Bestar's Marshall Islands Incorporation Inquiry Response

Bestar's Marshall Islands Incorporation Inquiry Response

Dear Client,

Thank you for confirming your interest in incorporating a Marshall Islands company. As Bestar, we are pleased to provide you with a detailed proposal outlining the fees, estimated timeline, and the necessary due diligence documents.

The Marshall Islands is a popular jurisdiction for offshore company formation due to its attractive features, including a zero-tax regime for International Business Corporations (IBCs), high levels of privacy, and minimal reporting requirements.

Detailed Proposal for Marshall Islands IBC Incorporation

1. Incorporation Fees

Our comprehensive incorporation package covers all essential services to establish your Marshall Islands International Business Corporation (IBC) in good standing.

Service Category	Item	Estimated Fee (USD)	Remarks
Initial Incorporation	Government Filing Fee	450 - 500	This is the official fee charged by the Marshall Islands Registrar of Corporations.
	Registered Agent Service (First Year)	200 - 300	Mandatory by law. Bestar will act as your registered agent. Includes provision of a registered office address for the first year.
	Professional Service Fee for Incorporation	300 - 500	Covers our expertise in preparing and filing all necessary documents, conducting name searches, and liaising with the Registrar.
Standard Company Kit	Certificate of Incorporation	Included	Official certificate confirming the company's legal existence.
	Memorandum and Articles of Association	Included	The foundational documents outlining the company's objectives, powers, and internal regulations.
	First Board Meeting Minutes, Share Certificates, Registers (Directors, Shareholders, Beneficial Owners)	Included	Essential statutory documents to properly set up the company's internal governance and shareholding structure.
	Common Seal & Company Chop (if requested)	Included	For official company use.
Estimated Total Incorporation	USD 950 - USD 1,300		This estimate is for a standard IBC with an authorized share capital not exceeding USD 50,000. Higher share capital may incur additional government capital tax.

Optional Services (Upon Request):

• Apostilled Set of Corporate Documents: USD 300 - 500 (Often required for opening bank accounts or for international recognition).

• Certificate of Incumbency: USD 250 - 350 (Confirms current directors and shareholders).

• Certificate of Good Standing: USD 250 - 350 (Certifies the company is in compliance with all legal requirements).

• Chinese Name Registration: USD 150 - 200 (Additional fee if you wish to register a Chinese name for the company).

• Nominee Director/Shareholder Services: Starting from USD 500 - 1,000 per annum (if enhanced privacy is desired, subject to specific due diligence and annual fees).

• Bank Account Opening Assistance: USD 500 - 1,500 (Our service to assist with the preparation of bank forms and liaison with selected banks. Bank acceptance is subject to their internal compliance).

• Courier Delivery of Documents: Actual cost (typically USD 50 - 100, depending on destination).

2. Annual Maintenance Fees

To keep your Marshall Islands company in good standing, annual fees are required. These are typically due on the anniversary of the company's incorporation date.

Service Category	Item	Estimated Annual Fee (USD)	Remarks
Annual Government Fees	Annual License Fee	650 - 850	Payable to the Marshall Islands Registrar of Corporations. (Varies slightly based on the authorized share capital, but USD 650-850 is common for standard companies with USD 50,000 capital).
Mandatory Services	Registered Agent Service	Included	Continuation of our services as your registered agent and provision of the registered office.
	Professional Annual Service Fee	150 - 300	Covers ongoing compliance monitoring, handling official correspondence, and maintaining statutory records.
Estimated Total Annual	USD 800 - USD 1,150		These fees are subject to change by the Marshall Islands Registrar of Corporations or due to inflation/demand.

Economic Substance Reporting:

The Marshall Islands requires all entities to complete an annual report on economic substance through the Registrar of Corporations' online portal. There is typically a reporting fee of USD 150 for this. Bestar will assist in ensuring compliance with this requirement.

3. Estimated Timeline for Completion

The Marshall Islands is known for its efficient incorporation process.

• Company Name Availability Check: 1 business day.

• Document Preparation: 1-2 business days (once all required client information and due diligence documents are received).

• Government Filing & Incorporation: 2-3 business days (upon submission of complete documents).

Total Estimated Timeline for Incorporation: Approximately 1-2 weeks from the date we receive all necessary information and cleared payment.

Note: The timeline for opening a corporate bank account can vary significantly, typically ranging from 2-4 weeks, depending on the bank's internal processes and the complexity of the client's business activities.

4. Necessary Due Diligence Documents

As a licensed corporate service provider, Bestar is obligated to comply with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. For each individual (director, shareholder, beneficial owner) and corporate entity involved, we will require the following:

For Individuals (Directors, Shareholders, Beneficial Owners):

1. Certified Copy of Passport:

   • Clear, color copy of the biodata page.

   • Certification should be by a Notary Public, Lawyer, Accountant, or a staff member of Bestar (if you can visit our office). The certifier must clearly state their name, profession, contact details, and date of certification.

2. Proof of Residential Address (dated within 3 months):

   • Certified copy of a utility bill (electricity, water, gas, internet), bank statement, or credit card statement.

   • Must clearly show the individual's name and address.

   • Certification requirements are the same as for the passport.

3. Curriculum Vitae (CV) / Professional Resume:

   • Outlining education, employment history, and professional qualifications.

4. Source of Funds/Wealth Declaration:

   • A declaration explaining the origin of funds to be used for the company and the beneficial owner's overall wealth.

5. Completed KYC Questionnaire/Client Information Form:

   • Provided by Bestar, detailing the nature of business, expected transaction volumes, source/destination of funds, and other relevant information.

For Corporate Shareholders (if applicable):

1. Certified Copy of Certificate of Incorporation/Registration.

2. Certified Copy of Memorandum and Articles of Association/Constitutional Documents.

3. Certified Copy of Register of Directors and Register of Shareholders.

4. Certified Copy of Certificate of Incumbency or equivalent document (dated within 3 months), showing current directors, shareholders, and registered address.

5. Proof of Registered Address: Utility bill or bank statement for the corporate entity (dated within 3 months), if different from the Certificate of Incorporation.

6. Group Chart: Detailing the ownership structure up to the ultimate individual beneficial owners.

7. Due diligence documents for all individual directors and ultimate beneficial owners of the corporate shareholder, as per the "For Individuals" section above.

General Requirements:

• All documents must be in English or accompanied by a certified English translation.

• We reserve the right to request additional documents or information if deemed necessary for our compliance procedures.

Next Steps

To move forward, please:

1. Confirm your acceptance of this proposal.

2. Provide the information and documents listed under "Necessary Due Diligence Documents."

3. We will then issue an invoice for the initial incorporation fees.

Once we receive the cleared payment and all required documents, we will commence the incorporation process immediately.

We are committed to providing you with efficient and professional services. Should you have any questions or require further clarification, please do not hesitate to contact us.

Sincerely,

The Bestar Team