- Register an International Business Corporation in the Marshall Islands
- Documents Required to Register a Company in Marshall Islands
- Cost of Company Formation and Maintenance in Marshall Islands
- British IBAN Payment Account
- Documents Required to Open a Payment Account in the UK System
- Steps to Take in Order to Register an IBC in Marshall Islands and Open a Payment Account in the UK System
We will assist you in registering an IBC in the Marshall Islands with a British IBAN payment account. The whole procedure is carried out remotely.
Formation of an international business corporation in the Marshall Islands is the gateway to one of the ultimate places where true offshore companies are established. Here you can find all classic offshore features such as no taxation, fast registration, data security.
The jurisdiction is particularly well suited for the formation of online business companies and companies providing trading services. It is the best jurisdiction for companies that are going to own and operate ships and yachts.
But an important point should be mentioned. The Marshall Islands are closely related to an influential nation, the United States. Companies that do not want their data to become available to the representatives of this country, need to keep that in mind. Also, the Marshall Islands are not suitable for insurance and reinsurance companies, for running a gambling business, or for setting up banks.
A big advantage of a company in the form of an IBC (international business corporation) in the Marshall Islands is the possibility of going public.
Register an International Business Corporation in the Marshall Islands
It is mandatory to have just two positions when registering a Marshall Islands IBC, director of the corporation and secretary. Both of these positions can be held by natural persons and legal entities, which is certainly yet another advantage. Likewise, these positions can be held by the same person, and that person may well be the owner of the company themselves.
As for the name of your company, you can use any language. But the name should be written using the Latin alphabet. Suffixes are required, such as Limited, Ltd, A. G., Corporation, Corp, S. A., Incorporated, Inc. etc.
It is worth keeping in mind certain words the use of which in company names is restricted: Bank, Insurance, Assurance, Reinsurance, Trust, Foundation, Charity. When registering a Marshall Islands IBC , it is better to provide another company name in case the initial name is already taken and registered.
Once you are done with choosing a name for your international business corporation, you can move on to the share capital. Actually, the share capital can be of any size and in any currency. There is a subtlety as follows: if you exceed more than 500 shares or if the share capital is more than 50,000 USD, you will have to pay a one-time tax at registration, the amount of which is relatively small.
As of October 2019, the Marshall Islands were removed from the EU offshore blacklist. The country implements all the requirements that the European Union imposes on the exchange of information. Thanks to this, the reputation of the jurisdiction and its companies has improved, which immediately attracted the attention of new business persons.
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Documents Required to Register a Company in Marshall Islands
You will definitely need the following:
- Passport copies the international business corporation founders;
- Proof of their residence (a utility bill not older than two months);
- If the option of a corporate director and secretary was chosen, you will also need to provide registration documents of these legal entities.
Certain innovations to the legislation were introduced in 2018. Every year, starting from the date of registration or from November 9, 2018 (for those companies that were registered earlier), the list of directors, managers and other persons should be confirmed for relevance.
Upon request of the country’s authorities or the registry, all documents of the international business corporation need to be provided. Otherwise, a fine of up to 50,000 USD or company liquidation apply.
Cost of Company Formation and Maintenance in Marshall Islands
The cost of registering a Marshall Islands IBC is 3,285 USD. After the payment, you will receive the following:
- The paid state fee;
- Registered address;
- Services of registered agent in the country;
- A set of original corporate documents with courier delivery worldwide;
- Registered international business corporation.
Also, there is a need to renew the IBC every year. Its cost is 2,250 USD a year. The cost includes the following:
- Payment of the state renewal fee;
- Services of registered agent in the Marshall Islands;
- Company’s registered address.
Here is the list of documents issued when registering an international business corporation in the Marshall Islands:
- Certificate of Incorporation;
- Certificate of Good Standing; Power of Attorney;
- Articles of Incorporation;
- The Registry’s consent to the appointment of a director;
- Approved Articles of Incorporation (optional);
- Paid service fee (for year one).
