The Marshall Islands is a small country located on a group of islands in Micronesia (Pacific Ocean). Fully influenced by the United States. The monetary unit is the American dollar. They are a classic offshore jurisdiction for many areas of business – IT, startups, and especially for doing business as a forex broker. The most eloquent proof of this is that the well-known international broker LiteForex is registered in this territory.
Jurisdiction in the Marshall Islands for a forex broker – advantages
The laws of this state do not distinguish activities in the forex market from other areas of business. There is no separate regulation – there are no restrictions on registration, capital, composition of shareholders, local office and personnel, reporting, etc.
Any business on the Marshalls is carried out based on the basis of the registration of the International Business Company (IBC). This is a veritable paradise for brokers. Let’s formalize the advantages of jurisdiction in the Marshall Islands:
- Fast company registration that can be done completely remotely. If you contact 321Brocer specialists, then in 3-4 weeks you will receive the necessary documents to get started.
- There are no residency (citizenship) requirements for both directors and shareholders. You do not need to hire 2-3 local people, as other offshore companies often require.
- There are no accounting and auditing requirements.
- The beneficiary and the director of the brokerage company can be in one person. Beneficiary data can be disclosed to third parties only after the decision of the local court.
- You can work without a forex broker license, which will allow you to immediately start brokerage activities after registering a company, without wasting time to get a license.
- There is no foreign exchange control.
- There is no corporate tax! All companies owned by non-residents do not pay any taxes and do not submit any reports. Only an annual fee of $ 100 is payable.
Jurisdiction in the Marshall Islands has two disadvantages:
- A company registered there cannot open accounts with a European bank. Still, there are several banks in Europe that work with the Marshalls. 321Broker specialists will help you open an account in one of them.
- Complete dependence on the United States, which is zealously fighting offshore secrecy. True, so far, no negative consequences have been felt from this.
Jurisdiction in the Marshall Islands through 321Broker
Our specialists have extensive experience in registering companies, including brokerage companies in offshore jurisdictions, including the Marshall Islands. You only need the following package of documents:
- memorandum of association;
- company’s stamp;
- minutes of the meeting of directors;
- registration certificate.
- If necessary, we will help you create such documents. The entire registration process, as we said above, will take 3-4 weeks.
Besides registering a brokerage company in the offshore jurisdiction of the Marshall Islands, 321Broker can help in obtaining a brokerage license for the forex market. Its presence, as we said above, is optional, but it will increase the trust of traders in you, which means it will increase your turnover and profit.
We guarantee the legal integrity of registration in the jurisdiction of the Marshall Islands, confidentiality, competitive prices.