The Marshall Islands
Situated nearly midway between Indonesia and Hawaii, the Marshall Islands are the easternmost island group of Micronesia.
Marshall Islands' corporations are statutorily exempt from any coprporate tax, income tax, corporate profit tax, withholding tax, asset tax, stamp duty or exchange controls. Marshall Islands' corporations are governed by the Business Corporations Act, 1990 and regulated by the Registrar of Corporations.
Normally it takes one working day for form a Marshall Islands corporation.
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Population
The population of the Islands is approximately 60,000 made up principally by people of Marshallese, German, American and Chinese extraction. Marshallese take pride in the fact that these different cultures co-exits in peace and succeed in creating a cultural entity that is distinctly Marshallese.
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Economy
Agriculture and tourism are the mainstays of the economy. The principal trading patners are the United States, Japan and Australia. The Marshall Islands has a stable budiness environment due in part to the longstanding US involvement with the islands. Air transportation is facilitated by two international airports, plus airstrips scattered throughout the larger islands. There are twelve deepwater docks for large ocean-going ships. Excellent international communications are provided by satellite links for telephone, fax and e-mail. Banking services are provided by the Bank of Guam (which is FIDC insured) and the Bank of the Marhall Islands.
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Language
English is the official language. However, the Marshallese population is largely bilingual, being equally fluent in English and Marshallese.
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Currency
US Dollar.
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Exchange Controls
None
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Type of Law
Common law for corporate matters.
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Company Information
Principle Corporate Legislation - as with most offshore legislation, the Marshall Islands Business Corporations Act (BCA) contains provisions with provide for confidentiality. Foe example, companies may issue bearer shares and are not required to disclose the names of shareholders, directors or officers to the Registrar, Registered Agent, or any other governmental authority in the jurisdiction.
Unlike many offshore jurisdictions, however, the Marshall Islands statutorily exempts non-resident domestic corporations from taxes.
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Key Features
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- Overview
- Population
- Economy
- Language
- Currency
- Exchange Controls
- Type of Law
- Company Information
- Key Features
Marshall Islands' corporations are statutorily exempt from any coprporate tax, income tax, corporate profit tax, withholding tax, asset tax, stamp duty or exchange controls. Marshall Islands' corporations are governed by the Business Corporations Act, 1990 and regulated by the Registrar of Corporations.
Normally it takes one working day for form a Marshall Islands corporation.
Return to top
Population
The population of the Islands is approximately 60,000 made up principally by people of Marshallese, German, American and Chinese extraction. Marshallese take pride in the fact that these different cultures co-exits in peace and succeed in creating a cultural entity that is distinctly Marshallese.
Return to top
Economy
Agriculture and tourism are the mainstays of the economy. The principal trading patners are the United States, Japan and Australia. The Marshall Islands has a stable budiness environment due in part to the longstanding US involvement with the islands. Air transportation is facilitated by two international airports, plus airstrips scattered throughout the larger islands. There are twelve deepwater docks for large ocean-going ships. Excellent international communications are provided by satellite links for telephone, fax and e-mail. Banking services are provided by the Bank of Guam (which is FIDC insured) and the Bank of the Marhall Islands.
Return to top
Language
English is the official language. However, the Marshallese population is largely bilingual, being equally fluent in English and Marshallese.
Return to top
Currency
US Dollar.
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Exchange Controls
None
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Type of Law
Common law for corporate matters.
Return to top
Company Information
Principle Corporate Legislation - as with most offshore legislation, the Marshall Islands Business Corporations Act (BCA) contains provisions with provide for confidentiality. Foe example, companies may issue bearer shares and are not required to disclose the names of shareholders, directors or officers to the Registrar, Registered Agent, or any other governmental authority in the jurisdiction.
Unlike many offshore jurisdictions, however, the Marshall Islands statutorily exempts non-resident domestic corporations from taxes.
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Key Features
| GENERAL | |
| Type of Entity | Corporation |
| Political Stability | Excellent |
| Common or Civil Law | Common |
| Migration of Domicile Permitted | Yes |
| Tax on Offshore Profits | No |
| Language of Name | Roman characters, any language |
| CORPORATE REQUIREMENTS | |
| Minimum Number of Shareholders | One |
| Minimum Number of Directors | One |
| Bearer Shares Allowed | No |
| Secretary Required | Yes |
| Corporate Directors Permitted | Yes |
| Company Secretary Required | Yes |
| LOCAL REQUIREMENTS | |
| Registered Agent | Yes |
| Company Secretary | No |
| Local Directors | No |
| Local Meetings | No |
| Government Register of Directors | No |
| Government Register of Shareholders | No |
| ANNUAL FILING REQUIREMENTS | |
| Annual Return | No |
| Submit Audited Accounts | No |
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