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Marshall Islands
The Marshall Islands is an independent, democratic country located in the Pacific Ocean. It consists of numerous small islands and islets with the total area of 181 km2.
Despite its troubled history, presently the country’s political and economic situation is stable, due to, among other things, the Compact of Free Association concluded in 1979 with the USA (the agreement came into effect in 1986), which guarantees the Islands annual inflow of cash.
The name of the country comes from the name of British captain John Marshall who sailed to the islands in 1788. Even though the islands were discovered earlier, for many years they did not attract Wester powers’ attention.
The Marshall Islands is an ideal place for doing business, as the law of the small country was modelled on the laws of the American state of Delaware, which is considered one of the best solutions in the world. Marshall Islands legislation also draws from British common law. In a nutshell, company owners in the Marshall Islands do not pay any taxes and retain full anonymity, and what is more, establishing a company is child’s play and takes one day. It should be stressed that the Marshall Islands is one of the safest places for doing business, where information on shareholders and directors is guaranteed not to appear in any business registers or other documents owned by state administration. This is also one of the few places in the world where it is still possible to issue registered shares in their purest form – i.e. without the need to keep any registers.
Apart from the Marshallese, the official language is English and it is in this language that all company documents are prepared. The official currency in the Marshall Islands is the United States dollar (USD).
The legal system of the Marshall Islands was regulated by the Marshall Islands Revised Code of 1988, as amended, and company law is governed by the following acts: The Associations Law of the Marshall Islands comprising the Business Corporations Act 1990, the Partnership Act 1990 and the Limited Liability Company Act 1996.
The most popular type of company is the non-resident domestic corporation, the functioning of which is regulated by the Business Corporations Act 1990. Trade law in Marshall Islands is modelled on the law of the American state of Delaware which is one of the most business-friendly systems in the world. The country also draws on British common law practices.
Each company registered over here has to have a licensed representative for the Marshall Islands and a registered office in the territory of the country – our company will take care of both of these issues.
The minimum share capital of a non-resident domestic corporation is one share with no par value or one share with par value, yet the most common practice is establishing companies with 50 no-par value shares issued or capital with par value of up to 50 000 USD. Non-resident domestic corporations may issue bearer shares where not only is the holder of the shares not named in the wording of the document but there is also no obligation to disclose the share register to any public administration bodies. Additionally, companies may issue registered shares, shares with and without voting rights, preference shares, redeemable shares, shares with and without par value. Share capital may be paid in any currency.
All you need to set up a company in the Marshall Islands is one director and one shareholder, who may be the same person (physical or legal). There are no restrictions with regard to non-residents. The company has to have a secretary, who may also be either a physical or a legal person and there are also no restrictions with regard to non-residents. Information on directors, shareholders and secretaries do not appear in the business register and are not made public, which guarantees a high level of confidentiality.
Every company has to have a name which cannot be the same as the name of an existing company. Company name may be in any language and may end with words such as: Corporation, Incorporated, Limited, Gesellschaft mit beshrakter Haftung, Sociated Anonima, etc. The following words are forbidden: bank, trust, fundation, partnership, insurance, chartered, establishment.
Non-resident domestic corporations are not allowed to conduct business operations in the territory of the Marshall Islands or carry out activities of banks, insurance companies or trusts.
Non-resident domestic corporations are completely exempt from tax, including income tax, dividend tax, capital gains tax, inheritance tax and donations tax as well as stamp duties. There is an annual licence fee of 150 USD. There is no obligation to submit annual financial reports either. Accounting is obligatory, but only on a basic level, to demonstrate the validity of transactions, and is not subject to audit.
US government aid constitutes half of the economy of the Marshall Islands. Every year, the budget of the islands gets a boost in the amount of approximately 65 million USD through this.
A significant impact on the economy has agriculture, concentrated in small farms with mainly breadfruit trees, coconut palms, melons and tomatoes.
The fastest developing economy sector is currently tourism, where 10% of the society is employed today.
The Marshall Islands is an independent country associated with the United States, what guarantees high level of political and economic stability of the small island country. The Compact of Free Association between the countries was signed in 1979 and came into effect in 1986.
The Marshall Islands is a parliamentary democracy, where the president is both the head of state and the head of the government. The President is elected by the parliament consisting of 33 people, every 4 years, and after the elections appoints the Cabinet.
As the official currency in the islands is USD, there is no central monetary policy and no restrictions with regard to transfers in and out of the country.
The following banks are present in the Marshall Islands: Bank of Marshall Islands, Wadiach Capital LTD, Bank of Hawaii, Bank of Guam, Asian Development Bank.
All companies are equal before the law.
A good formation agent is what makes a difference.
Welcome message
ShelfCompanies24.com is one of the leading providers of ready made companies and special purpose vehicles (SPVs) as well as other investment structures delivering outstanding service at very reasonable prices and at highest speed. We have setup and sold hundreds of companies. Our company is considered trustworthy and reliable by our clients as well as by many professional law firms and tax advisers.
