Overview of Location
Nowadays Republic of Marshall Islands (RMI) gains more popularity for international business setup and tax planning purposes for at least two major reasons. Firstly, a Marshall Islands IBC company can be formed as a non-resident company in RMI to seize all benefits offered for offshore companies. Another one is a new, modern, and tech-based solution called Marshall Islands DAO LLC (Limited Liability Company). Hereby, we offer to discover some features of both legal structures.
Classical non-domestic IBC Limited companies are an ideal offshore solution offering no taxation on corporate income. This makes it the perfect location for trade on goods or services business as well as for the setup of a holding or investment company within the country. Further to it, non-resident IBC companies can enjoy low incorporation and operational requirements such as at least one shareholder and director, no requirements for local residency, extended privacy for persons engaged in the Marshall Islands Limited company, no paid-up capital requirements, and no need to submit financial statements, audits or tax returns. This sounds like a truly great jurisdiction for tax planning and maintenance purposes.
On another note, from Autumn 2022, RMI has started to offer so-called DAO LLC in Marshall Islands as a separate type of legal structure to keep pace with modern blockchain technologies and the influence of the virtual currencies (cryptos) on the global financial and trade markets. Briefly speaking, RMI DAO LLC companies are called to become a form of legal representation for DAOs, or decentralized autonomous organizations, as an entity having no central control. These are introduced to remove impediments for DAOs when facing the necessity to interact with the world outside the blockchain-based system. Another key point is to set up limited liability for members of such DAO. Previously, there were cases when DAOs were considered as general partnerships making members fully liable for the liabilities of such legal structure.
Marshall Islands legislation introduces 2 main types of RMI DAO LLCs which are designed for non-profit and profit purposes. While the first one is totally exempt from taxation as not aimed to distribute profits among members, the second type will be obliged to pay a 3% Gross Revenue Tax (GRT). The applicability of this entity may vary broadly: from any Web3 project to different DAOs (like Protocol DAOs, Service DAOs, and Investment DAOs), or in Digital assets.
Should you be looking for the Marshall Islands Limited Company, you are in the right place. Our team would be pleased to guide you through ordinary IBCs and newly introduced DAO LLCs which will be tailored to meet your specific requirements. Get in touch with Corpheroes to discover more about the company formation services in the Marshall Islands.
Required Documents
List of files necessary for setup.
- Certified copy of passport;
- Certified copy of proof of address;
- Curriculum Vitae.
- All documents have to be in English.
Features and Benefits
Peculiarities associated exactly with this jurisdiction.
- Annual maintenance of company: renewal of registered address, secretary, and state fees;
- Assisting with filing annual tax returns (for RMI DAO LLCs);
- Legal opinion;
- Apostilled documents;
- Corporate account for local companies;
- Maintenance and annual review of the UBO register.
Formation package includes:
- Our genuine daily support;
- Name availability check and reservation;
- Completely ready-to-use company;
- Full set of corporate documents;
Formation Steps
Define your business activities and choose a name that suits your brand.
Name check and reservation. Preparation of the KYC (Know-Your-Customers) and other due diligence files.
Registering an entity with the local registry. Acquisition of the corporate files.
Corporate accounts opening.
Need more details?
Inquire now to get all information about this jurisdiction.
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