Marshall Islands: Types of Company
Marshall Islands non-resident corporations are easy to form and administer. If standard Articles of Incorporation are used, a company may be formed in one day. Legal and financial professionals may start the incorporation process for a Marshall Islands Corporation on-line.
Each corporation may be organized in the US style with a President, Secretary and Treasurer, or in the UK style with a Managing Director and Corporate Secretary.
The Articles of Incorporation may include special provisions regarding the scope of activities or the conduct of the affairs of the corporation. There are also selected optional purpose and power clauses for attorneys which may be included in the Articles. The Marshall Islands Business Corporations Act provides a list of other provisions affecting corporate activity and administration which may also be included.
Names may be in any language as long as Roman characters are used and any standard corporate suffix is acceptable. The following words cannot be used in the name of a Marshall Islands corporation: 'TRUST', 'BANK', 'INSURANCE'. Terms such as 'Foundation', 'Charity' and others may be used with the permission of the Registry. Two alternative names for the corporation should be included in the event that the first selection is not available.
There is no minimum number of directors or shareholders for Marshall Islands corporations.