Marshall Islands: how to open an offshore company quickly
Opening an offshore company in the Marshall Islands is an opportunity to save on taxes. This independent country is not on the EU blacklist, so banks conduct transactions quickly, there are no barriers to international business.
Features of the offshore
The Marshall Islands is a country in the Pacific Ocean, which signed the Compact of Free Association with the United States and the leasing of land for the U.S. missile testing range. While America recognizes the independence of the Marshall Islands, it has the right to be on its territory. The United States is responsible for the defense and external security of the Marshall Islands and guarantees financial help for the republic.
U.S. support has provided the state with a high level of stability, while the local laws allow businesses to register offshore companies and pay no taxes. They are exempt from:
- corporate tax,
- income tax,
- sales tax,
- assets tax,
- stamp duty,
- turnover reporting obligations,
- currency control, etc.
The Marshall Islands offers a high level of confidentiality. Information about the first persons on the board is not public, as it is stored and handled only by the company's registration agent.
The government does not collect information about shareholders and board members, so it is impossible to identify the owners of the offshore based on official registries. The laws allow an offshore company opened in the Marshall Islands to issue bearer shares, which allows keeping the names of their owners secret.
Features of quick offshore registration
- The company can be registered remotely.
- A nominal director is allowed.
- No minimum share capital requirement.
- The sole board is allowed. The company can be owned by both individuals and legal entities.
- No need to file financial statements.
- The audit is not required.
- Board meetings and general meetings can be held anywhere in the world.
- There are two registers of shareholders and directors. They do not have to be submitted to the state authorities, so you do not have to worry about confidentiality.
- The state fee starts as low as $450.
How to set up an offshore company fast
An offshore in the Marshall Islands can only be set up through a registered agent, and you should contact IT-OFFSHORE consultants to get one. All procedures will go through this person.
Company registration consists of the following steps:
- Checking the uniqueness of the company name.
- Filling out an application for the establishment of the company. It should be backed up with the necessary papers, and the list of such documents depends on the type and peculiarities of the business.
- We prepare constituent documents necessary for the registration of an offshore, appoint nominal employees, rent an office, etc.
- We register offshore.
Offshore registration in Marshall Islands 2022 is fast, and it normally takes from 1 to 3 days. When the firm is registered, you will receive a certificate of incorporation and other founding documents. If you want to appoint your own director, the nominee for that position resigns.