Established in 1948, International Registries, Inc. and its affiliates (IRI) provide administrative and technical support to the Republic of the Marshall Islands (RMI) Maritime and Corporate Registries. IRI and its affiliates currently have a network of offices in Baltimore, Dalian, Dubai, Ft. Lauderdale, Geneva, Hamburg, Hong Kong (Harbour Centre), Hong Kong (Gloucester Road), Houston, Imabari, Istanbul, London, Long Beach, Manila, Mumbai, New York (Downtown), New York (Midtown), Piraeus, Rio de Janeiro, Roosendaal, Seoul, Shanghai, Singapore, Taipei, Tokyo, Washington, DC / Reston, and Zurich that have the ability to register a vessel or yacht, including those under construction, record a mortgage or financing charter, incorporate a company, and service clientele. The most important asset to the RMI Registry is it clients, and IRI strives to provide them with full service from any office 24 hours a day. IRI and its affiliates are proud of the unsurpassed service they provide to the international business community and look forward to remaining at the forefront of maritime and corporate registration.
IRI is the world's most experienced, privately administered vessel and corporate registration firm, providing for the specialized needs of the shipping and financial services industries across a broad commercial and economic spectrum. Headquartered just outside Washington, DC in Reston, Virginia USA, IRI operates 27 offices in major shipping and financial centers throughout the world. In 2000, IRI embarked on an ambitious plan to decentralize the RMI Registry. Each IRI office now has the ability to register a vessel or yacht, including those under construction, record a mortgage or financing charter, incorporate a company, and service clientele—all of the services offered by the RMI Maritime and Corporate Registry's headquarters.
IRI's United States (US) headquarters has been in existence since the late 1940s. Correspondent and inspector offices were opened in the early 1960s in London, Zurich, Piraeus, and Hong Kong. More recently, offices have been established in Ft. Lauderdale in 2000; Singapore in 2003; Shanghai in 2004; Tokyo in 2005; Dalian in 2006; Hamburg and Seoul in 2007; Baltimore, Geneva, Mumbai and Roosendaal in 2008; Dubai, Houston and Istanbul in 2009; Imabari, New York (Downtown) and Taipei in 2011; Long Beach and Rio de Janeiro in 2012; Hong Kong (Glouchester Road) in 2014 and Manila in 2015.
William R. Gallagher was promoted to the position of President in January, 2000. In March of 2001 he was elevated to join Tony Guida and Clay Maitland as a Managing Partner. Click here to view Executive Biographies.
THE RMI REGISTRY
In 1990, through a legislatively endorsed joint venture agreement with the Government of the RMI, International Registries, Inc., in affiliation with the Trust Company of the Marshall Islands, Inc. (TCMI) and Marshall Islands Maritime and Corporate Administrators, Inc. administers the maritime and corporate programs of the RMI.
TRUST COMPANY OF THE MARSHALL ISLANDS FACILITY
In 1998, TCMI completed and moved into a new building on Ajeltake Island on Majuro, RMI. In addition to supporting the maritime and corporate programs, the facility provides secretarial services, offices and meeting spaces. The TCMI full address is:
Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH96960
The RMI ship registry program was initiated by the RMI Government in 1988. With the adoption of the Maritime Act of 1990, the maritime laws of the RMI were brought in line with the many changes in ship registration, financing, and licensing which have occurred in the shipping industry. In addition, the RMI has adopted groundbreaking legislation that permits the registration of a vessel that is still subject to a recorded mortgage in its present country of registry. This legislation provides for the continuation of the preferred status of the mortgage without interruption; thus, the foreign mortgage lien accompanies the vessel into the RMI registry.
The RMI Maritime Registry is the third largest registry in the world, surpassing 128 million gross tons at the end of December 2015. Vessel types include oil tankers, bulk carriers, mobile offshore drilling units (MODUs), container ships, passenger vessels and yachts.
First enacted in 1990, the RMI Associations Law is one of the most modern statutes in the world. Although based on United States (US) corporate law, the RMI 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 RMI is a zero tax jurisdiction that statutorily exempts non-resident domestic corporations from taxation on their income and assets. Entity formation is simple and corporate documents may be issued in one business day. The RMI also permits corporate redomiciliation both into and out of the jurisdiction. The non-resident corporate program offers many unique advantages for the investor, shipowner and international business person.
In 1996, the RMI enacted a Limited Liability Company (LLC) Act. The RMI law was modeled after the LLC law of the US state of Delaware. LLCs formed under the RMI Limited Liability Company Act provide a cost efficient way to maximize profits while minimizing liability in a completely confidential environment.