Cost of extra services that may be required
| A set of apostilled copies of documents | $1,900 |
| Amended Articles of Incorporation (and additional capitalization tax if applicable* *Capitalization tax applies to corporations whose share capital exceeds five hundred (500) shares without par value or with a total par value of more than $50,000 or its equivalent) | $1,200 |
| Amended and restated BC Articles of Incorporation | $1,625 |
| BC Merger Agreement | $900 |
| BC Certificate of Conformity | $1,500 |
| Registered BC, LLC, LP, GP Minutes | $750 |
| Registered BC Articles of Incorporation | $750 |
| Registered BC Power of Attorney | $500 |
| Certificate of BC Dissolution | $600 |
| Certificate of Revocation of BC Dissolution | $2,250 |
| Certificate of BC Directors and Officers | $900 |
| Certificate of BC Directors and Officers (apostilled) | $1,400 |
| Declaration of Holders and Beneficial Owners of BC Bearer Shares | $1,200 |
| BC, LLC Certificate of Incumbency (no apostille) | $900 |
| BC, LLC Certificate of Incumbency (apostilled) | $1,400 |
| BC, LLC, LP, GP Certificate of Good Standing (no apostille) | $750 |
| BC, LLC, LP, GP Certificate of Good Standing (apostilled) | $1,250 |
| BC Certificate of Registration | $750 |
| Certified copy of a registered BC, LLC, LP, GP document | $700 |
| Registered BC Articles of Incorporation | $800 |
| Registered BC Minutes | $800 |
| BDC Articles of Domestication | $1,500 |
| BC Certificate of Transfer of Domicile | $2,500 |
| Registered BC Power of Attorney | $700 |
| LLC Certificate of Amendment | $1,200 |
| LLC Certificate of Conversion | $1,500 |
| LLC Certificate of Cancellation | $1,000 |
| Registered LLC Operational Agreement | $750 |
| LLC Certificate of Domicile | $1,500 |
| LP, GP Certificate of Amendment | $1,200 |
| LP certificate revocation | $1,000 |
| GP Certificate of Dissolution | $900 |
| Apostille | $500 |
| Financial report (up to 40 transactions a year) | $2,400 |
| Financial report (41 to 150 transactions a year) | $4,500 |
| Financial report (more than 150 transactions a year) | upon request |
| Virtual office in Panama, per year- Address- Mail/courier- Phone with the message recording function | Virtual office in Panama a year |
| Virtual office in Panama, a year | |
| Address | |
| Mail/courier | |
| Phone with the message recording function | |
| Professional directors service | $3,400+expenses |
Having completed the registration of a Marshall Islands IBC, you can proceed with the opening of a British IBAN payment account.
British IBAN Payment Account
The first and foremost advantage of this payment system is the diverse range of financial services provided. Payments and money transfers (34 world currencies are available), flexibility in managing transactions and your funds (from any device), invoicing, loans and trade finance, escrow accounts, marketing and IT development, Internet acquiring services and services for cryptocurrency projects.
A current account serves as an accessible and high-quality means of managing your own cash flows to any country of the world. Payments, transfers, etc. can be easily controlled at any time, and all information about any financial transaction can be seen in the statement that you can order in PDF format. The main advantage is that the payment account in the UK system can be opened online.
Documents Required to Open a Payment Account in the UK System
First of all, you will need to carefully fill out and scan the corporate account form. The image must be clear and detailed.
Accepted image formats: jpg, jpeg, png, pdf, bmp.
The international business corporation founders need to provide the following:
- Copies of travel passports;
- A short CV;
- Proof of residence (e.g., a rental agreement, either the original or a notarized copy).
Documents of the international business corporation registered in the Marshall Islands:
- Copy of Certificate of Incorporation;
- Copy of the Articles of Incorporation/Constituent Agreement/Operational Agreement;
- Proof of business (bank statements, financial reports, registration certificates from fiscal authorities).
- You will need to give an idea of the company’s operations, turnover, main counterparties, settlements, fixed assets, etc.
All of the above mentioned documents must be made in English or translated into English. There is a possibility of other documents being requested by the payment system.
Consideration of documents usually takes 7 days from the date of submission of all necessary documents.
Steps to Take in Order to Register an IBC in Marshall Islands and Open a Payment Account in the UK System
- Please email us at info@offshore-pro.info and inform us that you are interested in setting up an international business corporation in the Marshall Islands with a bank account.
- Provide your documents to our expert for the initial review.
- After that we will ask you to pay for our services. The cost starts from 5999 EUR.
- Then you will need to prepare the set of documents required for the Marshall Islands IBC formation with a British IBAN payment account.
- We will register an IBC in the Marshall Islands for you with the payment account in the UK system.
- Additional documents may be required. We will inform you on that in due course.
- After the registration procedure is completed, you will be able to start your scheduled business operations.
