The Marshall Islands consist of a group of islands in the south Pacific, located between Indonesia and Hawaii. The Republic of the Marshall Islands became an independent and sovereign nation in 1986 after signing the Compact of Free Association with the United States . The RMI has a politically stable government and excellent communications. As well as a rapidly growing ship registry, the RMI has advanced professional and technological infrastructures. The movement of funds is free from any exchange or currency controls.
The Associations Law of the Republic of the Marshall Islands 1990, which incorporates the Business Corporation Act (BCA), governs a non-resident domestic corporation. The BCA contains provisions that provide for absolute confidentiality and anonymity. The BCA is modelled after the corporate laws of New York, Delaware and certain provisions of British law. For example, facsimile filings are permitted and a managing director and a corporate secretary is also permitted. The flexibility in the legislation allows a company incorporated in the Marshall Islands to operate with the ease. A non-resident domestic corporation is quickly and easily formed at a low cost and is simple to maintain and administer.
Minimum of 1 directors required, of which 0 must be residents.
Corporate directors are permitted.
Director's meetings are not required
There is not a public director's register
Other notes: none
Minimum of 1 secretaries required, who need not be residents.
Corporate secretaries are permitted.
There is not any requirement for secretaries to hold a professional qualification
Other notes: none
Minimum of 1 shareholders required
Corporate shareholders are permitted.
There is not a public shares register
Bearer shares are permitted.
No par value shares are permitted.
Usually the Authorised share capital is 50000 shares of USD1 each.
Where some or all of the shareholders are nominees, the ultimate beneficial ownership of the shares does not have to be declared to the authorities.
A registered agent is required.
An annual return is required.
Incorporation Fee: Please see Our Fees Schedule Heading
(The package fee includes government fees, local secretary fees, local agency fees, registered office fees and our service fees, and have the following after incorporation: a) certificate of incorporation b) Original formation documents and minutes c) Five copies of M & A
Opening Offshore Bank Account: Refer to Fee Schedule
Incorporation Time: 1-2 Weeks