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International Registries, Inc. (IRI) and its affiliates are the Maritime and Corporate Administrators of the Republic of the Marshall Islands (RMI) and have been administering maritime and corporate programs for over 60 years. IRI and its group of affiliates currently have a network of offices in Baltimore, Dalian, Dubai, Ft. Lauderdale, Geneva, Hamburg, Hong Kong, Houston, Istanbul, London, Mumbai, New York, Piraeus, Roosendaal, Seoul, Shanghai, Singapore, Tokyo, Washington, DC / Reston and Zurich that have the ability to register a vessel or yacht, record a mortgage, incorporate a company and service clientele. The most important asset to the Marshall Islands Registry (the Registry) is its 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 staying at the forefront of maritime and corporate registration.
CORPORATE HEADQUARTERS
IRI is the world's most experienced, privately administered ship 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 twenty offices in major shipping and financial centers throughout the world. In 2000, IRI embarked on an ambitious plan to decentralize the Registry. Each IRI office now and has the ability to register a vessel or yacht, record a mortgage, incorporate a company and service clientele—all of the services offered by the Maritime and Corporate Registry's headquarters.
WORLDWIDE OFFICES
IRI's 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 and Dubai, Houston and Istanbul in 2009.
LEADERSHIP
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 MARSHALL ISLANDS REGISTRY
In 1990, through a legislatively endorsed joint venture agreement with the Government of the Republic of the Marshall Islands, International Registries, Inc., in affiliation with the Trust Company of the Marshall Islands, Inc. and Marshall Islands Maritime and Corporate Administrators, Inc. administers the maritime and corporate programs of the Republic of the Marshall Islands.
TRUST COMPANY OF THE MARSHALL ISLANDS FACILITY
In 1998, the Trust Company of the Marshall Islands (TCMI), Inc. 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.
MARITIME PROGRAM
The Marshall Islands ship registry program was initiated by the Marshall Islands Government in 1988. With the adoption of a new Maritime Act in 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 Marshall Islands 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 Marshall Islands registry.
The Marshall Islands ship registry is the third largest open registry in the world, surpassing the 55 million gross ton mark in the first quarter of 2010. Vessel types include oil tankers, bulk carriers, mobile offshore drilling units (MODUs), container ships, passenger vessels and yachts.
CORPORATE PROGRAM
First enacted in 1990, the Marshall Islands corporate law is one of the most modern statutes in the world. Although based on United States (US) 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 that statutorily exempts non-resident domestic corporations from taxation on their income and assets. Entity formation is simple and corporate documents can be issued in one business day. The Marshall Islands 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 Marshall Islands enacted a Limited Liability Company (LLC) Act. The Marshall Islands law was modeled after the Delaware LLC law in the US. LLCs formed under the Act provide a cost efficient way to maximize profits while minimizing liability in a completely confidential environment. |
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