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Marshall Islands

Legal System Common law. Established mixed legal system of US and English common law, customary law, and local statutes. Based on adapted Trust Territory laws, acts of the legislature, municipal, common, and customary laws.
The System of the Common State Registrar
The company records (name, registration date, shareholder, director, secretary, address) are kept by the public registry.
The registering authority is International Business Corporations (RMI IBC).
Registration Procedure
The documents certified by a notary are submitted on paper to the Registrar.
The beneficial owner is not required at the registration and filing procedures. Entity formation is simple; and an entity may be formed in one business day.
E-Registration Not available.
Pre-incorporation Procedures (statement of compliance, affidavit, etc) Not available.
Company Name
Prior approval of the name is required.
The name should be in Roman characters, in any language.
Incorporation Documents Articles of Association. Original documents shall be prepared and kept in English.
Share Capital
The minimum share capital is one share without par value.
Share capital may be expressed in any currency.
A standard formation includes 500 registered and/or bearer shares without par value, or up to USD50.000 worth of par value stock. Authorized share capital above these amounts will incur a one-time capitalization tax.
Beneficial Owner The beneficial owner can be any physical person. Information about the beneficiary is not reflected in the Registrar.
Shareholder At least one shareholder (physical person or legal entity).
Director At least one director. The director may be a physical person or a legal entity.
A secretary is required.
A local physical person or a legal entity must be the secretary. The company secretary can be of any nationality and should not be resident in the Marshall Islands.
Registered office A registered office Marshall Islands is required.
Residency Is determined by the place of management of the company.
Income Tax 0%
Taxes on Dividends 0%
Taxes on Capital Gains 0%
Taxes on Interest 0%
Tax Withheld at Source None.
VAT 0%
Specific National Taxes and Levies 0%
Reporting Books of account and other records should be ready, but are not required to be kept in Registrar.
Audit Not required.
Cost Accounting Rules None.
Tax Administration All non-resident domestic entities are statutorily exempted from taxes in the RMI.
Use of Tax Treaties Not Applicable.
Terms of Use of Tax Preferences Activities outside of Marshall Islands.
Controlled Foreign Corporation in Jurisdictions with Low Tax (CFC) Not Applicable.
Disclosure of Information Information about beneficiaries is not available for third persons.
Language English.
Registration of Company From EUR 1 800.
Administration of Company From EUR 1 600 per year.