No minimum authorized share capital is required. However, if the authorized share capital exceeds $50,000 USD, a one-time capitalization tax will be imposed. The minimum paid up share capital is $1 USD.
IBC: The IBC may issue bearer or registered shares with par or no par value. Par value shares can be in any currency. Normally, 500 bearer shares or registered are issued without par value. Or, par value shares worth up to $50,000 USD.
LLC: A LLC does not have to issue shares.
The Board of Directors manage the IBC. Only one director is required who can be a citizen of and reside in any country and can be a legal entity (such as a corporation, LLC, trust, etc.) or a natural person. Nominee directors are permitted.
The only required officer is a company secretary is required who can be a resident of any country and either a legal entity or a natural person. The registered agent’s office can provide the company secretary.
IBC: Only one shareholder is required to form an IBC. Shareholders can be from any country and can be natural persons or legal entities. Nominee shareholders are allowed.
LLC: LLC members can choose not to participate in the running of the day to day business affairs. Like shareholders, they can appoint one or more managers to run the LLC. On the other hand, members can choose to actively participate in the daily management without liability exposure.
Shareholders, directors, and officers names are not part of any public records. Nominee shareholders and directors can be appointed.
IBC and LLC do not pay any taxes if they do not carry on business in the Marshall Islands. Note that U.S. taxpayers and everyone obliged to pay income taxes on global income must declare all income to their tax agency.
Financial statement: The Marshall Islands do not require audited financial accounts. There are no filing of any annual returns. There are no required accounting standards or good practices.
A local registered agent must be appointed whose office address may be the registered office for the IBC and LLC.
Double Taxation Agreements: The Marshall Islands have signed a total of 14 TIEAs such as Australia, Denmark, the Netherlands, Norway and the United States, the Faroe Islands, Finland, Greenland, Iceland, Ireland, Korea (Rep. of), New Zealand, Sweden and the UK.