Marshall islands offshore guide


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Marshall Islands is a zero tax jurisdiction where non-resident corporations are not taxed on income and assets. A Marshall Islands Offshore Incorporation is simple and efficient.

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Marshall islands offshore guide

  2. 2. OVERVIEW Marshall Islands comprises 29 atolls and 5 islands situated in the Pacific Ocean. It is an a rac ve business and financial centre for interna onal companies and especially popular among mari me companies. Marshall Islands IBC is a tax-free corpora on designed for engagement into all forms of interna onal business, with no repor ng and record-keeping requirements and with comprehensive confiden ality features. Rikvin can assist in the opening of corporate bank account with interna onally recognised banks such as HSBC, Standard Chartered, Ci bank, Ci c Interna onal, DBS bank and Loyal bank. Marshall Islands: (Subject to bank due diligences and policies) • All Income is tax exempted • No Personal or Corporate tax • No capital gains or withholding tax You can also establish a brokerage account with • No annual repor ng or audi ng Saxo Capital Markets in Singapore. With Saxo, is required • Company can be incorporated you can trade over 160 currency in the OTC FOREX in a day market, and over 13,000 stocks from 24 major exchanges around the world including US, Canada (and TSX-V), London and Singapore. For more informa on: h p:// Island Company Registra on Copyright © 2011 Rikvin Pte Ltd
  3. 3. CHECKLIST FOR MARSHALL ISLANDS OFFSHORE COMPANY INCORPORATIONOnce you have decided to incorporate a Marshall Islands offshore company, the following details will helpyou understand the key requirements and the overall incorpora on process. Items Descrip on • The proposed company name of your Marshall Islands offshore Company Name Approval company can be in any language with Roman characters. • Company name ending can have any suffix. Directors • Minimum of one director (Can be individual or a corporate en ty of any na onality). No resident director is required. • Any number of addi onal directors can be appointed. • We also offer nominee director service at an addi onal fee. • A minimum of one shareholder is required. Shareholders • A director and shareholder can be the same or different person. • A shareholder can be an individual or corporate body. • There is no limit of number of shareholders • Company secretary can be an individual or corporate body. Company Secretary • The same director/shareholder can act as the company secretary. • We act as the company secretary for all offshore companies we incorporate. • Minimum paid-up capital: One share of par value in any currency. Paid-up Capital • Maximum Authorised Share Capital: Unlimited, but addi onal government fees apply for share capital over US $50,000 or 500 shares of no par value. Registered Address • We will provide you a registered address in the Marshall Islands at no cost. Documents Required for • Passport copies of proposed shareholders and directors. Incorpora on • Residen al address proof of proposed shareholders and directors. • Details of the parent company if the shareholder is a corporate en ty. • We will assist you with bank account opening for your offshore Bank Account Opening company in Singapore.Marshall Islands Company Forma on Copyright © 2011 Rikvin Pte Ltd
  4. 4. WHY CHOOSE MARSHALL ISLANDS IBC? Marshall Islands Company does not have the tainted “tax haven” reputa on that is associated with many others offshore jurisdic ons; Marshall Islands is refusing to co-opera ve with the OECD regarding customer informa on exchange, thus making this corporate jurisdic on a secure, long term solu on. A low cost corporate vehicle, that provides confiden ality and limited liability protec on; Snapshot of Marshall Islands Tax Planning - Offshore Tax A Marshall Islands Company forma on may be Type of Company IBC used to legi mately minimize tax by properly Poli cal Stability Excellent structuring financial and business affairs. Bri sh-based Legal System No Disclosure of Beneficial Owner No Professional Services Migra on of Domicile Permi ed Yes A person working overseas may be able to limit his Corporate Taxa on None tax burden by receiving, into the country in which Minimum Number of Shareholders 1 he is working, a fixed level of remunera on and Minimum Number of Directors 1 accumulate the balance in an offshore company. Corporate Directors Permi ed Yes Similarly, designers, authors, consultants and Company Secretary Required Yes entertainers may assign or contract with an Registered Office/Agent Yes offshore company the right to receive fees due Local Directors No under a contract for services. Local Mee ngs No Inheritance Planning Government Filing Register of Directors No People who travel the world and expatriates o en Government Filing Register of Shareholders No find that their connec ons with foreign countries Annual Return No create uncertain es and undesirable consequences Audited Accounts No for their wealth on their death.Marshall Islands Company Setup Copyright © 2011 Rikvin Pte Ltd
