|
  | English
|
|
|
Forming Companies
Parking Services
Other Service
|
|
|
Hong Kong (HK)
 (852) 8102 2592
Beijing
(86 10) 5869 6579
Shanghai
(86 21) 5836 2605
 info@AsiaBS.com |
|
|
|
|
|
| Forming Companies | > | Offshore | > | Marshall Islands Companies |
|
About Marshall Islands in General
|
Location:
The Marshall Islands are located nearly midway between Indonesia and Hawaii. They are the easternmost island group in Micronesia and cover approximately 2 million square km's in the Central Pacific Ocean. It has a population of around 500,000 living mostly in Majuro.
Official Language : Marshallese, English
Legal System : Common Law
Currency : United States Dollar (USD)
Time Zone : GMT +12
Economy :
The Marshall Islands only recently began to be viewed as a tourist destination. For environmental reasons, controlled tourism is the watchword, whether on Majuro or on the outer atolls, the lagoons and the ocean offer snorkelling, scuba diving, sport-fishing and sailing.
|
|
Restriction in Marshall Islands Companies
|
|
A Non-Resident company cannot carry on business within the Marshall Islands and cannot undertake the business of banking, insurance, assurance, reinsurance, fund management, asset management or any other activity that would suggest an association with the banking and insurance industries.
The following are not construed as carrying on any business in the Marshall Islands £º
- Maintaining a bank account.
- Using the services of a professional firm.
- Maintaining accounting records.
- Holding meetings of shareholders and directors.
- Holding a lease of property for use as an office.
- Holding shares or other securities in another Marshall Islands company.
- The memorandum of association must contain the name and address of the Marshall Islands registered agent.
|
|
Advantages of Marshall Islands Companies
|
- No taxation of corporate income in the Marshall Islands and No filing of annual returns is required;
- Only one shareholder and director is required.
- Corporate shareholder and director is allowed.
- Minimum issued share capital is either one share of no par value or one share of par value.
- Minimum paid up share capital required is US$1.
- No mandatory requirement in preparing financial statements or appointing auditors.
|
- Minimum 1 shareholder and 1 director.
- Minimum US$1 issued and allotted share capital.
- Registered address in the offshore country (included in package service and in annual renewal fee).
|
|
Client can make a selection between
"Tailor made company" and "Ready made company".
|
Day 1 |
Client should pass following information to AsiaBS:
- Passport / ID copy and address of at least 1shareholder and 1 director.
- At least 3 intended company names in order of preference for company name search.
- 50% fee as downpayment.
There are 2 possible ways for client to send us information :
| Method : |
- Incorporation Online
- Directly send us an Email : <info@AsiaBS.com> with following information :
Preferred
company names |
• only English name or |
| • English & Chinese name together for your company. |
Shareholder |
| • Surname |
| • Given name |
| • Passport Number |
| • Nationality |
| • Residential Address |
| • % of shareholding of each shareholder |
|
Director |
| • Surname |
| • Given name |
| • Passport Number |
| • Nationality |
| • Residential Address |
|
| Bank Account Operator : Who will be bank account authorized signatory, and whether signing singly or jointly. |
Above should be same as showing in passport.
Please send passport copy to us by email / fax - to ensure the info is correct. Thanks.
|
|
| Day 2 |
- AsiaBS confirm to client whether the names can be used.
- AsiaBS send documents to client for signature by email.
- Client should return the signed documents back to AsiaBS for processing. Usually, sending by fax is sufficient.
|
| Day 6 |
- Copy of Certificate of Incorporation will be available to client to confirm that the company is properly formed;
- Client need to settle all service balance payment.
When Certificate of Incorporation is available to client, the company is certified to be established and client can use the company to enter into business transaction.
|
| Day 10 |
- Whole set of company kit and processed documents will be available to client.
|
|
Important Note
- Time required is stated in terms of working days, not calendar days.
|
|
Material available to client after company is formed:
- Company kit - signature chop, stainless steel seal, printed M&A etc.
- Certificate of Incorporation
- Copies of shareholders, directors etc registration documents.
If client is unable to collect the original documents in our office. We can arrange to forward the documents to client by courier. Please provide mailing address for courier fee quotation.
