An LLC in the Marshall Islands and an account with the Global Bank of Commerce Ltd, Antigua, from 5,999 EUR
We offer you a service of registering an LLC in the Marshall Islands with the opportunity of opening an account with the Global Bank of Commerce Ltd in Antigua and Barbuda. The procedure of incorporation and obtaining an account is carried out remotely, without you visiting these countries personally. It is especially important during the current pandemic.
If you have already made up your mind about getting it done, please apply for a rapid and exhaustive consultation on the matter by emailing to [email protected].
LLC in the Marshall Islands
Who’s going to be interested in starting a company in the Marshall Islands? First of all, the Marshalls are of use to those who are looking for a jurisdiction that is most similar to the classic offshore in the old sense: zero taxation, minimum information exchange, closed registers of beneficiaries and quick registration of the company.
The Marshall Islands offers not only this, but also its flexible legislation that allows you to fine-tune your company to the needs of your business and protect your assets both from business risks and from the interference of external forces.
This article will consider incorporating a limited liability company (LLC). What is the purpose of such a company?
Firstly, the Marshall Islands in general and LLC in particular are suitable for owning ships. Commercial and private, dry cargo and luxury yachts, all of them will find refuge in one of the largest ship registers in the world where they will enjoy favorable taxation and preferential passage through many seas of the world.
In addition, such a special form of company as Serial LLC companies allows one company to own several ships as if they belong to different companies, i.e. risks, revenues, expenses and all other business attributes are delineated.
Although no one prevents the use of this form for other purposes, for example, for dividing the ownership of different properties, or types of assets in general: real estate, deposits, company shares, etc.
Thirdly, companies in the Marshall Islands are good for the usual trading businesses that transport goods, sell goods, that are involved in imports and exports.
It is also common to use the Marshallese companies for various Internet projects and services.
Fourthly, the legislation allows you to set up your LLC very flexibly, which means you can form a structure similar to a corporation or a partnership depending on your goals and wishes.
One has to take into account that it is impossible to register banking, insurance and gambling businesses in the Marshall Islands. Also a challenge for some entrepreneurs will be that the Marshalls are associated with the United States and have close ties with this country. Data even from the closed registers of beneficiaries and directors may end up in the hands of the United States should they so wish.
If the above two points are not fundamental to you, you will be interested in registering an LLC in the Marshall Islands.
Moreover, since October 2019, the Marshall Islands has left the blacklist of the EU offshore companies. The country is implementing all the requirements put forward by the European Union in the area of information sharing. As a result, the reputation of the jurisdiction and its companies improved and immediately attracted the attention of new businessmen.
LLC Registration in the Marshalls
The company’s share capital can be of any size. The most common amount used is up to USD 50,000. If it is higher you will need to pay an additional tax.
You don’t have to pay those 50,000. One dollar will be enough.
Registration takes approximately 3 workdays.
You need to choose a name that doesn’t duplicate the existing ones. At the same time the name can be in any language, if written with Latin letters.
It is forbidden to use Bank, Insurance, Assurance, Re-Insurance, Trust, Foundation, Charity. But it is allowed to use any usual corporate suffixes: Limited, Ltd., A.G., Corporation, Corp, S.A., Incorporated, Inc.
Owners and directors will be listed in the relevant registers, but these registers are not publicly available. At the same time, the company is obliged to monitor the relevance of this information and to provide its data upon the request of the authorities. Otherwise, the company faces a fine.
It is allowed to use the nominees and corporate officials (director and secretary).
Registration is carried out remotely without your personal visit. This is extremely important under the current circumstances of the pandemic.
You will be required to present the following papers:
- Notarized copies of the founders’ passports;
- Proof of the address of residence: utility bills with the name of a person or a national passport with the internal residence permit for Russians;
- In the case of corporate officials (director, secretary) you will need to provide corporate documents of the company;
- A document permitting you to use personal information is required by the Privacy Protection Act. It allows all procedures to be carried out remotely. It is valid for 5 years, you can withdraw it any time, but in this case some services will become unavailable.
Once you have registered your company, you will receive the following papers:
- Certificate of Incorporation;
- Endorsement Certificate;
- Letter of Attorney;
- Articles of Incorporation;
- Registrar’s consent to the director’s appointment;
- Adopted standard corporate charter (optional);
- Service fee (for the first year).
The cost of registering a company in the Marshall Islands and what it consists of
The basic price of an LLC in the Marshall Islands is USD 3,285. This amount includes:
- Your company;
- Paid government duties;
- Paid registration agent services in the Marshall Islands;
- Your company’s legal address (registered address);
- One set of original company documents;
- Courier delivery of these documents to anywhere in the world.
However, since you plan to open a bank account, we recommend you requesting a set of services called “Company+Apostille” which will allow you to receive a set of apostilled copies of your corporate documents for just USD 500. For USD 3,785 you will get all of the above and copies of the documents the bank will need.
Annual company maintenance is USD 2,250 and includes government duties, registration agent services and a registered address.
