The Marshall Islands form two 800 mile long parallel chains of coral atolls and volcanic islands which are 124 miles apart.  The eastern chain is called the Ratak, meaning sunrise, the western chain is the Ralik, or sunset.

History

Settled some 4,000 years ago, British naval officer John Marshall gave his name to the islands in the 1700's.  The Marshall Islands came under control of Spain from 1500 to the late 1800's, Germany from 1885 to World War I, and Japan from 1917 to 1944.  After the Second World War, the Marshall Islands became a United Nations Trust Territory of the Pacific Islands, under United States Administration.

The Compact of Free Association was signed in 1978 with the United States recognising the Marshall Islands as a self-governing nation.  In 1979, the Marshall Islands became a sovereign government.  Full membership with the United Nations was achieved on September 17 1991.

Why The Marshall Islands

The legislation for offshore companies is based very much on Caribbean companies, hence Marshall Island IBC's are very inexpensive and easy to incorporate and maintain.

They can be used for a wide range of activities such as real estate investment, trust and estate planning, joint ventures, ship registration and holding of bank accounts and securities.  They are however, not recommended for high profile trading companies due to the lack of public registers.