Marshall Islands


General Information


The Republic of the Marshall Islands (RMI) is a Micronesian nation of atolls and islands in the middle of the Pacific Ocean, just west of the International Date Line and just north of the Equator.

As of July 2011 the population was 67,182.

In 1986, independence was attained under a Compact of Free Association with theUnited States.

For incorporation queries in this jurisdiction, please complete and return to us our Company Formation Questionnaire.

For further information on our services provided in this jurisdiction and for the list of our currently available self-companies in this jurisdiction, please Contact Us.

JURISDICTION INFORMATION CHART

GENERAL INFORMATION MARSHALL ISLANDS
Company Law Business Corporations Act, 1990 and regulated by the Registrar of Corporations.
Type of Company Non-resident
Language of Legislation and Corporate Documents English
Taxation of Foreign Profits None
Exchange Controls None
Length of Time to incorporate 1 day
Shelf Companies available Yes
CORPORATE NAMES
Name Restrictions Names identical or similar,offensive words
Endings and Abbreviations Required Limited/Ltd., Corporation/ Corp. Incorporated/Inc., Sociedad Anonima/S.A.
Length of Time to Verify Name Availability 1 hour
Reservation of Names Permitted Yes
Language of Name Any language using the Latin alphabet
Name of Banks, Insurance, Investment Fund, Trust Company or their equivalent require consent and/or licence Yes
CAPITAL AND SHAREHOLDERS
Minimum Number of Shareholders One
Local Shareholders Required No
Corporate Shareholders Permitted Yes
Disclosure of Shareholders No
Minimum Authorized Capital Required No minimum
Authorized Capital/Number of shares that the company is allowed to issue US$1,000
Bearer Shares Permitted Yes
Registered Shares Permitted Yes
No Par Value Shares Permitted Yes
DIRECTORS AND OFFICERS
Minimum Number of Directors One
Qualifications of Directors Legal age
Officers Required Yes (secretary)
Corporate Directors/Officers Permitted Yes
Nominee Directors/Officers/Shareholders Permitted Yes
Appointment of Subsequent Directors/Officers Memorandum and Articles of Association
MEETINGS
Annual General Meeting of Shareholders Required No
Annual General Meeting of Directors Required No
Location of Directors and Shareholders Meetings Anywhere
Adoption by Consent Permitted Yes
Quorum required for purposes of meetings Memorandum and Articles of Association
LOCAL REQUIREMENTS  
Local Qualified Registered Agent/Office Yes/Yes
Filing of Register of Shareholders Optional
Filing of Register of Directors/Officers Optional
Filing of Register of Charges Optional
Register of Directors/Officers to be kept at Registered Office Yes
Company Seal Required Optional
Copy of Minutes to be kept at Registered Office Optional
Copy of Share Register to be kept at Registered Office Yes
ANNUAL REQUIREMENTS
Minimum Annual License Fee or Franchise Tax US$450
Annual License Fee or Franchise Tax Due Date Company’s Anniversary
Applicable Surcharges for late payment and Restoration fees  After 9 months outstanding, company is revoked. +12 months a penalty of UD$400 applies and +15 months a penalty of US$3,000 applies
Requirement to File Annual Returns No
Requirement to Submit Annual Audited Accounts No
OTHER RELEVANT INFORMATION
Member of Apostille of the Hague Convention Yes
Increase or Reduction of Capital Directors’ resolution
Re-domiciliation/Continuation Allowed Yes
Reinstatement at Registry Yes
Dissolution/Striking-off for not payment of annual license fees Compulsory or voluntary winding up and dissolution; and cancellation of the certificate of formation for non-payment
   

 

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