Rikvin marshall islands incorporation guide


Published on

Published in: Economy & Finance, Business
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Rikvin marshall islands incorporation guide

  2. 2. OVERVIEW Marshall Islands comprises 29 atolls and 5 islands situated in the Pacific Ocean. It is an attractive business and financial centre for international companies and especially popular among maritime companies. Marshall Islands International Business Company (IBC) is a tax-free corporation designed for engagement into all forms of international businesses, with no reporting and record- keeping requirements, and with comprehensive confidentiality features. Rikvin can assist in the opening of corporate bank account with internationally recognised banks such as HSBC, Standard Chartered, Citibank, Citic Marshall Islands: International, DBS bank and Loyal bank. • All Income is tax exempted • No Personal or Corporate tax (Subject to bank due diligences and policies) • No capital gains or withholding tax • No annual reporting or auditing You can also establish a brokerage account with is required • Company can be incorporated Saxo Capital Markets in Singapore. With Saxo, you in a day can trade over 160 currencies in the OTC FOREX market, and over 13,000 stocks from 24 major exchanges around the world including US, Canada (and TSX-V), London and Singapore. For more information: http://sg.saxomarkets.com.Marshall Islands Company Registration 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 incorporation process. Items Description • 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. • Minimum of one director (Can be individual or a corporate entity Directors of any nationality). No resident director is required. • Any number of additional directors can be appointed. • We also offer nominee director service at an additional 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 • Company secretary can be an individual or corporate body. • The same director/shareholder can act as the company secretary. • We act as the company secretary for all offshore companies we incorporate. Paid-up Capital • Minimum paid-up capital: One share of par value in any currency. • Maximum Authorised Share Capital: Unlimited, but additional 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. Incorporation • Residential address proof of proposed shareholders and directors. • Details of the parent company if the shareholder is a corporate entity. Bank Account Opening • We will assist you with bank account opening for your offshore company in Singapore. Online Resources Marshall Islands Company Registration | Marshall Islands Formation | Compare Offshore Company Types Copyright © 2011 Rikvin Pte Ltd
  4. 4. WHY CHOOSE MARSHALL ISLANDS IBC?Marshall Islands Company does not have thetainted “tax haven” reputation that is associatedwith many others offshore jurisdictions;Marshall Islands is refusing to co-operative with theOECD regarding customer information exchange,thus making this corporate jurisdiction a secure,long term solution. A low cost corporate vehicle,that provides confidentiality and limited liabilityprotection; Snapshot of Marshall IslandsTax Planning - Offshore TaxA Marshall Islands Company formation may be Type of Company IBCused to legitimately minimize tax by properly Political Stability Excellentstructuring financial and business affairs. British-based Legal System No Disclosure of Beneficial Owner NoProfessional Services Migration of Domicile Permitted YesA person working overseas may be able to limit his Corporate Taxation Nonetax burden by receiving, into the country in which Minimum Number of Shareholders 1he is working, a fixed level of remuneration and Minimum Number of Directors 1accumulate the balance in an offshore company. Corporate Directors Permitted YesSimilarly, designers, authors, consultants and Company Secretary Required Yesentertainers may assign or contract with an Registered Office/Agent Yesoffshore company the right to receive fees due Local Directors Nounder a contract for services. Local Meetings NoInheritance Planning Government Filing Register of Directors NoPeople who travel the world and expatriates often Government Filing Register of Shareholders Nofind that their connections with foreign countries Annual Return Nocreate uncertainties and undesirable consequences Audited Accounts Nofor their wealth on their death. Copyright © 2011 Rikvin Pte Ltd
  5. 5. The transfer of wealth to an offshore company the formation of international companies with(again, there are no MI trusts) can avoid these no tax or reporting responsibilities. This meansdifficulties, the wealth is protected in a stable you save money not only from zero corporateenvironment well away from the unwanted tax, but also from reduced compliance and otherattentions of the tax and inheritance laws of regulatory costs.foreign jurisdictions. Asset ProtectionWhere a person is domiciled outside a territory High net worth individuals gain privacy and saveand owns assets located in that territory (e.g., on professional fees by using offshore companiesproperty), then such assets may be protected as Personal Holding Companies. These entitiesagainst inheritance tax and higher rates of may be suitable for inheritance planning andtaxation by holding the assets