Open IBC Company on Marshall Islands in 2020
International Business Company (IBC) is the most common legal form of activity in offshore zones for foreign entrepreneurs. It allows doing business abroad and legally avoiding most taxes. You can open an IBC company in the Marshall Islands remotely in less than a week.
Prohibited activities for IBCs in the Marshall Islands
- Financial and banking activities;
- Activities of insurance companies;
- Activities of online casinos, sweepstakes and organization of gambling;
- Receiving passive income from the activities of holding companies.
Owners of international business companies must not be residents of the Marshall Islands, conduct commercial activities and receive income from other sources in their territory. International Business Companies are subject to a separate type of law based on American and British financial laws.
Why the Marshall Islands?
Today, this jurisdiction is the safest offshore jurisdiction and a country with developed engineering, transport and communications infrastructure. The Marshall Islands are not on the EU blacklist, and the activities of their regulatory authorities are carried out in strict compliance with FATF (Financial Action Task Force) and OECD (Organization for Economic Cooperation and Development) requirements. If you have an offshore business, in the Marshall Islands, this jurisdiction is more prestigious and stable than other countries with simplified rules for foreign organizations.
Among the obvious advantages for entrepreneurs are: accelerated procedure of company registration (3-10 days), fixed duty instead of taxes (once in the reporting period), the possibility of opening a bank account, and disclosure of information about beneficial owners, the right to legally minimize business costs and not to submit annual financial statements to regulatory authorities.
List of documents and cost of IBC registration in the Marshall Islands
- Documents confirming the identity and place of residence of the founders;
- Documents confirming the presence of the director and secretary in the company;
- Consent to processing of personal data;
- Documents confirming payment by the founders of the share capital;
- Package of applications in established forms.
IBC in the Marshall Islands will cost its founder a minimum of 3,500 USD; this amount includes the state fee, registration documents, and services of an agent in the islands. An annual renewal of a company's operating permit will cost approximately $2,300.
Usually, during the registration process, the list of expenses increases: costs that are unnecessary and imposed by enterprising agents appear, and the amount of expenses becomes much larger. In order to minimize costs and speed up the processing of documents, it is necessary to apply for support from qualified specialists. IT-OFFSHORE experts will help to understand all the nuances of the Marshall Islands jurisdiction or, if the client wishes, will take over the whole process of creating a company from scratch.