The Republic of Marshall Island is situated in the central North Pacific Ocean. It consists of 34 islands, the islands were sighted by Spain in the 1500’s, but remained essentially un-colonized until the late 1800’s. The country is a totally independent nation that became self-governing in 1979 and has been a full member of the UN since 1991.
The laws of Marshall Islands are modeled after the laws of the State of Delaware. The Associations Law of the Marshall Islands comprise the Business Corporations Act 1990, as amended; the Partnership Act 1990, as amended; the Limited Partnership Act; and the Limited Liability Company Act, 1996 as amended.
The most popular type of entity is the Corporation. The incorporation of a non-resident domestic corporation is governed by the Business Corporations Act, 1990, and it is defined as a corporation for profit not doing business in the Marshall Islands. These companies cannot trade within Marshall Islands, cannot provide banking, insurance and trust services.
The Marshall Islands Corporation has the following characteristics:
10. Company Renewal:
Renewal for Marshall Island’s Corporations fall every anniversary date of incorporation.
Latest valid passport copy and recent utility bill for address proof of shareholder/director are required to be submitted at every renewal as a part of enhanced due diligence. If shareholder is a corporate entity, then latest certificate of incumbency and above stated docs of directors would be required.
11. Documents Required in Setting Up a Marshall Islands Corporation:
KYC Documents for individual Director/Shareholder:
KYC for Corporate Director/Shareholder:
Incorporation of a Marshall Island Corporation begins from USD 1,950/-
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Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal, tax or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions.