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- Summary of Features of Marshall Islands Company
2023-07-03Summary of Features of Marshall Islands Company
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General Information |
|
|
Company Law |
Business Corporations Act 1990 |
|
Type of Company |
International Business Company (IBC) |
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Legislative Language |
English and Marshallese |
|
Corporate Taxation |
No |
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Taxation of Foreign Profits |
Nil |
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Exchange Controls |
None |
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Shelf Companies Available |
Not available |
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Corporate Names |
|
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Language |
Any language using the Latin alphabet |
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Name Restrictions |
Names identical or similar, offensive words are not allowed |
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Name Endings Required |
Limited, Company, Incorporated, Corporation, or its abbreviations |
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Verify Name Availability |
One day for check |
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Reservation of Names Permitted |
No |
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Requirements of Capital and Shareholders |
|
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Minimum Number of Shareholders |
One |
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Local Shareholders Required |
No |
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Corporate Shareholders Permitted |
Yes |
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Disclosure of Shareholders information |
No |
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Minimum Paid-up Capital |
USD1 |
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Standard Authorized Capital |
USD50,000 |
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Bearer Shares Permitted |
Yes |
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No Par Value Shares Permitted |
Yes |
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Increase or Reduction of shares capital |
Yes |
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Requirements of Directors |
|
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Minimum Number of Directors |
One |
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Local Directors Required |
No |
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Corporate Directors Permitted |
Yes |
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Disclosure of Directors information |
No |
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Meetings |
|
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Annual General Meeting of Shareholders |
No |
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Location of Members Meeting |
Anywhere |
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Annual General Meeting of Directors |
No |
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Location of Directors Meeting |
Anywhere |
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Quorum required for purposes of meetings |
Depend on Memorandum and Articles of Association |
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Local Requirements |
|
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Local Registered Agent Required |
Yes |
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Local Registered Office Required |
Yes |
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Local Company Secretary Required |
No |
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Register of Member |
Shall be kept at the registered office |
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Register of Directors |
Shall be kept at the registered office |
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Register of Secretaries |
Shall be kept at the registered office |
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Company Seal |
Required |
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Annual Renewal |
|
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Filing Annual Returns |
No |
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Prepare Annual Audited Accounts |
No |
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Annual Renewal Fee Due Date |
One month before Anniversary date |
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Other Relevant Information |
|
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Re-domiciliation Permitted |
Yes |
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Reinstatement from Registry |
Yes |
|
Company Liquation |
Compulsory or voluntary winding up and dissolution; and strike-off by non-payment |
Disclaimer
All information in this article is only for the purpose of information sharing, instead of professional suggestion. Kaizen will not assume any responsibility for loss or damage.
WhatsApp/Line/Wechat: +852 5616 4140
All information in this article is only for the purpose of information sharing, instead of professional suggestion. Kaizen will not assume any responsibility for loss or damage.
WhatsApp/Line/Wechat: +852 5616 4140
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