International Registries, Inc.

Contact Information

About

Maritime & Corporate Administrators of the Republic of the Marshall Islands.

International Registries, Inc. (IRI) and its group of affiliated companies have been administering corporate and maritime registries since 1948. IRI and its worldwide affiliates offer a complete line of corporate and maritime services. 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 Republic 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 now the ninth largest open registry in the world reaching 22 million gross tons within the second quarter of 2004. Vessel types include oil tankers, bulk carriers, mobile offshore drilling units, container ships and yachts. Vessels and yachts may be registered if owned by a Marshall Islands citizen, national, corporation, limited or general partnership, limited liability company or a foreign maritime entity qualified in the Marshall Islands. Corporate Program: First enacted in 1990, 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 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 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 businessperson. 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 United States. LLCs formed under the Act provide a cost efficient way to maximize profits while minimizing liability in a completely confidential environment. IRI and its affiliates currently have a network of offices in Washington, DC/Reston, New York, Ft. Lauderdale, London, Zurich, Piraeus, Hong Kong and Singapore that have the ability to register a vessel, record a mortgage, incorporate a company and service clientele. In order to meet higher expectations, IRI has expanded its worldwide coverage to include representation in Chile, Dalian, Hamburg, Istanbul, Limassol, Mumbai, Oslo, Port Said, Rio de Janeiro, Shanghai, Taipei and Tokyo. For further information on the Marshall Islands corporate and maritime programs, visit www.register-iri.com or contact any one of their worldwide offices.

Keywords