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Marshall Islands, officially Republic of the Marshall Islands, Marshallese Majōl, country in the central Pacific Ocean. It consists of some of the easternmost islands of Micronesia. The Marshalls are composed of more than 1,200 islands and islets in two parallel chains of coral atolls—the Ratak, or Sunrise, to the east and the Ralik, or Sunset, to the west. The chains lie about 125 miles (200 km) apart and extend some 800 miles northwest to southeast.
Majuro atoll is the nominal capital of the republic.
Government offices are located in the town of Delap-Uliga-Djarrit, named for three islands that were once separated but were later joined by landfill. The Marshalls were administered by the United States as part of the Trust Territory of the Pacific Islands from 1947 to 1986, when the Trust Territory was dissolved by the U.S. government.
None of the 29 low-lying coral atolls and the five coral islands in the Marshall group rises to more than 20 feet (six metres) above high tide. The islands are coral caps set on the rims of submerged volcanoes rising from the ocean floor. The island units of the Marshalls are scattered over about 180,000 square miles of the Pacific. The largest atoll in the group and in the world is Kwajalein, which has a land area of only six square miles but surrounds a 655-square-mile lagoon. The Marshall Islands’ nearest neighbours are Wake Island (north), Kiribati and Nauru (south), and the Federated States of Micronesia (west).
The native people of the Marshalls, the Marshallese, are Micronesians. The most populous atolls are Majuro and Kwajalein, which offers employment at the U.S. missile testing range; together they have almost three-fourths of the country’s total population. The rest of the population lives in traditional villages on the outer islands away from the two urban centres.
A Marshall Islands Non-resident domestic company is a very flexible and tax-free vehicle, with just a few restrictions on the business that the company can carry out. It can engage any legal business activity, except gaming and financial services such as banking, insurance, and trust.
Non-resident domestic companies are also restricted from doing business with Marshall Islands residents or companies but may maintain professional contact with solicitors, barristers, accountants, bookkeepers, trust companies, management or secretarial companies, investment advisors, or other similar persons or entities carrying on business within the Marshall Islands.
This type of offshores corporations are exempt from all form of local taxes.
| Company type | Non-Resident Domestic Corporation (Company limited by shares) |
| Governing corporate legislation | Business Corporations Act (Marshall Islands Associations Law of 1990) |
| Shareholders | Non-resident companies may be incorporated by one or more shareholders, who can be either natural or legal persons, residents or non-residents, without limitations. |
| Directors | A private limited company must appoint at least 1 director, who may be a natural or legal person, resident or non-resident, without restrictions. |
| Information published relating to company officers | Shareholders may elect to not publicly disclose their details. Shareholders may elect to not publicly disclose their details. |
| Liability | The liability of the shareholders for the company is limited to the amount of their respective shareholdings. |
| Accounting requirement/ compliance | Non-resident companies should maintain accounting records, as well as the supporting documentation, and may be held anywhere in the world. It is not required to file an annual return, financial statements or tax return with the Marshall Islands authorities. |
| Corporate income tax | Non-resident companies incorporated in Marshall Islands are not subject to corporate income tax. All trading income, investment income, capital gains, compensations, rents and royalties, as well as sales of goods or supplies of services are exempted from taxation. |
| Standard currency | US$ |
| Shared capital/paid up | There is no minimum share capital established, and this can be denominated in any currency or in more than one currency. The minimum paid in and issued capital may be one share |
| Basis of the Legal System | Common Law. |
| Secretary | A company secretary is required but may be non-resident, and he or she may be the Director. |
| Shares | Non-resident companies may have registered shares, bearer shares, preference shares, and redeemable shares, shares with or without par value and shares with or without voting rights. Shares may be paid up in cash or through the transfer of other assets. The standard formation is 500 shares without par value or up to US$50,000 worth of par value stock. |
| Registered address | A company shall have a registered address in Marshall Islands, provided by a licensed service provider. |
| General meeting | Annual general meetings of shareholders are mandatory but can be held anywhere. Meetings can be held by telephone or other electronic means; alternatively, shareholders may vote by proxy. |
| Electronic Signature | Permitted. |
| Time to form | 1-2 days |
| Renewal date | Anniversary date of the company / Each Year |
| Time Zone | GMT +12 |
| Confidentiality | High Levels |
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