The Marshall Islands, a prominent offshore jurisdiction, suits specific business needs rather than universal ones. While not universally applicable, registering an offshore IBC there can be advantageous in certain scenarios. When considering commercial projects, we meticulously evaluate whether registration aligns with clients’ goals, weighing the pros and cons to offer the best solution. Activities involving banking, trusts, insurance, or gambling may not be compatible with an offshore IBC in the Marshall Islands. Furthermore, its reliance on the US, a proponent of unveiling offshore secrecy, may not meet requirements for confidentiality and anonymity.
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An Offshore in the Marshall Islands: Optimal for Specific Business Needs
The Marshall Islands is optimal for maritime ventures, boasting one of the world’s largest ship registries with over 1,600 vessels. Registering an offshore IBC there strategically benefits companies eyeing IPOs and global exchange listings. It has facilitated numerous successful IPOs and appeals to startups seeking investment rounds. Moreover, it fosters international trade and online businesses.
A Marshall Islands Offshore Company: Ideal for Serious Business Endeavors
The laws governing offshore IBC registration and operations in the Marshall Islands closely resemble those in the American state of Delaware, often regarded as the primary offshore jurisdiction of the United States. This streamlined registration process and promising development prospects make it an excellent choice for those anticipating selling a portion of their offshore company in the future.
Key aspects to consider:
- An offshore IBC in the Marshall Islands requires at least two positions in its management structure: a director and a secretary.
- Both natural and legal persons can fulfill the roles of director and secretary.
- Nominee services are formally allowed in the Marshall Islands. Opting for a nominee director and secretary is possible for those seeking privacy (this service is not included in the standard package).
- The positions of director and secretary can be combined, along with the beneficial owner status, to optimize the offshore IBC budget.
It’s worth noting that the Marshall Islands was removed from the European Union’s offshore blacklist in October 2019. The jurisdiction demonstrated its commitment to international standards of transparency and cooperation. This significant development bolstered the global reputation of the Marshall Islands and brought it renewed attention from entrepreneurs seeking a reliable and compliant offshore jurisdiction for their businesses.
Offshore IBC Registration in the Marshall Islands: Name and Share Capital Structure
When registering an offshore IBC in the Marshall Islands, corporate law imposes no specific requirements or unrealistic conditions. One notable flexibility lies in the choice of company names, which can be registered in any language as long as they utilize the Latin alphabet. To mitigate potential issues during registration, it’s advisable to prepare several alternative names.
Key Considerations:
- The name of the offshore IBC in the Marshall Islands can optionally include standard corporate suffixes such as Limited, Ltd., A.G., Corporation, Corp, S.A., Incorporated, Inc., etc.
- However, certain words are prohibited from being used in the company name, including Bank, Insurance, Assurance, Reinsurance, Trust, Foundation, and Charity.
Upon selecting a suitable name, we proceed to verify it with the register. Once approved, the focus shifts to determining the share capital structure, with the following details:
- The share capital of an IBC in the Marshall Islands can be of any size and nominated in any currency.
- For shares without a par value exceeding 500 or a share capital surpassing USD 50,000, a small one-time tax applies upon registration.
- Typically, the share capital of an offshore company in the Marshall Islands does not exceed USD 50,000, and at the incorporation stage, a nominal share capital of USD 1 suffices.
Document Requirements
These requirements are standard across most offshore jurisdictions, including the Marshall Islands. The documents necessary for company registration include the following:
- Notarized copies of the passports of IBC/partnership founders.
- Proof of actual residence, such as copies of paid utility bills, with mandatory translation into English if not originally in the language.
- Additional registration documents for legal entities appointed as directors/shareholders, which can be obtained upon request from our experts.
Compliance and Additional Costs
Entrepreneurs must promptly submit beneficial ownership information upon request, with annual certification mandated for all IBCs. This includes scrutiny of lists of directors, beneficial owners, and managers to ensure compliance.
Incorporating an offshore IBC in the Marshall Islands entails additional costs beyond the USD 3,285 basic package fee. The final expenses depend on specific requirements, business scope, residency/tax status, selected additional services, and the need for nominee services. Our experts are available to tailor an affordable offer to meet your needs, covering IBC registration, state fees, registered agent services, registered office, original corporate documents, and worldwide courier delivery.
Summary of Additional Services
Additional services are available for entities incorporated in the Marshall Islands, each with its associated fee. These services range from document amendments to receiving certificates and reports. Here’s a summary of the key services and their respective costs:
Document Services:
- Set of copies of documents with an apostille: USD 1,900;
- Amendments to Articles of Association: Prices vary depending on the type of amendment;
- Merger Agreement: USD 900;
- Certificate of Conformity: USD 1,500;
- Certificate of Dissolution: USD 600;
- Withdrawal of voluntary dissolution: USD 2,250;
- Certificate of Appointment of Directors and Officers: USD 900;
- Declaration of Shareholders and Beneficial Owners of Bearer Shares: USD 1,200;
- Certificate of Authorization: Prices vary depending on the need for apostille;
- Certificate of Good Standing: Prices vary depending on the need for apostille;
- Certificate of Registration: USD 750;
- Certified copy of registered documents: USD 700;
- Articles of Domestication: USD 1,500;
- Certificate of Domicile Transfer to Another Jurisdiction: USD 2,500;
- Certificate of Amendment, Conversion, Cancellation, Operating Agreement, Domicile, or Dissolution: Prices vary depending on the entity type and action;
- Professional Director Service: USD 3,400 plus expenses.
These services cater to various needs, such as legal compliance, administrative requirements, and operational support, allowing businesses to manage their affairs in the Marshall Islands efficiently. Contact International Wealth agents for further inquiries or to request services related to Marshall Islands offshore company registration.
Barry Lachey is a Professional Editor at Zobuz. Previously He has also worked for Moxly Sports and Network Resources “Joe Joe.” he is a graduate of the Kings College at the University of Thames Valley London. You can reach Barry via email or by phone.
