Marshall Islands

Location Pacific Ocean; One-half of the way from Hawaii to Papua New Guinea
Population Population 50,840 (1999 Census)
Native language Marshallese; English is offical language
Currency US Dollar (US$)
Constitution & Political status/stability Sovereign Nation; blend of UK parliamentary and US style of government
Banking & professional facilities Bank of Hawaii, Bank of Guam (both of which are FDIC insured) and the Bank of the Marshall Islands
Legal system Based on adapted trust territory laws, Acts of legislature, municipal common and customary laws
Offshore specialities/expertise Creation of a non-resident domestic corporate programme-1990 to include corporations, partnerships, limited partnerships, unincorporated associations; limited liability company programme since 1996

Income tax
resident 0%
non-resident 0%
resident 0%
non-resident 0%
Corporate tax
resident 0%
non-resident 0%
exempt N/A
Estate duty Yes
Withholding taxes No
Exchange controls
resident No
non-resident No

Are trusts permitted? Yes
Perpetuity period N/A
Accumulation period N/A
Statutory trust law Yes
Trust duty Yes
Forced heirship exclusion Yes
Asset protection measures Yes
Trust register Yes
Resident trustee/s required Yes
Regulation of trustees Yes

Type of corporate vehicles Non-resident domestic corporations, partnerships, limited partnerships, limited liability companies and unincorporated associations
Incorporation time scale One business day
Fees: Incorporation - Government $650 includes first year's annual fee
Other N/A
Annual -
Other N/A
Resident directors required No
Min number of directors required 1
Directors meetings required Yes
Beneficial ownership disclosure No
Shareholder disclosure No
Minimum number of shareholders 1
Bearer shares allowed Yes
No-par value shares allowed Yes
Public share register Yes
Shareholders meetings required Yes
Frequency Refer to by-laws
Place Anywhere
Annual return required No
Audit required No
Foreign currency accounting allowed Yes
Registered office No
Registered agent Yes. The Trust Company of the Marshall Islands, Inc. is the sole registered agent
Stamp/capital duty No
Naming your company Names may not be the same as another corporation on the register of names; corporate suffix required; Registrar may waive requirement
Company mobility provisions/redomicility rules Redomiciliation of corporations and limited liability companies permitted. Mergers with foreign entities permitted. Conversion of corporations and limited liability companies to other entities permitted