RMI Non-Resident Domestic Corporation Requirements
The Trust Company of the Marshall Islands, Inc. (TCMI, is the only Registered Agent for Non-Resident Domestic Marshall Islands Corporations.
The Marshall Islands Business Corporations Act (BCA) contains provisions which provide for basic confidentiality. However, TCMI will conduct a detailed background check on all proposed directors, shareholders and
company officers before each incorporation as an internal compliance measure which is maintained by TCMI with full
The BCA is modeled on the corporate laws of Delaware and New York, Marshall Islands corporate program has been hugely
supported by the investment banks and securities institutions for public offerings in USA. Currently, there are 30 and 15 Marshall Islands business entities publicly trading in New York Stock Exchange and Nasdaq respectively. One Marshall Islands business entity is also listed in London Stock Exchange.
|Type of Entity||Corporation|
|Common or Civil Law||Common|
|Migration of Domicile Permitted||Yes|
|Tax on Offshore Profits||No|
|Language of Name||Roman Character,
|Minimum Number of Shareholders||One|
|Minimum Number of Directors||One|
|Bearer Shares Allowed||Yes|
|Corporate Directors Permitted||Yes|
|Corporate Secretary Permitted||Yes|
|Government Register of Directors||No|
|Government Register of Shareholders||No|
|ANNUAL FILING REQUIREMENTS|
|Submit Audited Accounts||No|
|RECURRING GOVERNMENT COSTS|
|Standard Annual Maintenance Fee||$450 USD|
Allowed Suffixes to Denote Limited Liability of Corporation
Limited, Corporation, Incorporated, Public Limited Company, Société Anonyme, Société Anonyme à Responsabilité Limitée,
Sociedad Anónima, Berhad, Proprietary, Naamloze Vennootschap, Besloten Vennootschap, Aktiengesellschaft or
the relevant abbreviations.
Share Structure of a RMI Non-Resident Domestic Corporation
The authorized share capital of a standard formation is 500 registered shares of no par value OR up to USD50,000 worth of par value stock. The minimum issued share capital is one share of par value.
Shares Permitted in a RMI Non-Resident Domestic Corporation
Registered, fractional, preference, redeemable shares and shares with or without voting rights are all permitted.
Maintenance of a RMI Non-Resident Domestic Corporation
Audited financial statements are not required to be filed with the Registry. Register of director and register of members are only required to be kept internally. They are not required to be submitted to the registered agent at all.
Corporate Structure of a RMI Non-Resident Domestic Corporation
There needs to be a minimum of One Director, A Company Secretary and a Shareholder. One natural person or corporate entity is allowed, and one person can be the Director, Shareholder and Secretary.
The Marshall Islands also permits corporate redomiciliation into the Marshall Islands at no cost. Not only is the filing fee waived, but the first year’s annual fee is also waived. This means that each entity redomiciled into the RMI pays nothing for the first year.
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