Marshall Island -Corporation

The Marshall Islands Corporation has the following characteristics:

1. Shareholders:
   A minimum of one shareholder is required to set up a Marshall Islands Corporation. The standard authorized share capital is 500 shares without par value or a capital with a stated par value up to US$ 50,000. The authorized share capital may be expressed in any currency. Marshall Islands’ corporations may have registered shares, bearer shares, and preferred shares, and redeemable shares, with or without par value and shares with or without voting rights.
2. Directors:
   A minimum of one director is required, and corporate directors are permitted in Marshall Islands Corporation.
3. Officers/Secretary:
   Marshall Islands Corporation must appoint a company secretary who may be a natural person or a body corporate.
4. Restrictions on Name and Activity of a Marshall Islands Corporation:
   Names cannot be identical or similar to an existing company. Marshall Islands Corporation names Must end with one of the following words, – Limited, Corporation, Incorporated, Societe Anonyme or Sociedad Anonima, Gesellschaft mit beschrankter Haftung or their abbreviations.
   The following words and their associated activities, cannot be used: Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Co-operative, Fund, Imperial, Insurance, Foundation, Municipal, Mutual Fund, Royal and Trust.
5. Local Requirements:
   A resident agent is required in the Marshall Islands Corporation, as is a registered office. There are no exchange controls relevant to non-resident corporations; however, such companies may not be used to do business with persons resident in the Marshall Islands Corporation.
6. Timescale:
   Incorporation of a Marshall Islands Corporation can be achieved within 2-3 working days.
7. Annual Reporting:
   There is no requirement for a Marshall Islands Corporation to file financial statements, but records should be maintained to reflect a company’s financial status.
8. Taxation of a Marshall Islands Corporation:
   The Marshall Islands statutorily exempts non-residents companies from taxes. Also, Marshall Islands Corporations are non-resident companies and hence not entitled to tax residency certificate. There are no double taxation treaties with any nation.
9. Secrecy:
   The laws of the Republic of the Marshall Islands allow bearer shares. In the case of registered shares, the Marshall Islands does not keep a registry of shareholders. Likewise, Marshall Islands Law does not require that the names of officers and directors be filed with the Registrar of Corporations.