AsiaBS will remind client to renew the company licence each year. Therefore, keeping corresponding method update with us is important.
|
Day 1 |
- Client to choose preferred companies from ready made company list
- Client should pass following information to AsiaBS for document preparation:
- Passport / ID copy and address of at least 1shareholder and 1 director.
- At least 3 intended company names in order of preference.
- 50% fee as downpayment.
- Once payment is received by AsiaBS, a copy of Certificate of Incorporation will be available to client to confirm ownership of the company;
- AsiaBS will send documents to client for signature.
- Client should pass the signed documents back to AsiaBS for processing. Usually, sending by fax is sufficient.
When Certificate of Incorporation is available to client, client can use the company to enter into business transaction, even though some registration process need to handle in following days.
There are 2 possible ways for client to send us information :
| Method : |
- Incorporation Online
- Directly send us an Email : <info@AsiaBS.com> with following information :
Preferred
company names |
• only English name or |
| • English & Chinese name together for your company. |
Shareholder |
| • Surname |
| • Given name |
| • Passport Number |
| • Nationality |
| • Residential Address |
| • % of shareholding of each shareholder |
|
Director |
| • Surname |
| • Given name |
| • Passport Number |
| • Nationality |
| • Residential Address |
|
| Bank Account Operator : Who will be bank account authorized signatory, and whether signing singly or jointly. |
Above should be same as showing in passport.
Please send passport copy to us by email / fax - to ensure the info is correct. Thanks.
|
|
| Day 2 |
- Client should settle remaining service fees.
- AsiaBS will pass processed documents and company kit back to client after remaining balance payment settled.
|
|
Material available to client after company is formed:
- Company kit - signature chop, stainless steel seal, printed M&A etc.
- Certificate of Incorporation
- Copies of shareholders, directors etc registration documents.
If client is unable to collect the original documents in our office. We can arrange to forward the documents to client by courier. Please provide mailing address for courier fee quotation.
AsiaBS will remind client to renew the company licence each year. Therefore, keeping corresponding method update with us is important.
|
|
Generally, the only duty is to maintain annual licence renewal in Marshall Islands.
| Annual license renewal fee is US$600. |
We'll send reminder to our client to help renewal.
- Company registered between 1/1 ¨C 30/6
> Annual license renewal due by 30/4 each year.
- Company registered between 1/7 ¨C 31/12
> Annual license renewal due by 31/10 each year.
Possible late renewal payment penalty:
- Within 2 months of renewal date = US$600 + 10%
- Over 2 months of renewal date = US$600 + 50%
- Over 5 months, the company will be struck off from the registration.
As long as the Marshall Islands company is not carrying on business in Hong Kong, there is no duty of reporting or registration to Hong Kong government departments.
|
| General |
| Type of Company : |
IBC |
| Political Stability: |
Excellent |
| Common or Civil Law: |
Common |
| Disclosure of Beneficial Owner: |
No |
| Migration of Domicile Permitted: |
Yes |
| Corporate taxation: |
None |
| Corporate Requirements |
| Minimum Number of Shareholders: |
1 |
| Minimum Number of Directors: |
1 |
| Corporate Directors permitted: |
Yes |
| Company Secretary required: |
Yes |
| Usual authorised Capital: |
US$ 50,000 |
| Local Requirements |
| Registered Office/Agent : |
Yes |
| Local Directors: |
No |
| Local Meetings: |
No |
| Government Register of Directors: |
No |
| Government Register of Shareholders: |
No |
| Annual Requirements |
| Annual Return: |
No |
| Submit Accounts: |
No |
| Recurring Government Costs |
| Minimum Annual Tax/Licence Fee |
N/A |
| Annual Return Filing Fee : |
N/A |
|
|
TEXT ONLY SECTION
AsiaBS - Asia Business Service Limited
Professional qualified accountants - ACCA, HKICPAin Hong Kong ( HK ), China, BVI and Offshoreproviding services of
Company Formation (Form Company), Incorporation, Business startup for Limited and Unlimited Company, Sole Proprietor, Partnership, Wholly Foreign Owned Enterprise, WFOE, Joint Venture, JV, Representative Office, ROBank account opening - in Hong Kong - HSBC, Hang Seng Bank etc,Company secretary, Nominee shareholder, director, Annual maintenance, Accounting, Auditing, Taxation, Tax filing, Tax planning
|
|
