Offshore Companies

Choose the jurisdiction which best suits your needs

Marshall Islands

International Business Company

General Info

Procedures to incorporate

Currently, the Marshall Islands is a democratic and independent state, which has had no legal reform in the last 12 months. The foundation of the legal system in the Marshall Islands partially derives from the legislation of Delaware State, which ensures friendliness and flexibility of the legal infrastructure towards the business community, making it a suitable choice for international corporations, Partnerships, Limited Liability Partnerships and Limited Liability Companies in various capacities.

The Republic of the Marshall Islands maintains a politically stable, democratically elected parliamentary system of government, consisting of two legislative chambers which elect the President from among their members for a four-year term. The jurisdiction has one of the biggest ships registers so would be the perfect location for companies that are planning to own and manage yachts and ships.

Offshore Incorporation

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General Information:

Total Area: 181 sq. km
Population: 70,000
Location: The Marshall Islands is a Micronesian island nation in the western Pacific Ocean, located north of Nauru and Kiribati, east of the Federated States of Micronesia and south of the US territory of Wake Island.
Political status: Republic
Capital: Majuro
Official Language: English, Marshall
Official Currency: USA Dollar (USD)
Time Zone: GMT +12

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Company Type: Non-resident Domestic Corporation.

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Directors/Officers: Marshall Islands non-resident companies require a minimum of 1 Director, who may be a natural person or a corporate body from any legal jurisdiction. Each Marshall Islands company must keep information on its Directors with the Registered Agent.

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Shareholders: Marshall Islands non-resident companies require a minimum of 1 shareholder, who may be a natural person or a corporate body from any legal jurisdiction. Each Marshall Islands company must keep information on its shareholders with the Registered Agent.

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Secretary: Marshall Islands non-resident companies require a minimum of 1 Secretary, who may be a natural person or a corporate body from any legal jurisdiction. Each Marshall Islands company must keep information on its Secretary with the Registered Agent.

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Authorised share capital: Standard authorised capital = USD 50,000. There is no statutory requirement for capital to be fully or partly paid on incorporation.

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Company Names: The name of a Marshall Islands Non-Resident company must end with the words “Incorporated”, “Corporation”, “Limited”, or suffixes such as “Inc.”, “Corp.”, “Ltd.”, “S.A.”, “GmbH”, etc. Company names containing restricted words such as “Bank”, “Insurance”, “Trust”, “Assurance”, “Imperial”, “Royal” etc. will not be permitted unless an appropriate national operating license has been obtained by the company.

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Beneficial Ownership information: Information with regard to ultimate beneficial ownership must be disclosed to the Registered Agent of the company and is held by the agent on a confidential basis.

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Filing of Annual Return: There is no requirement to file an Annual Return.

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Filing of Financial Statements: There is no requirement to file Financial Statements in the Marshall Islands for Non-Resident companies.

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Tax Agreements: Australia, Denmark, Ireland, Faroe Islands, Finland, Greenland, Iceland, Korea, Netherlands, New Zealand, Norway, Sweden, USA.

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Restrictions on Marshalls Islands Companies: Prohibit from carrying on any business with persons residing in Marshall Islands. Prohibit from carrying on business of or undertaking any activity that is associated with the banking or insurance industries.

Marshall Islands companies and their Tax Liability

The Marshall Islands has a stable business environment; the currency is the US dollar.

+ Basic Taxes (briefly) – Personal Tax

Personal income tax in the Marshall Islands is 8% for the first $10,400 of income and 12% on any income exceeding $10,400. Salaries received by United States contractor personnel in the Marshall Islands are subject to 5% tax.

+ Corporate tax (in detail)

Businesses doing business on the Marshall are subject to income tax. The revenue includes all income, the enterprise can be either a legal entity or not. In 2021, tax is levied at $ 80 on the first $ 10,000 of revenue and 3% on the excess.

+ VAT

Local authorities levy sales tax at rates of 2-4%.

+ Other taxes, Government fee, Stamp duty

No.

Our Services

Atrium & Associates specializes in Marshall Islands company formations ranging from simple company registrations to complex tax planning and asset protection structures and in providing a very comprehensive assortment of administrative services to Marshall Islands companies, including the provision of Nominee Director, Nominee Shareholder, Mail Forwarding and Bank Account services. We are also able to offer a ‘transfer in’ service whereby we can take over the management of your existing Marshall Islands Offshore Company, often for no cost at all.

Our Marshall Islands company formation and company registration team:

Retains well-established affiliations with local company agents in the Marshall Islands.
Maintains an experienced staff with knowledge of legal requirements for company formation in Marshall Islands.
Guarantees that all company filing fees and documents are up-to-date and notifies clients of all Marshall Islands compliance changes.