Marshall Islands Company incorporation is also one of the services available in Singapore. Marshall Islands is a zero tax jurisdiction with which non-resident corporations are exempted from taxation on their income and assets. Marshall Islands is made of 29 atolls and 5 islands situated in the Pacific Ocean. Equipped with modern telecommunication system and computerization of both the public and private sector, the country is compatible for most modern businesses. Marshall Islands offers a modern and attractive business and financial center for international companies and especially popular among maritime companies.
These are the common features of a Marshall Islands Company:
There is no minimum capital requirement.
Shares can be issued with or without par value in a variety of forms and classifications and may include voting or non-voting, Preferential or Common etc.
Shares may be issued for money or for other valuable consideration.
Shares are issued in registered form only; Bearer shares are no longer permitted.
Minimum one shareholder and one director are required.
Shareholders, directors and officers need not be resident in the Marshall Islands and can be of any nationality.
Directors and/or officers can be either corporate entities or natural persons
Appointment of company secretary is required and can be of any nationality and need not be resident in Marshall Islands.
In addition, these are the benefits of forming a Marshall Islands Company:
Corporate formation can be obtained in one day.
Directors, officers and shareholders may be of any nationality and may reside anywhere. The meetings may be held in any location or proxy if desired.
The corporate headquarter (where the records are kept) can be located in any country.
Facsimile filing is permitted but the signature must be legible and accompanies the printed name and title of the signatory.
Corporate documents may be executed by a single officer or authorized personnel of the corporation. Notarization and consular approval are not required.
No annual reporting or auditing is required for IBC.
There is no foreign exchange control.
Competitive incorporation fees and license fees.
Absolute confidentiality, the Memorandum and Articles of Association are the only documents to be held on the public record.
Ready-made shelf companies are available.
Lastly, Marshall Islands companies are prohibited to:
Do business with residents of the Marshall Islands.
Own interest in real property in the Marshall Islands.
Carry on business in banking or trust and insurance or re-insurance, business, except if the appropriate license is granted.
Rikvin provides a comprehensive service on offshore company setup such as Marshall Islands Company to Singaporeans and international clients. Rikvin’s team of offshore incorporation experts consists of qualified accountants and corporate secretaries who are ready to assist you with each process.
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