Registering a company in the Marshall Islands is a fast, efficient process that involves selecting a company type, choosing a name, preparing documentation, and registering with the Trust Company of the Marshall Islands. By following this guide and utilizing the provided resources, you should be well on your way to successfully establishing your business in the Marshall Islands. Be sure to adhere to the requirements and guidelines to ensure a smooth registration process and a successful start for your company in this business-friendly jurisdiction.
Step 1: Choose your company type
The first step in registering a company in the Marshall Islands is to choose the type of company you want to register. The most common types are:
- Limited Liability Company (LLC)
Step 2: Choose a company name
Before registering your company, you'll need to choose a suitable name. The Marshall Islands' corporate registry, maintained by the Trust Company of the Marshall Islands (TCMI), has guidelines for acceptable names. They can be found at this link: https://www.register-iri.com/corporate
Step 3: Prepare the required documents
Next, prepare the necessary documentation for your chosen company type. The key documents are:
- Articles of Incorporation (for Corporations and LLCs)
- Application for Company Registration (for all types)
- These forms can be downloaded from TCMI's website: https://www.register-iri.com/corporate
Step 4: Identify company officers and shareholders
You will need to identify at least one director (for Corporations) or one member (for LLCs). Directors or members can be individuals or corporate entities. The Marshall Islands do not have public disclosure requirements, so this information will remain confidential.
Step 5: Capital requirements
The Marshall Islands does not require a specific minimum capital for registering a company.
Step 6: Register your company
Once your documents are ready, you can submit your application to the Trust Company of the Marshall Islands (TCMI). This can be done in person, by mail, or online via the following link: https://www.register-iri.com/corporate
The fees for registering a company are as follows:
- Corporation: $450 (approximately)
- LLC: $500 (approximately)
- Partnership: $500 (approximately)
- Trust: Costs may vary
Step 7: Register for taxes Companies
In the Marshall Islands are not subject to income tax or capital gains tax, nor are there stamp duties. However, an annual registration fee must be paid to maintain the company's good standing.
Step 8: Obtain necessary permits and licenses
Depending on your business activities, you may need to obtain additional permits or licenses. Check with the relevant authorities and industry regulators for specific requirements.
The entire registration process, from preparing documents to receiving your Certificate of Incorporation, can take anywhere from 1 to 3 days, making the Marshall Islands one of the fastest jurisdictions in which to incorporate a company.