Extra services for a company in the Marshall Islands
|A set of copies of documents with apostille||USD 1,900|
|Amended Corporate Charter (plus additional capitalization tax, if applicable)* *Capitalization Tax applies to corporations whose share capital exceeds five hundred (500) shares without face value or with a total face value of more than 50,000 U.S. dollars or its equivalent)||USD 1,200|
|Amended and supplemented BC Charter||USD 1,625|
|BC Merger Agreement||USD 900|
|BC Certificate of Compliance||USD 1,500|
|Registered minutes of BC, LLC, LP, GP||USD 750|
|BC Registered Charter||USD 750|
|BC Registered Letter of Attorney||USD 500|
|BC Liquidation Certificate||USD 600|
|Recall of BC dissolution||USD 2,250|
|Certificate of Appointment of BC Directors and Officials||USD 900|
|Certificate of Appointment of BC Directors and Officials (apostilled)||USD 1,400|
|Declaration of BC shareholders and beneficial owners of bearer shares||USD 1,200|
|BC Certificate of Powers, LLC (without apostille)||USD 900|
|BC Certificate of Powers, LLC (apostilled)||USD 1,400|
|Certificate of Good Standing, original (BC, LLC, LP, GP) (without apostille)||USD 750|
|Certificate of Good Standing, original (BC, LLC, LP, GP) (apostilled)||USD 1,250|
|BC Registration Certificate||USD 750|
|Certified copy of a registered document of BC, LLC, LP, GP||USD 700|
|BC Registered Charter||USD 800|
|BC Registered Minutes||USD 800|
|Articles of introduction of BC Articles of Domestication||USD 1,500|
|Certificate of domicile transfer to another jurisdiction of BC||USD 2,500|
|BC Registered Letter of Attorney||USD 700|
|LLC Certificate of Amendment||USD 1,200|
|LLC Certificate of Conversion||USD 1,500|
|LLC Certificate of Cancellation||USD 1,000|
|Registered LLC Operating Agreement||USD 750|
|LLC Certificate of Domicile||USD 1,500|
|LP, GP Certificate of Amendment||USD 1,200|
|LP Certificate Cancellation||USD 1,000|
|GP Certificate of Cancellation||USD 900|
|Financial report (up to 40 transactions per year)||USD 2,400|
|Financial report (from 41 to 150 transactions per year)||USD 4,500|
|Financial report (more than 150 transactions per year)||upon request|
|Professional directorial service||USD 3,400 + expenses|
After the paperwork is completed and the company’s registration procedure is over, we can start opening your bank account.
Corporate bank account with the Global Bank of Commerce Ltd in Antigua and Barbuda
We offer you to open a corporate bank account in one of the oldest and most respected banks in Antigua and Barbuda, the Global Bank of Commerce Ltd. The bank works with international clients, including providing an e-commerce platform.
The account is opened remotely. It is especially important during the current pandemic.
The bank is interested in providing its customers with additional capital gains which is done thanks to the interest on the balance. You can open your account in EUR, USD, GBP, CAD.
The bank offers convenient online banking.
You can open both a regular settlement account and a merchant account for e-commerce.
Papers required for opening a corporate account with the Global Bank of Commerce Ltd, Antigua and Barbuda
- The company’s founders and directors must provide:
- Notarized copies of their travel passports;
- Contact information for the courier (where to send the documents);
- Proof of residence: utility bills no older than 3 months, translated into English and notarized. A certified and translated copy of the internal passport page with the registration stamp is allowed;
- Bank certificate (from 1 year of work with the bank) or a professional reference about you;
- Filled and signed applications for account opening;
- Package of notarized corporate documents (Certificate of Incorporation, Certificate of Good Standing, Memorandum and Articles of Association, Registered Shares or Share Register).
The cost of opening an account is EUR 2,999.
|Settlement account rates|
|Corporate account||USD 10.00 per month|
|Trading (merchant) account
|USD 100.00 per month|
The bank has its requirements to the minimum account balances.
|Minimum account balance and service rates|
|Settlement account||USD 5,000.00||USD 20 per quarter|
of money market
|USD 20,000.00||USD 50 per quarter|
|USD 200.00||USD 10 per month|
|USD 1,000.00||USD 50 per quarter|
|Gold bonds – fixed deposit||USD 25,000.00||USD 5 per month|
|Rate for direct payment of credit/debit orders||USD 20|
|Standing order||USD 5 per each transaction|
|Internal transfers||USD 3 per each transaction|
|Payment of other banks’ checks and their storage/collection||USD 2 per each check|
|Maintenance rate||USD 25|
|Bank certificate||USD 25|
|Confirmation for audit||USD 40|
|Credit report||USD 25|
|Emails||USD 5 per month|
|Account look-up||USD 25 per hour|
Procedure: how to register an LLC in the Marshall Islands and open an account with the Global Bank of Commerce
- Write a request to register a company in the Marshall Islands and open an account for it to [email protected].
- Provide the consultant with the information they will request for initial review.
- Pay for the service of company registration and account opening. The cost is EUR 5,999.
The service is paid for with a card, Bitcoin, Western Union, WebMoney or bank transaction.
- Provide a complete package of documents to register a company and open an account.
- We will register you as an LLC in the Marshall Islands and open your account in Antigua and Barbuda.
- You will start your business.
Are there any questions left? Please write us to [email protected] and get a detailed response.