Marshall Islands
The Marshall Islands is one of the most popular and acceptable jurisdictions for the creation and development of a young business. The country maintains high confidentiality – a closed register of shareholders and directors.
Particularly popular are the International Business Company (IBC – International Business Company), in the names of which there is a suffix “LTD” or “Limited”. In their organizational and legal form, they resemble traditional Limited Liability Companies. Such companies have a simple and understandable structure.
IBC type companies cannot have a local office in the islands. As a rule, it is enough for them to have a registered address that functions as a legal one. A full-fledged office is allowed to have only local enterprises that operate in the Marshall Islands and at the same time pay all taxes provided for by the tax legislation.
The registry of companies in the Marshall Islands is closed, and the name of the beneficiary is not entered into it. Only the registered office of the company and the name of the agent who registered it are public.
Also, companies that operate outside the Republic of the Marshall Islands are completely exempt from taxes, including taxes on dividends, value added, royalties, capital gains, etc. But at the same time, they are not allowed to own real estate in the country or conduct transactions with citizens of the Marshall Islands. There is no currency regulation here and companies are not required to submit annual financial statements.
Advantages:
–There are no special requirements for financial reporting, however, to reflect the financial position of the company, it is necessary to maintain appropriate documentation.
–The government provides a high level of privacy for offshore companies.
–In accordance with the law, offshore companies can be organized in the style of American or English companies.
–The Marshall Islands offer one of the most advanced offshore corporate programs.