3May 2019
May 3, 2019

The cost of Marshall Islands company incorporation and maintenance (LLC, IBC, LP, GP)

Just as with any other classical offshore company incorporation and maintenance it is important to understand costs, your liabilities and obligations towards company maintenance. We will follow up with you any time there if there is any change in legislation or if registered agents change their administrative fees. Thus you will clearly understand your future expenses and above all, which documents you will be able to provide if necessary.

The fee for Business corporation, Limited liability company and General Partnership is the same.

Please see below what is included:

BC – Business Corporation /  LLC – Limited Liability Company / GP-General Partnership

Basic incorporation package BC, PTC, LLC – $ 3,285

  • Corporation/Company Formation
  • Government Registration Fee
  • Registered Agent
  • Registered Office (legal address)
  • One Set of Originals of Corporate Documents*
  • Worldwide Courier Delivery

You will most probably intend to open a foreign corporate non-resident bank account and you need to take into account that banks will require the set of original apostilled documents. This is not included in the basic package so please read below to understand approximate additional costs.

The fee for Limited Partnership (LP)

Basic incorporation package LP – $ 6,500

Please see below what is included:

  • Corporation/Company Formation
  • Government Registration Fee
  • Registered Agent
  • Registered Office (legal address)
  • One Set of Originals of Corporate Documents*
  • Worldwide Courier Delivery

A set of original documents consists of the following documentation specified below:

* One set of originals of corporate documents for BC

Certificate of Incorporation

Endorsement Certificate

Proxy/Power of Attorney (POA)

Articles of Incorporation

Consent of Incorporator

Adopted Standard Bylaws (optional)

Annual maintenance fee for the first year

*One set of originals of corporate documents for LLC

Certificate of Formation

Filed Limited Liability Company Operating Agreement (optional)

Annual maintenance fee for the first year

*One set of originals of corporate documents for LP/GP

Certificate of Limited /General Partnership

Annual maintenance fee for the first year

As mentioned earlier, there will be times when you will need a special certification and verification of your documents and they will need to be apostilled. We therefore recommend you to think about an incorporation package that includes these documents.

Please see the pricelist below. It includes the service of incorporation with all documents apostilled and additional documents for LP and GBP

Apostilled Incorporation Package  of BC or LLC  –   $ 3,785

Company formation and apostilled documents preparation take around 5-6 working days.

Here is what is included:

  • Corporation/Company Formation
  • Government Registration Fee
  • Registered Agent
  • Registered Office (legal address)
  • One Set of Originals of Corporation/Company Documents *
  • One Apostilled Set of copies of Corporate Documents
  • Worldwide Courier Delivery

Apostilled Incorporation Package  of LP or GP   –   $ 7,000

Here is what is included:

  • Partnership Formation
  • Government Registration Fee
  • Registered Agent
  • Registered Office (legal address)
  • One Set of Originals of Partnership Documents *
  • One Apostilled Set of copies of Corporate   Documents
  • Worldwide Courier Delivery

Now let’s take a look at what corporate maintenance fees you might expect every year as well as additional documentation fees if they are ever required (cases of another company formation, additional bank account opening or similar).

Annual maintenance for BC or LLC   –  $ 2,250

Here is what is included:

  • Government Renewal Fee;
  • Registered Agent
  • Registered Office (Legal Address)

Annual maintenance for LP and GP   –   $ 2,850

Here is what is included:

  • Government Renewal Fee;
  • Registered Agent
  • Registered Office (Legal Address)

Post Incorporation documents and services:

·         Bound Set of Copied Documents with Apostille $ 1,900
·         Articles of Amendment (plus additional capitalization tax*, if applicable, * Capitalization tax applies to corporations whose authorized capital exceeds five hundred (500) shares without par value or with a total par value in excess of US$50,000 or its equivalent) $ 1,200
·         Amended and Restated Articles of Incorporation BC $ 1,625
·         Articles of Merger BC $ 900
·         Certificate of Conversion BC $ 1,500
·         Filed Minutes BC, LLC, LP, GP $ 750
·         Filed Bylaws BC $ 750
·         Filed Power of Attorney BC $ 700
·         Articles of Dissolution BC $ 600
·         Revocation of Voluntary Dissolution BC $ 2,250
·         Certificate of Directors & Officers BC $ 900
·         Certificate of Officers & Directors BC (with apostille) $ 1,400
·         Declaration of Holders and Beneficial Owners of Bearer Shares BC $ 1,200
·         Certificate of Incumbency BC, LLC (no apostille) $ 900
·         Certificate of Incumbency BC, LLC (with apostille) $ 1,400
·         Certificate of Good standing original BC, LLC, LP, GP  (no apostille) $ 750
·         Certificate of Good standing original BC, LLC, LP, GP  (with apostille) $ 1,250
·         Certificate of Incorporation BC $ 750
·         Certified Copy of a Filed Document BC, LLC, LP, GP $ 700
·         Recorded Bylaws BC $ 800
·         Recorded Minutes BC $ 800
·         Articles of Domestication BC $ 1,500
·         Certificate of Transfer of Domicile out of the Marshall Islands BC $ 2,500
·         Recorded Power of Attorney BC $ 700
·         Certificate of Amendment LLC $1,200
·         Certificate of Conversion LLC $1,500
·         Certificate of Cancellation LLC $ 1,000
·         Filed Operating Agreement LLC $ 750
·         Certificate of Domestication LLC $ 1,500
·         Certificate of Amendment LP, GP $ 1200
·         Cancellation of Certificate LP $ 1000
·         Certificate of Dissolution, GP $ 900
·         Apostille $ 500
·         Financial Statements (up to 40 transactions per year) $ 2,400
·         Financial Statements (from 40 to 150 transactions per year) $ 4,500
·         Financial Statements (more than 150 transactions per year) negotiated
·         Virtual office in Panama / per year
Address
Mail/Courier forwarding
Dedicated phone number with message taking service
$ 3,000
·         Professional Directorship Service $ 3,400 + expenses

Important Notes:

  • Fees are quoted in US dollars.
  • Fees are paid in advance and annually thereafter.
  • Service Fees are NOT REFUNDABLE.
  • Fees represent the cost of standard services. If a specific service requires additional work, and/ or modifications, prices will increase accordingly.
  • Fees are a subject to a change depending on changes in government charges, inflation and the services demand.

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