If you want to incorporate in Marshall Islands, reading this will help you becoming knowlegeable on the specific tax laws and rates for an IBC which is the most common legal entity in Marshall Islands.
An International Business Company (IBC) in Marshall Islands is entitled to do business outside the country. An IBC may have restrictions to carry out business and own real estate within the territory and conduct certain financial activities. IBCs income earned outside the country, from our research, and this is not personal tax advice, is not subject to taxation. This ranks Marshall Islands as 1st overall in terms of corporate tax rate worldwide.
An IBC in Marshall Islands is commonly used for asset management and protection, real property holding, international trading, holding company, holding patents and trademarks and holding vessels.
An IBC may be formed by one or more shareholders, one or more directors and one secretary, who may be natural or legal persons. Nominee shareholders and directors are allowed. Minimum paid up capital may be US$1. Shares may be in any currency. No-par value and bearer shares are allowed.
Details of shareholders, directors and beneficiaries may not be publicly disclosed. An IBC is required to prepare and maintain accounts, but it may not be required to file any annual report, annual tax return or financial statements. Migration of domicile is permitted.
Dividends paid and received by an IBC are tax-exempt. Dividends are distributions of an earnings of the legal entity, determined by the board, to a particular class of shareholders. Dividends can be one of the following shares of stock, cash payments, or other property. Capital Gains are not subject to taxation. A capital gains tax is levied on the profits that a corporation or natural person realizes when they sell sells a capital asset for a price that is higher than the purchase price.
IBCs payments on dividends, interests, royalties or fees to non-residents are not subject to withholding tax.
Sales tax in Marshall Islands ranges from 2% to 4%, which ranks Marshall Islands as 23rd overall with regards to VAT globally.
There is no known tax on wealth in Marshall Islands. There are no known inheritance, transfer and real property taxes in Marshall Islands.
The above is not tax or legal advice for your particular company tax obligations. We are able to refer you to an expert in Marshall Islands who can give you the proper advice and help you need. Ready to get started? Click incorporate now if you are in a hurry, or press the free consultation button above.
It takes approximately - hours to file and prepare documents for a Marshall Islands Common law for corporate matters.
The corporate tax is approximately 0% which is 1 in the world.
Owners of a company in Marshall Islands are not allowed to carry back a loss .
The vat rate in Marshall Islands is 4% which ranks 22 in the world.