Marshall Islands: the Fastest IBCs on the Planet?

Many foreign entrepreneurs are currently putting business re-domiciliation to an offshore jurisdiction as their top priority. However, sometimes they venture on their own and discover that the whole thing is not as straightforward as it seemed. You go through a full cycle of the international business structure (IBC) registration and amount to nothing: you’ve got the company you wanted and fail to get an operational account, for example. Wish to avoid such situations? We at Offshore Pro Group are here to provide the support you need in realizing your aspirations without much hassle and far quicker than you can imagine, which may be an essential point for you.

Some say that offshore entity formation is easy, while others waste a lot of time and money to end up with some kind of pyrrhic victory. Who is right and who is wrong? 

Well, success is dependent on many factors. Failures do occur, and the reasons may include the legal ignorance of the entity founders, mistakes in applications you file, or non-conformity with the requirements regarding the economic and real presence of a foreign entity in the offshore jurisdiction. If you feel that it may be hard to cope with all this, you will need a reliable expert (and we have them!) to help you minimize these risks and stay focused on your business rather than red tape issues. 

The founder’s presence during the offshore company registration process is often a mandatory condition, and many entrepreneurs are too busy to fly halfway around the world just to attend a 5-minute formal interview or put a signature on some document. Many entrepreneurs find it inconvenient – but fortunately, we can spare you the hassle.

The sole jurisdiction where IBCs can really be opened online within 24-48 hours is the Marshall Islands. The Offshore Pro Group’s convenient service package includes comprehensive business structure formation with a business account, office premises, and a dedicated local agent. 

Establishing an IBC in the Marshall Islands in 24 hours: Mission Feasible!

How can we describe the Marshall Islands in a few precise words? Well, it is an independent insular republic hidden somewhere in the large expanses of the Pacific Ocean. This tiny area ranks among the top safe and secure destinations where you can form international business companies (IBCs) to operate worldwide without any restrictions and apply for registration of private/corporate vessels. 

We offer IBC formation services within 1-2 days, and we can also guide you through the procedure of registering an operational account to conduct your international business operations and provide related services of your choice.

If you are thinking substantively of an offshore company formation in the Marshall Islands with the help of our specialists, make a few simple steps:

1. Schedule a meeting with our experts
2. Provide documents on demand
3. Provide proof of payment for the services (we accept all types of currency, including Bitcoin)
4. Obtain constituent documents and supplementary services, including a personal and corporate bank account
5. Start realizing the ambitious business plans – we are sure you have them!

IBC in the Marshall Islands – Outline

The International Business Company (IBC), which may also be referred to as Non-Resident Domestic Corporation (NRDC), is an offshore foreign entity that international investors opt for in the Marshall Islands in the overwhelming majority of cases. It gives the right to undertake any international activity except for certain dedicated niches (insurance, trusts formation, banking, and financial services). 

Some important points on substance for prospective IBC owners:

1. Under the current Economic Substance Regulations adopted in the Republic of the Marshall Islands, the legal persons with the status of Marshall Islands tax residents, including Foreign Maritime Entities (FME), have to file a declaration of economic presence (substance) via the Registrar’s portal.
2. These requirements are applicable if your business structure has a management center in the Marshall Islands and/or carries out relevant activities (financing, trusts, shipping, insurance, etc.).
3. IBC structures which can confirm that they pay taxes outside the Marshall Islands and do not comply with the above substance requirements in full or at all are NOT demanded to be compliant with the provisions for real presence in the Marshall Islands. 

What You Get When You Form an Offshore Structure (IBC) in the Marshall Islands

Foreign entrepreneurs often opt for the Marshall Islands as a really good place to set up international business companies (IBCs). Why is it? Well, they simply value the benefits available on the island with its legislative framework: 

• No restrictions on IBCs to be in full possession of a foreign owner and have no local owners or shareholders.
• The financial obligations imposed on IBC shareholders are limited by the number of shares that each of them possesses. 
• An IBC you establish in the Marshall Islands is under no obligation to keep books, file tax returns, or submit annual account books that record its operations. Nevertheless, it is important to inform the registrar on an annual basis about the substance, providing proof that the company has a real economic presence on the island – or evidence of management and tax residency status in another state. 
• Confidentiality – absolutely all the information concerning IBC owners is kept in a closed registry, and sharing it with third parties is strictly forbidden. The Marshall Islands favor the use of the nominee service, thus raising the degree of beneficiary’s anonymity. 
• An IBC whose source of profit is in no way connected to the Marshall Islands is a completely tax-exempt structure (no corporate or property taxes, stamp duty, etc.). 
• No foreign exchange controls are imposed on international companies. 
• An IBC can be formed through our partners and specialists in a matter of 24-48 hours, being the swiftest procedure available in the world enabling an offshore entity establishment. 

Marshall Islands Offshore Entity: Basic Provisions

Below you will find the current business regulations that an offshore IBC in the Marshall Islands should comply with to gain access to all benefits and advantages, involving zero tax rate and a high level of beneficiary confidentiality protection: 

• There is no maximum value set for the IBC’s share capital, but it generally equals at least USD 50,000 + one issued share at a fixed price. 
• Marshall Islands IBC management:
  • Director –one person (legal or natural person) or more of any residence and place of origin, including a nominee director
  • Company Secretary – you can engage a local or foreign person at your discretion
  • IBC management – board of directors
• An offshore IBC should specify its corporate office and address in the Marshall Islands to the Registrar. Since the entity is managed externally, the correspondence is received by the designated company representative, subject to the notification provided to the registered agent. 
• The meeting of the company’s top executives and shareholders can be organized in absolutely any jurisdiction in any format, including remote (telephony, Skype, other means of telecommunication, etc.).
• IBC is under no obligation to present annual financial statements but should keep books to record the company’s financial position. 

How to Form an IBC in the Marshall Islands – Personal and Remote Format

Are you going to establish an international company in the Republic of the Marshall Islands in the near future? Please carefully study the current corporate law and make an analysis taking into account the country of tax residence of the founder and shareholders.

The entire IBC formation process consists of several phases:

• Select a name for your business entity.
• Rent an office, get legal and postal addresses. 
• Find a registered agent locally (this is an obligatory thing to do for a non-resident wishing to establish an operational structure in the Marshall Islands).
• Select the company name to comply with the existing demands and restrictions. 
• Prepare constituent documents and transfer the package to the Registrar.
• Obtain a certificate of incorporation.
• Open a business account by picking out a bank and going through the entire procedure set out in the regulations. 

Note: When you decide to establish an entity and finally select the Marshall Islands as the jurisdiction, pause and think of the extra time and money required to hire a translator, search for an agent, and visit a bank. The IBC registered agent’s fee covers all costs, including reviewing your documents for possible mistakes. No second of your precious time will be wasted! 

Launch your IBC by Engaging Offshore Pro Group Specialists Now

Offshore Pro Group is an international portal whose experts and specialists are ready to render a full range of services to solve corporate, banking, and immigration issues.

We offer:

1. Marshall Islands IBC establishment ONLINE in 1-2 days.
2. Setting up a corporate bank account with the best banks (main account + spare account).
3. Preparation of company documents WITHOUT the owner’s participation – we do everything online. 
4. Assistance in reporting and tax management.
5. Expert advice on current legislative changes and demands for an IBC in the Marshall Islands. 

To use our expertise, please write to us at info@offshore-pro.info.

The information above is provided for reference purposes and in no way replaces legal advice. Please read the Marshall Islands’ official regulatory sources to obtain more precise information on taxes, regulations, and restrictions on the establishment of an international business entity, or schedule a meeting with a specialist.

Good luck with your business endeavors!