Where arethe MarshallIslands?
The Marshall Islands are located nearly midway between Indonesia and Hawaii, and are the easternmost island group in Micronesia.
The Marshall Islands were under the control of Spain from 1500 to the late 1800’s, Germany from 1885 to World War I, and Japan from 1917 to 1944. After World War II, the Marshall Islands became a United Nations Trust Territory of the Pacific Islands under United States of America administration.
The Republic gained its independence in 1986, after signing the Compact of Free Association with the USA. It then became a full member of the United Nations in 1991 and has established diplomatic relations with the world’s major maritime and industrial nations.
What is aLLC?
It is a Limited Liability Company (LLC). An LLC combines the best traits of an IBC (International Business Company) and a partnership. Like shareholders in a corporation, the members of a LLC are protected from personal liability in excess of their capital investment. Like the partners in a partnership, members can flexibly allocate gains and losses. Flexible management makes the LLC an excellent vehicle for transactions requiring a considerable degree of passive investment, such as venture capital projects, investment in real estate, oil, or technology, as well as research and development of business. In addition, the LLC may be conveniently employed in the types of parent-subsidiary arrangements inherent to large corporations because either an individual or an entity may be a member.
Members are not required to participate in the management of the entity; instead, they may designate “managers” to manage the affairs of the LLC. However, even if members elect to be actively involved in managing the LLC, they still retain their limited liability.
LLCs are registered and governed pursuant to the RMI Limited Liability Company Act.
What is aSeries LLC(SLLC)?
It is a LLC with the ability to create cells (or “Series”), completely independent from each other. Each Series can have its own: member(s), and/or manager(s), assets & liabilities. This is what you buy: for example LLC #4.
What happens if one Series goesbankrupt?
It does not affect any other Series, nor the Master one. The Series is just removed from the list.
What are theadvantagesof the PROMINEE® Series?
Can I doanythingI want with the company?
Obviously not! The following activities are NOT authorised, any Series engaging in such activity will be instantly revoked:
Can you give mespecific examplesof authorized activities in the Marshall Islands?
Can you give mespecific examplesof unauthorized activities in the Marshall Islands?
What is the difference between aSeries LLCin Delaware and in the Marshall Islands?
- From a legal point of view: there are NONE! See the Marshall Islands Association Law, Part IV:
§71: Construction; adoption of Delaware limited liability company law. This Act shall be applied and constructed to make the laws of the Republic […] uniform with the laws of the State of Delaware. […] The non-statutory law of the State of Delaware is hereby adopted as the law of the Republic.
- From a cost point of view: it is a lot CHEAPER with PROMINEE® than in Delaware.
- From an administrative burden point of view: it is at par with Delaware (without the IRS and their forms).
Is there anybigcompany in the Marshall Islands?
There isn’t only one but many publicly traded companies:
Are the Marshall Islandsblacklisted?
No, they are internationally compliant:
Can I change the name of mySeries?
No, the only way to do this is to buy another Series and merge them together (see other question below).
Is it aproblemif I do not have the Series name I want?
Not at all! You can create any website, brand, or trademark that you would like. The company legal name has nothing to do with its products or services. Significant examples includes:
Can I pick my ownSeries name?
Yes! You can order it here! ⚠️However: a human intervention is needed so you will have to wait 🕒 up to 48 hours 🕒 to receive your company documents (we will try to create it as fast as we can). If you are willing to wait: we will create your own Series with the name you have picked at no extra charge. 👌
One last thing: the date of creation of your Series will not be in 2017.
Can I open aPaypal®account in the name of my Series?
Unfortunately not 🙁. But you can use another entity/Paypal account to collect payments!
What do I getaftermy order?
IF your account is already approved & verified, you instantly get the following documents:
Can I get arefundif I do not like it?
Unfortunately: no. A Series has only one single point of contact (the customer) and if not used it is destroyed for ever. This is also a guarantee that we do not resell refunded Series to customers: each Series is completely blank and unused.
Can I combine yourNominee Service(s)with a Series?
Absolutely! However please be aware that this will increase the costs (& renewal).
Can Imergetwo Series into one?
Yes, but you will have to:
- first: purchase the new Series
- second: contact us and give us the Merger Agreement
Can I transfer thedomicileof my Series?
Absolutely! It possible to do all sorts of transfer and/or conversion:
- Conversion of a Series to an IBC within the Marshall Islands
- Conversion of an IBC to a Series within the Marshall Islands
- Conversion of a Series to an IBC from/to the Marshall Islands (Domestication)
- Conversion of an IBC to a Series from/to the Marshall Islands (Domestication)
- Transfer of domicile from/to the Marshall Islands