Marshall Islands
Marshall Islands, officially the Republic of the Marshall Islands, is an island country located near the equator in the Pacific Ocean.
Capital: Majuro
Official languages: English, Marshallese
Currency: USD
The Marshall Islands are listed among interesting offshore destinations mainly because the local jurisdiction allows the issuance of bearer shares, which together with the use of nominee services guarantee a high degree of ownership anonymity. The Commercial register provides only partial information that is publicly accessible about the existence and address of the company, and the date on which it was established.
Main benefits of a company in Marshall Islands
- Local jurisdiction that allows the issuance of bearer shares, which, together with the use of nominee services, ensure a high degree of anonymity of property. The Commercial register is partially accessible to the public and contains only the information on the existence and address of the company and the date of its foundation. Lists of directors and shareholders are known only to the registration agent. Nominee services can be used for greater anonymity.
- The legal form of the company is International Business Company (Ltd.), Corp., Inc. and more.
- Short time needed for the company formation, usually within one day.
- The minimum amount of registered capital is not specified, but the standard authorized share capital of the company is USD 50.000.
- Companies based in the Marshall Islands are exempt from all taxes (assuming that the business activity and company management takes place outside the territory of the Marshall Islands), they do not have a tax ID, do not pay VAT, and the shareholder is not a taxable entity. The shareholder pays only an annual flat fee with respect to the share capital. Companies with a registered capital of up to USD 50.000, pay USD 450, - USD flat annual tax to the Marshall Islands government. They are not obliged to submit a tax return.
- Bookkeeping and providing information on the place of their archiving is mandatory, the financial statement is not required.
- Audit is optional.
Marshall Islands have not concluded any agreement for the avoidance of double taxation.
The most common use of the company in the Marshall Islands
The parent company to another company is most often established because of the high degree of discretion and anonymity of property ownership.
Establishing an offshore company in the Dominica
