Marshall Islands

I. ABOUT THE COUNTRY

The Marshall Islands are situated nearly midway between Indonesia and Hawaii, and are the easternmost island group in Micronesia. There are no currency regulations or exchange controls. The legal tender is in par with the currency of the United States. The official language for commerce and government is English and Common Law Model is adopted.

II. THE ADVANTAGES

The country enjoys reasonable economic stability. A company will not be subjected to any income tax for all income from outside the islands.

III. CHARACTERISTICS OF THE LIBERIAN COMPANY

SHAREHOLDERS

Minimum of one shareholder is required. Corporate shareholder is allowed. Bearer shares are permitted. There is no requirement to file details of shareholders.

DIRECTORS

Minimum of one director is required. Corporate director is allowed. There is no requirement to file details of directors.

SECRETARY

A secretary is required. Corporate secretary is allowed. There is no requirement to file details of officer.

ANNUAL REPORTING

Filling of accounts and appointment of Auditors are not necessary. There is also no requirement to file returns. No requirement to file financial statements.

LOCAL REQUIREMENTS

Each company has to maintain a registered office address and engage registered agent in the Marshall Islands.