How to Open a company in Marshall Islands Complete Guide 

• Open a company in the Marshall Islands, which is known to provide favorable regulations, a strategic location by the Pacific Ocean, and developing market potential. In January 2024, this small island nation will host a population of approximately 42,200 with an urbanization rate of 79% with a high concentration in development. According to projections, by 2024, the economic growth in the Marshall Islands is forecasted to be at a slight 5%, among other growth potentials.  

• International trade plays an important role in its economy; the total trade of goods and services between the UK and the Marshall Islands is £214 million for the four quarters leading up to Q2 2024. For businesspersons and investors, to register company in Marshall Islands provides advantages through an easy process of company formation, minimal restrictions on foreign ownership, and a solid legal framework. This makes the Marshall Islands an ideal jurisdiction for businesses looking to expand their global reach. 

Steps to open a company in Marshall Islands 

Step 1: Select an appropriate company structure 

• As stated earlier, the foundation for a successful incorporation process will be selecting the appropriate company structure to open a company in the Marshall Islands. Our team of experienced consultants will work closely with you to understand your business goals, operational needs, and target market.  

• From this analysis, we would suggest the best form for incorporation, would an LLC, International Business Company (IBC), or some other structure tailored to your needs. Additionally, prior to the actual incorporation process, we would guide you on optimum paid-up share capital and legislative requirements with the view to ensure all compliance obligation in place so your business has the right set-up to stand the test of time. 

Step 2: Reservation of company name 

• The second step in incorporating a company in the Marshall Islands is to reserve a unique and legally compliant company name. Tetra Consultants will carry out an exhaustive name availability search with the Marshall Islands Registrar of Companies to ensure your desired name is not already in use. Once confirmed, we will reserve the name and carry out all the formalities to set up your business identity. Our team ensures that the process is smooth and compliant with regulatory standards. 

• Additionally, we also provide international trademark registration services to globally protect the clients’ brand name. 

Step 3: Preparation of corporate documents 

• To effectively register a company in the Marshall Islands, proper and complete documentation should be prepared. Our team is here to help you prepare and submit all needed corporate documents, which include: 

• Directors/Shareholders details. 

• A certified true copy of Passports. 

• Proof of residential address for directors and Shareholders. 

• Bank reference letter and CV for due diligence checks. 

• Although the Marshall Islands does not require residency of directors, we can ensure greater privacy for your structure by providing nominee director services. We also include a registered local office address in the Marshall Islands and will store your corporate records, official documents, and forward correspondence here. 

• We will prepare the required corporate documents, including Articles of Association, Memorandum of Association, and a business plan that is customized for the specific needs of your business. Such documents will contain the fundamental information about the company, its governance structure, share capital, and the scope of your business activities, to ensure compliance with Marshall Islands laws and regulations. 

Step 4: Submission of documents to be registered 

• Upon completing all corporate documents, Tetra Consultants shall deliver all such documents to the Registrar of Companies of Marshall Islands so as to complete the incorporation registration for your business entity. In case the company’s incorporation has been completed successfully, then all your business-related documents like a copy of Certificate of Incorporation, Articles of Association, Memorandum of Association and other incorporation-related supporting documents shall be sent over through courier at the delivery address designated by you. 

Step 5: Corporate bank account opening 

• Tetra Consultants will help you with corporate bank account opening once your company registration in the Marshall Islands is done. Our strong relationship with reputable international and local banks allows us to present your business to the relationship managers and compliance teams. 

• Generally, opening a bank account takes four weeks, though most directors and shareholders rarely need to travel. Our team will accompany you into bank meetings or negotiate alternatives such as virtual meetings and waivers if a physical presence is necessary. After the account opens, we will courier the documents, internet banking tokens, and the access codes securely to your location. 

Step 6: Post-incorporation compliance 

• Once the business is successfully opened in Marshall Islands, Tetra Consultants shall continue to provide assistance in order to ensure that the company stays compliant with the country and international regulations. Services for accounting and tax matters are provided, along with keeping corporate records and facilitating applications for a Tax Identification Number with the local tax authorities. 

• Our team will guide you on fulfilling any annual compliance requirements, managing reporting obligations, and keeping up with regulatory changes that may affect your operations. We help you ensure continuous compliance so you can focus on growing your business with peace of mind. 

Conclusion 

• Open a company in the Marshall Islands with Tetra Consultants and ensure that all of the incorporation processes for your business are smooth and efficient. Our team will be dealing with everything, from structure choice and document preparation to post-incorporation compliance and setting up a bank account. Transparency and professionalism characterize our commitment to giving ongoing support to ensure your business stays compliant and operational. Partner with Tetra Consultants and expand further with absolute confidence in this friendly jurisdiction. 

• Contact us to know more about how to open a company in Marshall Islands and our team will revert back in 24 hours.