18 steps to incorporating in Marshall Islands in 2024

Marshall Islands company set up is straightforward, with the whole process taking as little as five days once all required information from our Client has been received. A general overview of setting up in this island nation can be found in this Company Registration Guide. Marshall Islands business set up is an efficient process due to our transparent, logical procedures that typically ensures efficient business registration. The procedures typically evolve as follows:

1. Prior to company setup, our Client settles our fees and signs Healy Consultants’ engagement letter;
2. Healy Consultants provides our Client with a detailed engagement plan, outlining a roadmap for company registration, thus minimising unwanted surprises and meeting Client expectations;
3. Our Client and Healy Consultants agree the legal, tax and accounting implications of business formation;
4. Prior to company setup, Healy Consultants also collects the required due diligence from our Client, including passport copies, proof of address, and details on the company’s intended activities;
5. Prior to company set up, our Client and Healy Consultants also agree the company name and the optimum corporate structure, including shareholders and directors;
6. To support business set up, Healy Consultants Incorporation Team performs a company name search with The Marshall Islands Registrar of companies. If available, we will submit for approval your company name to the Marshall Islands Registrar of companies;
7. Healy Consultants receives company name approval from The Marshall Islands Registrar of companies;
8. In order to support Marshall Islands registration, Healy Consultants Incorporation Team proceeds to legally incorporate your Marshall Islands business including: i) filing the Memorandum and Articles of Association ii) filing a Statutory Declaration of Compliance iii) filing a Notice of Situation of Registered Office;
9. To proceed with business incorporation, Healy Consultants Incorporation Team receives the legal Certificate of Incorporation from the Marshall Islands Registrar of companies (usually takes 2 days). Following receipt of the same, we will email you a scanned copy of the Certificate of Incorporation for your records
10. Healy Consultants Compliance Team will file the following documents with The Marshall Islands Registrar of companies: i) notification of appointment of first directors and secretary ii) letter of appointment of first directors iii) consent to act as director
11. Healy Consultants applies for your Business Registration Certificate and pays the required statutory fees. After completion of the same, we will email you a scanned copy of the official government payment advice slip as evidence of payment of your annual statutory fees;
12. Healy Consultants company Secretary Team prepares all post incorporation documents, including minutes of the first meeting, preparation of By Laws, issuance of initial Share Certificates;
13. Following Marshall Islands registration, Healy Consultants provides our Client with a complete company kit including i) original Certificate of Incorporation ii) a bound copy of the Marshall Islands government approved Articles of Association iii) original share certificates iv) an original Marshall Islands government receipt as evidence of payment of annual registration and license fees;
14. To support Marshall Islands business, Healy Consultants’ Banking Team completes corporate bank account opening for our Client. The account includes world-class multi-currency Internet banking facilities. Healy Consultants works with internationally recognised banks such as HSBC, Standard Chartered, and Citibank to provide corporate bank account services;
15. Healy Consultants provides our Client with a local business address in Marshall Islands for invoicing purposes, together with telephone, fax and email support;
16. Healy Consultants assists our Client to obtain corporate finance, trade finance, and to open merchant accounts;
17. If required, Healy Consultants assists our Client to locate business premises in Marshall Islands and recruit local staff following incorporation;
18. Following Marshall Islands incorporation, Healy Consultants e-mails an Engagement Feedback Survey to our Client.