What is very unique in our style of operation is the fact that we have our ready made companies already registered in many various countries. All other providers have one address where they keep their shelf companies registered so that client wishing to buy more than one company with different address cannot be satisfied.
Many competitors may be offering lower prices however this always is at the expense of service and provided company quality. Our core activity is company formation and sale of ready made companies thus all members of our team have appropriate professional background. Our shelf companies are formed in accordance to all relevant laws and procedures by the team of qualified and experience professionals and lawyers. On the other hand the maintenance of our ready made companies is performed by licensed and proficient accountants and tax advisers. Therefore our clients can be sure that a shelf company they buy from us is clean, with no debts or tax issues, is formed professionally and its Articles of Association are of high quality.
Our main clients are private investors, traders, law, audit, accountancy and tax advisory firms as well as banks and investment funds. Throughout the years of activity Shelfcompanies24 has been enjoying the reputation of the fastest and most responsive shelf company provider.
Our ready made companies have been formed and maintained by our team. Therefore we always guarantee their quality and that they are debt free, with no trading history and consequently riskless to build new ventures on.
Our services do not finish on the sale of shelf companies or company formation. We provide also many other related and necessary services so that we can be treated as a one stop shop in a business setup in many countries. We are also experts in tailor made company formation as well as compliance and registering various changes within the company like director appointments and dismissals, company name change, share capital increase or decrease, company address change and many other issues.
We also provide tax and legal advisory services that are inevitably required by the businesses. We cooperate with many reputable tax and legal advisory firms whose services we can also recommend when the nature of the problem requires certain field specialist engagement.
For those clients who have a need to present their companies documents in foreign countries we provide apostille and translation services. After company sale documents can simply stay with us for the purpose of their apostille or legalisation and sworn translation to any desired language. This service is mainly required when there is a need to open a foreign bank account for a shelf company.
Furthermore we have agreements with many different accounting offices so that we are able to offer a wide choice of the particular accountant that will be dealing with client’s company. Also in case two or more of our clients are trading partners we can ensure that their books will be handled by separate and independent accountants.
Ultimately we can also support with a procedure of liquidation/bankruptcy of a company if a client wishes to withdraw their business presence. In this case we can either manage the process of liquidation or bankruptcy on client’s behalf or simply just dispose the assets and takeover the company so that the clients can enjoy fast exit.
Testimonials
The company delivered a ready-to-go business, with VAT and EU VAT registration. Paperwork and the whole re-registration process was handled efficiently. I recommend this to anyone looking for a no-hassle company acquisition.
Company name of your choice? Check. Accounting services? Check. Help with tax authorities? Check. Finding a translator? Check. What can I say, these people are great and can help you with just anything.
We needed to start building our presence in Poland fast, and a ready-made company seemed like the best option. We got presented with several location choices, picked the company name, signed some paperwork and were good to go. We got a company that was VAT-registered, with multiple bank accounts, just as we wanted.
Thank you for all the help. Your after-sale support is what sets you apart from the competition. It was important for me to get comprehensive company services at one place, with accounting, banking, tax issues handled for me, etc. I got everything I needed.
I really recommend this website if you are looking for a shelf company in Poland. The companies are already registered, with no history and all documentation in place. This is really a great solution if you want to start your business ASAP. And the range of available post-sale services is just amazing.
Thank you for your support! Your advice was invaluable. Polish tax and legal provisions can really be a pain in the neck, but with your help I am able to get going.
Not only did we need a new company, but also someone to take care of our accounting and compliance. Now, we must say ShelfCompanies24 helped us to transition smoothly into the Polish market. Good work, guys!
The company indeed delivers what it promises. I was able to start business in less than no time, with all the formalities taken care of by a super nice team of people. This is a good stop if you want a ready-made company operating in Poland.
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Our Team
Tomasz Bielski
Managing
Director
Tomasz has graduated from Warsaw School of Economics. His specialization was Finance. Tom supervises the whole business activity of ShelfCompanies24.com and manages all company’s affairs.
Anna Modlinska
Company Formation Specialist
Anna has graduated from Cracow University of Economics as well as Lazarski School of Law. At ShelfCompanies24.com Anna is responsible for company formation, shelf companies, foreign bank accounts and customer service.
Piotr Walter
In-house
lawyer
Piotr is a graduate of Law Faculty at University of Gdańsk. He is also an attorney. At ShelfCompanies24.com Piotr takes care of compliance, company registry issues and company formation.
Aleksandra Kowalska
Corporate Client
Service Specialist
Aleksandra has completed a master degree in law at Kozminski University in Warsaw. At ShelfCompanies24.com Aleksandra is responsible for customer service, logistics as well as relationships with the banks.
Julia Thompson
Corporate Client
Service Specialist
Julia is a graduate of Faculty of Law and Administration at Jagielonian University in Cracow and College of Law at Florida State University. At ShelfCompanies24.com Julia is responsible for company formation in various countries and taxation issues.