through an offshore reducing the costs and time delays in probate.investment company. You can protect your assets by setting up anConfidentiality offshore company in combination with a Trust.Offshore Companies can offer you complete Choosing the right country to incorporate anprivacy. If the company shares are held by a Trust, offshore company can help you avoid unnecessarythe ownership is legally vested in the trustee, and high taxes that would otherwise be payablethus gaining the potential for even greater tax if the assets were held directly. It can also helpplanning advantages. protect assets from creditors, adverse claimants and other parties; or help you secure againstEstate Planning future claims such as bankruptcy, judgmentYou can set up Family and Protective Trusts creditors and other litigants.(possibly as an alternative to a Will) with anoffshore company for accumulation of investment Investment Companiesincome and long-term benefits for beneficiaries The offshore company is investing in property,without high income, inheritance or capital gains stocks and shares, commodities and other assets,taxes. while providing anonymity and tax savings.Conduct Business with Low or No Funds accumulated can be invested or depositedCorporate Taxes throughout the world, although the funds mayCertain countries such as Marshall Islands allow be subject to the tax regimes of the countries Copyright © 2011 Rikvin Pte Ltd
  6. 6. in which the investments are located. There are It can also be used to successfully avoid capitalcountries with tax free bonds or bank deposits gains and inheritance taxes.where interest is paid gross. Employment CompaniesShipping Companies Payroll costs and travel expenses may be reducedShips or yachts may be owned by an offshore by paying employees working overseas from yourcompany and registered in an offshore jurisdiction offshore base. This may also provide tax relief andwhich can prove cheaper and more tax efficient social security saving benefits for the employees.method of ownership. IPO and Capital RaisingOverseas Property Many large corporations in economically andSimplification of Transfer of Properties Held in politically uncertain countries often diminish theSeveral Countries: If you own properties in several perception of risk by moving ownership of assetsdifferent countries, you will understand that the and the base of their operations offshore.sale or probate of properties can get complex and Single Purpose Trusteeexpensive. If an offshore company collectively Where the client creates his/her corporate trusteeholds these properties title, the ownership can for a family trust, it ensures more effective controlbe transferred by company shares rather than during the client’s lifetime and savings on thirdtransferring the actual properties. party trustee fees. A Marshall Islands company canMany of the difficulties and expenses associated serve as the corporate trustee of a trust formedwith investment in overseas property, such as in another jurisdiction.holiday villas, may be avoided through the useof an offshore company to hold the title of theproperty. Sales of the property at a future datecan be dealt with quickly and easily by the saleof the company shares to the purchaser. This alsosaves legal fees and overseas transfer and valueadded taxes levied by certain foreign countries. Online Resources Marshall Islands Company Incorporation | Compare Offshore Company Formations | Free Company Name Check Copyright © 2011 Rikvin Pte Ltd
  7. 7. OPTIONAL VIRTUAL OFFICE SERVICESPrestigious Office Address, Telephone Answering, Mail Only Business PremiumFax to Email ServicesRegistered AddressWe provide a prestigious address, which can be used forregistered business address for the registration of your company.The address can be used on business cards, letterheads or anyother official documents.Mail NotificationWhenever the mail arrives, we provide an email notificationstating details such as date, sender, type of mail, etc.Mail ForwardingIncoming mail (including courier items and small parcels) will beforwarded as per your instructions. All forwarding postage costswill be charged accordingly to you.* This service will require a S$100 deposit and will be used to offset the mail forwarding charges.Dedicated Phone LineA dedicated local telephone number will be assigned to you. Automated PersonalisedProfessionally trained staff will personally attend to your Greeting Greetingcalls using your business name. This number may also be Service Serviceautomatically diverted to another telephone number specifiedby you. Do not miss any more calls!Dedicated Fax to EmailWe’ll assign a dedicated fax number to you. Faxes received willbe forwarded to your email ID so that you can access them fromanywhere.MONTHLY FEE (US$) 50 200 250 Copyright © 2011 Rikvin Pte Ltd
  8. 8. Helpful Links:Company RegistrationImmigrationAccountingTaxation ServicesOffshore IncorporationRIKVIN 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 informational purposes only and hasno regard to the specific investment objectives, financialsituation or particular needs of any specific recipient.Where the source of information is obtained from thirdparties, Rikvin is not responsible for, and does not acceptany liability over the content. Copyright © 2011 Rikvin Pte Ltd