A partnership is registered pursuant to the Republic of the Marshall Islands (RMI) Revised Partnership Act through the filing of a Certificate of Partnership Existence with the Registrar of Corporations. The Certificate may be very general in nature, but must include the name of the partnership, the contact information of the Registered Agent, and a statement that the partnership will file a Certificate of Dissolution following the dissolution of the partnership. Similar to a general partnership, the LP allows for flexible allocation of profits and losses and other distributions.

Marshall Islands LP Key Features

  1. Limited partnerships may be foreign partnerships registered in the Marshall Islands as Limited Partnerships or local Limited Partnerships
  2. Both foreign and local Limited Partnerships can acquire non-resident or offshore status by conducting trade and offering their services strictly outside the Marshall Islands
  3. Marshall Islands Limited Partnerships have both general partners and partners with limited liability
  4. Limited partners have limited liability
  5. A limited partner is responsible for liabilities and obligations only if he assumed responsibilities as a general partner (such as managing and controlling the business) in addition to being a limited partner
  6. Provision is made in the Act to admit persons as general partners and to pay/give interest (split of profits or otherwise) without the general having made or being bound to make any contribution to the business
  7. Admission as a general partner is also possible under the condition that the person does not acquire any interest in the business; or as a sole general partner without contributing or acquiring interest in the business

Marshall Islands LP Legal Requirements

Marshall Islands LP

Corporate Details

General

  • Type of Entity

Limited Partnership (LP)

  • Registered Office in Marshall Islands

Yes

  • Shelf company availability

Yes

Share capital or equivalent

  • Standard currency

USD

  • Permitted currencies

Any

Directors | Officers | Partners

  • Minimum number

2

  • Local required

Yes (1 general partner/director)

  • Publicly accessible records

Yes (although limited partner details are confidential)

  • Location of meetings

No

  • Corporate directorship allowed

Yes

Company Secretary

  • Required

No

  • Local or qualified

N/A

Accounts

  • Requirements to prepare

No

  • Audit requirements

No

  • Requirements to file accounts

No

  • Publicly accessible accounts

No

Marshall Islands LP Tax Treatment

Marshall IslandsLP is not subject to tax on foreign sourced income.

Marshall Islands LP Duration to Set- up

1 -3 Working Days

Marshall Islands LP Distinctive Benefits

  • Exceptionally fast incorporation time of only one business day.
  • All partnerships registered by non-residents and receiving its income outside the jurisdiction are statutorily exempt from taxation.
  • No requirement to file financial statements or to complete annual returns.
  • No currency exchange controls and capital can be expressed in any currency.

The Valsen Advantage

  1. End to end comprehensive service
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  3. Expert advice on structuring options
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  5. Extensive network pool of service providers