International Business Corporations (IBCs)
IBCs are one of the most widely used business vehicles. IBCs are considered distinct legal entities and are utilized for a variety of purposes, such as holding securities and bank accounts, entering joint ventures, trust and estate planning, asset protection, public offerings for raising capital in world markets, international trade, and holding vessels.
IBCs give owners the ability to maximize profitability while minimizing personal liability. In the event of a business loss or lawsuit, shareholder liability is limited to his/her direct capital investment in the corporation.
Entity formation is simple; a company may be formed in one business day. The following information needs to be provided in order to proceed with the incorporation of an RMI IBC: corporate name, share structure, and organizational activity. RMI IBCs may be formed online or by contacting any IRI office.
- Only 1 director of any nationality, is necessary for your company
- A company secretary must be appointed
- No minimum share capital requirements
- Tax exempt status
- No requirements to hold annual general meetings
- No public disclosure of shareholder and director information
- No requirements to file accounting records and financial statements
- No auditing requirements
An International Business Company is the most popular form of incorporation in the Marshall Islands.
Corporate names may be in any language as long as Roman characters are used. Any standard, internationally accepted, corporate suffix is permitted. Name clearance may be achieved through any IRI office. Names may be reserved at no cost for up to six months in advance of formation. Two alternative names should be provided in the event that the first selection is not available.
The Marshall Islands Corporate Registry provides the registered office and agent services.
There is no minimum share capital requirements for a company in the Marshall Islands. Share capital can be expressed in any currency with the standard share capital being either 500 shares without par value or capital with a stated par value up to US$50,000
IBCs may issue shares in registered and/or bearer form with par or no par value. Par value of shares may be denominated in any currency. A standard formation is 500 registered and/or bearer shares without par value, or up to 50,000 USD worth of par value stock. Authorized share capital above these amounts will incur a one time capitalization tax.
Search the RMI shelf company database to find real-time results contained within the Registrar as of the date and time of when the search was performed. The information retrieved from the database is subject to change without notice.
Only one shareholder is required for a Marshall Islands company, with no restrictions on nationality or residency. Furthermore, official registers of shareholders and their details are not required therby offering high levels of confidentiality and offer anonymity for the company shareholders. Shareholders may be an individual or corporate, with no limit on the maximum number of shareholders and with directors being permitted as shareholders if necessary.
Only a single director is required for a company registered in the Marshall Islands, with no restrictions on nationality or residency. Nominee directors are permitted. A corporate register detailing the information of the company directors is not available for public inspection offering confidentiality and anonymity to the company directors.
There are no requirements to file annual returns in this jurisdiction.
Non-resident offshore companies registered in the Marshall Islands not engaging in business activity in the Marshall Islands, are exempt from corporate taxation and as such there are no requirements for a company to file a tax return.