Marshall Islands Company Incorporation Package #MIIBC03 - Company Registration and Corporate Bank Account

1. Marshall Islands Company Registration and Bank Account Packages

(1) Marshall Islands International Business Company Registration (for company with share capital of no more than USD50,000 and without Chinese name):USD850

With a standard share capital of USD50,000, the registration fee together with the first year maintenance fee is USD850. In particular, the fee covers:
(a) first year licence fee
(b) first year registered agent and registered office
(c) one complete company kit (Memorandum and Articles of Association and common seal and rubber stamp etc)
(d) our incorporation service charge

(2) Certificate of Incumbency: USD150

One original Certificate of Incumbency (also known as Registered Agent’s Certificate) issued by the registered agent immediately after the company is registered. The certificate of incumbency is required by the bank for the purpose of bank account opening.

(3) Corporate Bank Account with a leading international bank in Hong Kong: USD425

After the company is duly registered, we will assist you to set up a corporate account with a leading Hong Kong Bank in Hong Kong for your Marshall Islands IBC. Hong Kong Banks requires the physical presence in their Hong Kong branch of at least one director or one shareholder for the purpose of due diligence. Once the company is registered, we will arrange with the client to come to Hong Kong and visit the bank to open the bank account. In any case that the director/authorised signer could not come to Hong Kong, then he must at least visit any of our offices so as to get his passport and residential address proof and signatures in the bank account opening form verified. In such cases we need solid business proofs from you.

The bank account offers ATM card, HKD check book and Internet banking facility.

Please more information about the bank account and the bank account opening procedures, please browse the following webpage:
http://www.bycpa.com/Html/news/20096/1424.html

Total Package Price (1) + (2) + (3) = USD1,425.00 (excluding delivery)

Note:

(1) A extra fee of USD150 is applicable if Chinese name is also registered.
(2) The above fees also applicable to purchase of readymade company.
(3) The fees stated above does not include delivery fee, if any.

2. Step by Step to Register a new Marshall Islands Company and Setting up Corporate Bank Account

Step 2
Kaizen issues an invoice of the fees and email the invoice to you and you arrange payment by check, bank transfer or wiring or Paypal. Detailed instructions will be provided upon confirmation of order.

Step 3
You provide to Kaizen either by fax or scan and email the following materials:
(1) Proposed company name, either in English only or both English and Chinese;
(2) One photocopy of passport (only the page showing the particulars of the holder) and residential address of each shareholder; if shareholder is another corporation, please provide Certificate of Incorporation and Registered Office of that corporation;
(3) One photocopy of passport (only the page showing the particulars of the holder) and residential address of each director; if director is another corporation, please provide Certificate of Incorporation and Registered Office of that corporation;
(4) Amounts of authorized share capital and issued capital, percentage of shareholdings if more than one shareholder.
(5) A brief description of the principal business activities of the Company.

Step 4
Kaizen checks the availability of the proposed company name. If available and after payment confirmed, Kaizen proceeds to registration; if not available, Kaizen will go back to you for more company names and performs the availability search again.

Step 5
Kaizen receives the Certificate of Incorporation from the Registrar of Companies in Marshall Islands.

Step 6
Kaizen attends to the followings:
(1) Printing Memorandum and Articles of Association
(2) Preparing minutes of First Board Meeting
(3) Preparing Application for Allotment of Share(s) for each shareholder
(4) Preparing Consent to Act as Director for each director
(5) Updating Register of Members
(6) Updating Register of Directors
(7) Preparing Share Certificate
(8) Carving Common Seal and rubber chop

Step 7
Kaizen arranges to deliver the above documents/materials (together known as Company Kit) to you.

Step 8
Upon receipt of the Company Kit, you sign the following documents:-
(1) Application for allotment of shares
(2) Minutes of First Board Meeting
(3) Consent to Act as Director
(4) Share Certificate
and then either fax or scan and email a copy of the duly signed documents as listed above to Kaizen. Registration procedures completed.

Step 9
Once the documentation for the registration is completed, Kaizen then arranges the client to our offices or come to Hong Kong and visit the bank to open the bank account.

Step 10
Kaizen visits the bank with the client and/or present the account opening documents to the bank and the bank process the account opening.

3. Documents and Information Required for MI Company Incorporation and Bank Account Opening

Documents and Information needed to be provided by you for the purpose of company registration and opening of bank account
(1) A photocopy of identity card or passport of each director and shareholder
(2) Residential addresses with proof of all directors and shareholders, such as utility bill, telephone bill.
(3) Proposed name of the company
(4) Amount of share capital (unless otherwise advised, all company will be incorporated with a standard share capital of USD50,000) and percentage of shareholding by each shareholder, if more than one shareholder
(5) Proof of business activities to be carried out by the company, such as brochure, purchase order, invoice, L/C or business plan

4. Time Frame

The whole processes for the tailor-made and readymade companies could be completed in around 3-5 days and 2 days respectively. The bank account opening requires an extra 5 days.

5. Documents Given to Clients after Completion of Registration

(1) Original copy of Certificate of Incorporation
(2) Three (3) copies of Memorandum and Articles of Association
(3) Ten (10) copies of share certificate
(4) Register of Members and Register of Directors
(5) Common Seal and company chop
(6) Minutes for the appointment of first director(s)
(7) Bank account details

6. Time of Billing

Upon receipt of your order, we will issue an invoice to you for your settlement. We require full payment in advance.

7. Payment Method

We currently only accept Hong Kong Dollar check, cash or TT and payment by Paypal. Please note that a handling charge/commission is of 4% on the invoice amount is applicable for payment by Paypal. Please click here for payment methods.

8. Marshall Islands IBC Annual Maintenance Cost

With a standard share capital of or less than than USD50,000, the annual maintenance fee of a Marshall Islands company for second year and thereafter is USD650, which includes annual licence fee, registered agent and registered office fees.

The annual renewal or maintenance fee is payable to the Registry before the anniversary day of the company and therefore the payment should reach us at least one month before the anniversary day.

Possible late renewal penalty:

• Within 2 months of renewal date = US$650 + 10%
• Over 2 months of renewal date = US$650 + 50%
• Over 5 months, the company will be struck off from the registration.

We will send reminder together with our invoice for the annual renewal fees to our clients in relation to the annual renewal by email two month before it falls due. It is very important that we are always being updated of any change of your contact details.

For further information or assistance, please call us:

Hong Kong Office: +852 2341 1444
Singapore Office: +65 6883 1061
Shenzhen Office: +86 755 8268 4480
Shanghai Office: +86 21 6439 4114
Beijing Office: +86 10 6210 1890 

or send email to enquiries@bycpa.com.