Marshall Islands Company Formation
The Marshall Islands are one of the most widely used jurisdictions in international shipping, with corporate law modeled on that of the United States and one of the world's largest ship registries.
What a Marshall Islands company is used for
The Marshall Islands non-resident corporation is the standard vehicle for many shipowners: it owns the vessel, keeps each ship in its own company and organizes shipping groups with fleets across several registries. Its close ties to the ship registry and its recognition across the ship finance sector make it a familiar building block in the industry.
Its corporate law follows US corporate law closely, giving investors and lenders the predictability they expect. Beyond shipping, it's also used for holding companies that value that framework. As a firm based in Panama, a country with deep maritime roots, we combine corporate work with our maritime law practice so the company and the flagging of the vessel move forward together.
Typically a good fit for
- 01Shipowners holding each vessel in a separate company.
- 02Shipping groups and fleet operators.
- 03Ship finance structures.
- 04Holding companies that prefer US-style corporate law.
How we set up your company
With the Marshall Islands we line up the incorporation with your plans for the vessel, covering registration, financing and operation, so the company is ready when you need it.
- 01
Initial consultation
We talk through your business, your partners and what you want the new company to achieve.
- 02
Review and due diligence
We review the documents of the shareholders and beneficial owners and confirm the project is a good fit for the jurisdiction.
- 03
Incorporation
We prepare the formation documents and coordinate the filing with the local registered agent.
- 04
Handover and launch
You receive your corporate documents, and we guide you through the first steps to put it into operation.
What's included
We coordinate with licensed registered agents in the Marshall Islands and, where needed, with our maritime practice on vessel registration and financing.
Incorporation
Name clearance, drafting of the constitutional documents and filing with the registry.
Corporate documents
Certificate of incorporation, first resolutions, share register and appointment of directors.
Registered agent
Registered agent and registered office through our correspondents in the jurisdiction.
Annual maintenance
Renewals, periodic filings and corporate updates handled on your behalf.
Ongoing counsel
Support with the company's corporate decisions: changes of directors, share issuances and shareholder arrangements.
Compliance and transparency
Every company we form goes through know-your-customer (KYC) due diligence: we identify the shareholders, directors and beneficial owners, and review the source of funds and the purpose of the structure. We only work on legitimate business and investment projects, and we follow the rules of each jurisdiction and international transparency standards, including beneficial ownership registers and economic substance requirements where they apply.
The Marshall Islands apply international beneficial ownership and economic substance standards; in shipping we also review the international sanctions rules that apply to the operation.
Frequently asked questions
Why do shipowners use Marshall Islands companies?
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Recognition across the shipping industry, predictable corporate law, and the ease of coordinating with the ship registry and marine finance.
Does the vessel have to fly the Marshall Islands flag?
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Not necessarily. A Marshall Islands company can own a vessel registered under another flag, such as Panama's. We advise on the best combination.
Why one company per vessel?
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It's standard practice to ring-fence risk and make it easier to finance or sell each ship on its own.
Is it useful outside shipping?
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Yes. It's also used for holding companies and businesses that value its US-style corporate law.
Can you help with vessel registration and financing?
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Yes. Our maritime law practice works alongside the corporate team on flagging, ship mortgages and industry contracts.
Further reading
Let's talk about your structure
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