Procedure of company formation
Incorporation of an international Corporation, LLC or Partnership in the Marshall Islands is extremely efficient and can be completed within a matter of days. The Marshall Islands Associations Law 1990 provides the legal framework for the incorporation of an international company. This is comprised of the Business Corporations Act; Revised Partnership Acts; Limited Partnership Act and Limited Liability Company Act, dependant on which type of company you wish to form.
The summary below provides an overview of the process and the documents needed, and dependant on which type of company you require, to form an international company in the Marshall Islands, an application form must be completed, signed and scanned containing information about a preferred name, details of Directors and details of any Shareholders if applicable.
- A scanned and notarised copy of the passport for the Directors and Shareholders is required.
- A scanned copy of proof of residence, such as a utility bill, Bank statement or Bank reference no longer than 3 months old. (Via our online client verification system).
- At this point Eltoma will confirm the company name availability and issue an invoice.
- Upon receipt of payment Eltoma will start the company formation process. It takes approximately 5 working days to fully incorporate an offshore company in the Marshall Islands and up to 5 working days for a courier delivery. (Taking into consideration that we receive all the signed required forms in time).
- Annually Eltoma will issue an invoice to cover renewal fees.
Cyprus Variable Capital Companies: AIFs
There are two types of Variable Capital Companies in Cyprus; UCITS and AIFS. Read on to find out more about Alternative Investment Funds.
Cyprus Variable Capital Companies: Open-Type UCITS
There are two types of VCCs in Cyprus; UCITS which we will discuss in the following article, and AIFS.
Protection of Nominee Directors from IRD claims for Cyprus client companies
Legislation re Cyprus Tax Residency:
Cyprus Company Law: Responsibility of Directors for the non-payment of taxes
A Company Director, in a company incorporated under the laws of the Republic of Cyprus, may be found liable by the Inland Revenue or Customs & Excise with regarding tax related issues. As per the legislation, the Inland Revenue or Customs & Excise may personally prosecute the Company Directors who are involved in any taxation offence(s) or related financial matters.
Inward re-domiciliation: changes to the Singapore Companies Act allowing foreign firms to re-domicile to Singapore
In order to ensure that the regulatory regime of Singapore continues to be robust, relevant and in line with international norms, on the 30th of March 2017, the Companies (Amendment) Act 2017 of Singapore was gazetted. Among the number of amendments to the Companies Act, the provisions for the inward re-domiliation regime are arguably the most important in further boosting Singapore’s character as a business hub.
Inward re-domiciliation: Key changes to the Singapore Companies Act make company relocation to Singapore easier than ever
Last March, the Singapore Government amended the Singapore Companies Act 2017 which introduced an inward re-domicile (or relocation) regime in an effort to boost Singapore’s attractiveness as a business hub.
Cryptocurrencies: technical and legal overview
In this article, we will try to succinctly describe the technical and legal characteristics of Cryptocurrencies. The understanding of Cryptocurrencies is crucial for today’s modern payment services and investment opportunities around the world. We have seen the increasing importance that this topic has acquired in the last few months and the rise of the price of the most popular type of Cryptocurrency, the Bitcoin, from $0.06 cents of a dollar in 2010 to $5,518.85 by the 25th of October, 2017.
The Belize IBC Amendment Act 2017: 3 notable changes for businesses
Belize has amended its International Business Companies Act. These changes were to maintain its financial services industry in the increasingly regulated international market & meet the OECD white list requirements.