Marshall Islands Limited Liability Company Formation Service
in Hong Kong
The Marshall Islands is part of the Micronesian islands situated in the Central Pacific Ocean, its location is about midway between the Philippines, Hawaii, and Australia.
In 1986 the islands gained independence from the United States, and the Republic of the Marshall Islands (RMI) was born. In 1996 RMI enacted her RMI Limited Liability Company Act, which is a closely modeled adaptation after Delaware’s LLC legislation. Meanwhile, the country adopted legislation of “zero tax” to promote her offshore financial services.
In addition to offshore corporate services, RMI is one of the international maritime registry hubs.
|Official Language:||English and Marshallese|
|Legal System:||Customary Law|
|Currency:||United States dollar (USD)|
|Official Name:||Republic of Marshall Islands abbr. RMI|
|Offshore Company Regulatory:||Registrar of Corporations|
|Offshore Company Entity:||Limited Liability Company (LLC)|
Limited Liability Company (LLC) in RMI is a flexible corporate body for conducting international business for tax benefit and better privacy protection. For example, LLC members are protected from personal liability in excess of their capital investment; Profits sourced outside of RMI is exempted from tax; Confidentiality of shareholders, members, directors, managers, and officers of LLCs are no public.
In the market of international business services, the LLC of RMI is the low-cost alternative in term of administration and formation to the business entities offered by other offshore jurisdictions.
In addition to English, Spanish and Chinese are acceptable in the company name and the company’s Articles of Incorporation.
Members can choose not to participate in the running of the business affairs, they can optionally appoint one or more managers to run the LLC. Moreover, members’ identity are not in any documents filed with the RMI Registrar and thus are never part of the public records.
RMI LLC is a tax-free entity as long as they do not conduct business in the Marshall Islands. In fact, all non-resident companies are exempt from having to pay any taxes to RMI government.
Audited financial accounts is not required. In fact, the RMI government does not require any accounting and audit procedures, the LLC is free to choose any accounting standard to follow.
Annual general meetings are not required for either shareholders or the board of directors. If they meet, they can meet anywhere.
In addition, the LLC can choose to allot “no-par value” shares, bearer shares, and registered shares.
The RMI Limited Liability Company Act, which is a clone from the company laws of Delaware, allows the creation of Series LLC (SLLC).
A Series LLC is exactly one LLC. By the laws, it is a LLC containing separate units that operate independently from the other units. Each unit works individually and is isolated from the liability exposure of the different units of the same SLLC.
From the viewpoint of the LLC owners, they can own and modify multiple units under the umbrella of one LLC, each unit has different assets, different members, and thus differnt risk portfolios. SLLC can give the convenience and confidentiality of the effort of forming one LLC. For example, the renewal of only one “master” LLC is needed rather than that of individual units.
We can incorporation Limited Liability Company (LCC) of the Republic of Marshall Islands (RMI) with your choice of company name, contact us for quotation.