We are pleased to announce the publishing of a new edition of the Associations Law which has combined the Business Corporations Act, Partnership Act, Limited Partnership Act, Unincorporated Associations and the Limited Liability Company Act into one volume. The 2000 edition also includes all amendments pertaining to these Acts covering the period 1990 to 2000.

By way of background, the Marshall Islands corporate law is one of the most modern in the world. Although based on U.S. corporate law, the Marshall Islands law contains unique provisions enabling the use of British-style corporate management. In addition, there are no requirements to have corporate documentation authenticated by a consular official.

The Marshall Islands is a zero tax jurisdiction and statutorily exempts non-resident domestic corporations from taxation on their income and assets. Corporate redomiciliation, which is still free of charge, is permitted into the jurisdiction. The non-resident corporate program offers many unique advantages for the investor, shipowner and international business person.

In 1994, the Marshall Islands enacted a Limited Liability Company (LLC) Act which was modeled after the Delaware LLC law in the United States. LLCs formed under the Act provide a cost efficient way to maximize profits while minimizing liability and are an excellent vehicle for transactions requiring a considerable degree of passive investment such as:

• venture capital projects
  
• investments in real estate, oil or technology
  
• research and development businesses

  We have also published a new edition of the model form book entitled “Incorporating Guide for the Professional” which corresponds to the 2000 edition of the Associations Law.

  Please note that the Marshall Islands Trust Act of 1994 remains in a separate publication.

  To request a copy of the Associations Law, Incorporating Guide for the Professional, the Trust Act or any other information regarding the corporate program of the Republic of the Marshall Islands, please contact any IRI Office.