Marshall Islands Company Formation

The Marshall Islands is an independent island republic in the Pacific Ocean. The country has one of the largest ship registers in the world as well as a company register widely used internationally.

Its company legislation is largely modelled on Delaware corporate law. The company register is operated through International Registries, Inc. (IRI), which also administers the ship register — so company and vessel records can be handled under one roof.

General Information

• Location: Central Pacific — capital Majuro
• Company types: Non-resident Corporation and Limited Liability Company (LLC)
• Legal system: legislation modelled on Delaware corporate law
• Registry administration: International Registries, Inc. (IRI)
• Official languages: Marshallese and English
• Currency: US Dollar

Key Features

• Non-resident companies that do no business in the islands are exempt from corporate, income and withholding taxes.
• A single shareholder and a single director are enough, and they may be individuals or companies of any nationality.
• There is no minimum capital requirement.
• It is the natural company structure for yachts registered under the Marshall Islands flag; many of the world's ship-owning companies are incorporated there.

Who Is It For?

• Owners who want to register their yacht under the Marshall Islands flag.
• Those looking for a simple and predictable company structure from a tax perspective.
• Owners who prefer a jurisdiction internationally recognised in ship and yacht ownership.