Marshall Islands Incorporation: The Minimum Requirements

By Author: Chris Sazon
Total Articles: 1
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The Republic of Marshall Islands (RPI) is one of the countries known to have rising popularity in the modern business world. The Marshall Islands is located in the central Pacific Ocean, just north of the equator. It is a part of the Micronesian Islands and is made up of 29 atolls and 5 islands. It enjoys free association with the United States of America by virtue of the Compact of Free Association (COFA).

Equipped with the latest and modern telecommunication system and computerization of its public and private sectors, Marshall Islands is ideal for international companies which desire to expand their business overseas. Marshall Islands is also known for its zero tax jurisdiction and for this reason, non-resident corporations enjoy exemption from taxation on their income and assets -- a feature most advantageous to every business person.

An entrepreneur desirous of starting a company in the Marshall Islands has to be familiar with the country's incorporation process, although he does not have to worry about having to remember a lot of intricate details. Marshall Islands Incorporation is relatively easy ...
... as long as you meet its minimum requirements.

The Business Corporations Act of the Marshall Islands Revised Code of 2004 is the governing law for corporations in Marshall Islands. Below is a summary of the minimum requirements for Marshall Islands Incorporation:

1. Corporate Name. The corporate name must first be approved by the Registrar of Corporations before it can be legally used.

2. Authorized and Issued Share Capital. In shares without par value, the standard authorized share capital is 500 shares and a capital with a declared par value, the authorized share capital is up to US$50,000.

3. Types of Shares Permitted. The shares that a corporation may issue are registered shares, preference shares, redeemable shares, shares with or without par value and shares with or without voting rights.

4. License Fees. Every company is required to pay a maintenance fee.
5. Financial Statement Requirements. Although financial statements are not required to be filed, it is advisable to keep financial records in order to secure easy assessment and identification of a company's financial status.

6. Directors. A minimum of one director is required and there is no limit for the number of additional directors. The directors may either be local or foreign or a combination of both.

7. Company Secretary. The secretary may either be a foreigner or a local.

8. Shareholders. A minimum of only one shareholder is required.

Marshall Islands Incorporation is one ideal place to start a business with guaranteed financial returns. Upon meeting the minimum requirements enumerated above, every business person can now proceed to have his corporation registered. There are available independent firms that offer professional assistance to any entrepreneur interested in starting a business in the Marshall Islands.

Author Bio:
Rikvin has been assisting clients from all over the globe who want to form a Marshall Island Company. Our success rate is phenomenal, and all most all of our enterprise clients have entrusted us, with the routine management tasks such as book keeping and secretarial services and we continue to impress them beyond our promise. Rikvin has successfully helped foreign entrepreneurs register a Marshall Island Company.

Our phones are answered during business hours by specialists and not by an answering machine. We appreciate the value of your time and understand that a person cannot be replaced by technology. This is especially true when it comes to making important business decisions. If you are interested in learning more about Rikvin's Services kindly email us at info@rikvin.com or give us a call at +65 64838887.