  5. 5. The transfer of wealth to an offshore company the forma on of interna onal companies with (again, there are no MI trusts) can avoid these no tax or repor ng responsibili es. This means difficul es, the wealth is protected in a stable you save money not only from zero corporate environment well away from the unwanted tax, but also from reduced compliance and other a en ons of the tax and inheritance laws of regulatory costs. foreign jurisdic ons. Asset Protec on Where a person is domiciled outside a territory High net worth individuals gain privacy and save and owns assets located in that territory (e.g., on professional fees by using offshore companies property), then such assets may be protected as Personal Holding Companies. These en es against inheritance tax and higher rates of may be suitable for inheritance planning and taxa on by holding the assets through an offshore reducing the costs and me delays in probate. investment company. You can protect your assets by se ng up an Confiden ality offshore company in combina on with a Trust. Offshore Companies can offer you complete Choosing the right country to incorporate an privacy. If the company shares are held by a Trust, offshore company can help you avoid unnecessary the ownership is legally vested in the trustee, and high taxes that would otherwise be payable thus gaining the poten al for even greater tax if the assets were held directly. It can also help planning advantages. protect assets from creditors, adverse claimants and other par es; or help you secure against Estate Planning future claims such as bankruptcy, judgment You can set up a Family and Protec ve Trusts creditors and other li gants. (possibly as an alterna ve to a Will) with an offshore company for accumula on of investment Investment Companies income and long-term benefits for beneficiaries The offshore company is inves ng in property, without high income, inheritance or capital gains stocks and shares, commodi es and other assets, taxes. while providing anonymity and tax savings. Conduct Business with Low or No Funds accumulated can be invested or deposited Corporate Taxes throughout the world, although the funds may Certain countries such as Marshall Island allow be subject to the tax regimes of the countriesMarshall Islands Company Incorpora on Copyright © 2011 Rikvin Pte Ltd
  6. 6. in which the investments are located. There are Employment Companies countries with tax free bonds or bank deposits Payroll costs and travel expenses may be reduced where interest is paid gross. by paying employees working overseas from your offshore base. This may also provide tax relief and Shipping Companies social security saving benefits for the employees. Ships or yachts may be owned by an offshore company and registered in an offshore jurisdic on IPO and Capital Raising which can prove a cheaper and more tax efficient Many large corpora ons in economically and method of ownership. poli cally uncertain countries o en diminish the percep on of risk by moving ownership of assets Overseas Property and the base of their opera ons offshore. Simplifica on of Transfer of Proper es Held in Several Countries If you own proper es in several Single Purpose Trustee different countries, you will understand that the Where the client creates his/her corporate trustee sale or probate of proper es can get complex and for a family trust, thereby ensuring more effec ve expensive. If an offshore company collec vely control during a client’s life me and saving on third holds these proper es tle, the ownership can party trustee fees. A Marshall Islands company can be transferred by company shares rather than serve as the corporate trustee of a trust formed transferring the actual proper es. in another jurisdic on. Many of the difficul es and expenses associated with investment in overseas property, such as holiday villas, may be avoided through the use of an offshore company to hold the tle of the property. Sales of the property at a future date can be dealt with quickly and easily by the sale of the company shares to the purchaser. This also Rikvin Pte Ltd saves legal fees and overseas transfer and value 20 Cecil Street #14-01 Equity Plaza added taxes levied by certain foreign countries. Singapore 049705 It can also be used to successfully avoid capital Tel: +65 6438 8887 Fax: +65 6438 2436 gains and inheritance taxes. info@rikvin.comMarshall Islands Company Registra on Copyright © 2011 Rikvin Pte Ltd
  7. 7. OPTIONAL VIRTUAL OFFICE SERVICESPres gious Office Address, Telephone Answering, Mail Only Business PremiumFax to Email ServicesRegistered AddressWe provide a pres gious address, which can be used forregistered business address for the registra on of your company.The address can be used on business cards, le erheads or anyother official documents.Mail No fica onWhenever the mail arrives, we provide an email no fica onsta ng details such as date, sender, type of mail, etc.Mail ForwardingIncoming mail (including courier items and small parcels) willbe forwarded based on your instruc on. All forwarding postagecosts will be charged accordingly to you.* This service will require a S$100 deposit and will be used to offset the mail forwarding charges.Dedicated Phone LineA dedicated local telephone number will be assigned to you. Automated PersonalisedProfessionally trained staff will personally a end to your Gree ng Gree ngcalls using your business name. This number may also be Service Serviceautoma cally diverted to another telephone number specifiedby you. Do not miss any more calls!Dedicated Fax to EmailWe’ll assign a dedicated fax number to you. Faxes received willbe forwarded to your email ID so that you can access them fromanywhere.MONTHLY FEE (US$) 50 200 250 Copyright © 2011 Rikvin Pte Ltd
  8. 8. RIKVIN PTE LTD20 Cecil Street, #14-01, Equity Plaza, Singapore 049705Main Line : (+65) 6438 8887Fax : (+65) 6438 2436Email : info@rikvin.comWebsite : www.rikvin.comThis material has been prepared by Rikvin for the exclusiveuse of the party to whom Rikvin delivers this material.This material is for informa onal purposes only and hasno regard to the specific investment objec ves, financialsitua on or par cular needs of any specific recipient.Where the source of informa on is obtained from thirdpar es, Rikvin is not responsible for, and does not acceptany liability over the content. Copyright © 2011 Rikvin Pte Ltd