How to open an LLC in the Marshall Islands in 2023
Opening an LLC in the Marshall Islands in 2023 is an ideal option for a business that wants to save on taxes. A non-resident company doesn't have to pay corporate tax, tax on profits, capital gains, gifts, inheritance, and stamp duty. Local authorities are eager to accommodate investors and quickly register the business.
Advantages of the Marshall Islands for an LLC
- A non-resident company is exempted from many taxes. If it wants to enter the local market, the corporate fee is 3%.
- Directors and shareholders are not required to be local.
- The identity and data of shareholders and directors are not published.
- No paid-up capital is needed to set up a company.
- Nominee directors and shareholders are allowed to maintain the anonymity of the real ones.
- The general meeting of the LLC is not tied to the island and can be held anywhere in the world.
- No reporting or bookkeeping requirements.
- The U.S. dollar is the local currency, so there are no currency exchange problems.
- English is the official language.
- There is no exchange control.
- The authorities are loyal to cryptocurrency.
- Close ties with the United States, including the signed Treaty of Free Association.
Features of LLC in the Marshall Islands
A Limited Liability Company (LLC) combines the best features of an IBC and a partnership. Shareholders and members are protected from personal liability that goes beyond their capital investment. Members have the flexibility to allocate profits and losses.
An LLC is great for transactions that require passive investments. Examples are in real estate, oil, modern technology, research, and development. Also, LLC is ideal for international business as it is exempt from many taxes and does not require mandatory meetings on the island.
LLC members can remove themselves from business management by appointing managers. But they retain their authority and can resume active work in the company at any time if desired.
How to open an LLC in the Marshall Islands
To open an LLC in the Marshall Islands quickly and without problems, the company must meet these requirements:
- Choose a unique name.
- The number of shareholders should be at least 1 person.
- An administrator and a secretary are needed.
- Authorized capital - starting at $50,000.
- Open the main office in the Marshall Islands.
- State duties must be paid.
- Prepare a memorandum, charter, resolution of the first board, and register of members and administrators.
A big advantage of LLC registration in the Marshall Islands is that you can do it remotely in 7 days. To do so you need to, contact our company's representatives. Having a registered agent in the Marshall Islands is on the list of basic requirements for opening an LLC.
It is an important point that the business license must be renewed annually, otherwise, it will be canceled. This should be done before its expiration date by applying to the regulator with the proof of paid state fee.
How to open an offshore business quickly
Contact IT-OFFSHORE experts to register an LLC in the Marshall Islands in 2023.