International Registries, Inc. (IRI) register-iri.com Experiences? - Marshall Islands (RMI)

[rockrock]

https://www.register-iri.com/They advertise "Providing support to the Republic of the Marshall Islands (RMI) Maritime and Corporate Registries"

Is this an okay or good service provider?

Any experiences?

Wikipedia article is minimal. Could be written by the company themselves, I don't know.
https://en.wikipedia.org/w/index.php?title=International_Registries&oldid=789322876
The talk page looks rather amusing:
https://en.wikipedia.org/w/index.php?title=International_Registries&oldid=789322876
Zero reports on trustpilot.
https://www.trustpilot.com/review/register-iri.com
I am interested to open a company with them.
https://www.register-iri.com/corporate/
According to their FAQ, this the registrar will be The Trust Company of the Marshall Islands, Inc. (TCMI).
https://www.tcmi-inc.com/tcmi/homeThese websites seem pretty similar. Might be the same people behind it.

Payment seems to be possible by credit card only.
https://www.tcmi-inc.com/tcmi/Corporate
Perhaps when asking them they offer other payment methods too.

I couldn't find any discussions about this service provider in this forum or in any other forum.

Why am I considering them?

It's a private company but it seems the government of Marshall Islands assigned the task of being the corporate registry to them.

Government of Republic of the Marshall Islands | USAGov links to Office of Commers Investment & Tourism and under INVESTMENT | RMI-OCIT which is a RMI government website
"The service is provided by Trust Company of the Marshall Islands (TCMI) established in 1990 by the government jointly with Virginia-based International Registry, Inc."

So even if it looks official, legit so far, I still keep wondering why I can find so little about this formation company.

If I use a different company formation service they might just earn a commission (double the price) and the real back office I guess could still be IRI.

Website looks somewhat professional.

The ESR reporting looks rather clear and easy.
https://www.register-iri.com/corporate/esr-faqs/https://www.register-iri.com/wp-con...stance-Reporting-Portal-User-Guide-072921.pdf
Formation document seems easy too.
https://www.register-iri.com/wp-content/uploads/LLC-FORMATION.doc
And of course the price.
https://register-iri.com/wp-content/uploads/LLC-FORMATION.docThe filing fee for a Certificate of Formation is 650 USD. Thereafter, the annual maintenance fee is 450 USD.

Are there any hidden costs?

Why Marshall Islands? Hard to sue, I assume. Protectorate of USA. U.S. Relations With Marshall Islands - United States Department of State says "The U.S. Army Garrison Kwajalein Atoll is the second-largest employer in the Marshall Islands." I guess that means other states better keep their fingers away from any country with U.S. military based even though they don't have an official military alliance. Therefore I hope it will be stable and not get stabbed anytime soon. Zero tax, of course.

Not on any blacklists.
https://www.knowyourcountry.com/marshall1111No FATF, EU tax grey/black list or OECD blackist.

Bank account for RMI company will be I guess either trash or more or less impossible but I can do without.

 

[Sols]

They aren't a service provider in the normal sense. They are appointed by the government-appointed to run the whole offshore companies sector for the Marshall Islands.

You generally can't incorporate directly with them. While they are the only registered agent in the Marshall Islands, they mostly work with lawyers and corporate service providers who resell incorporation services.

 

[rockrock]

They have a Request to Incorporate web form here.
https://www.register-iri.com/corporate/request-to-incorporate/"Legal and financial professionals may start the incorporation process via a secure online form. Online incorporation should under no circumstances be used by anyone without consulting legal counsel."

Implies you're right that IRI cannot be used directly.

What counts as financial professionals?

On the other hand they write "The RMI Corporate Registry offers many unique advantages for the investor, vessel/yacht owner, and international business person that include a full range of services for forming a company, including both Registrar and registered agent services. Each of IRI’s 28 worldwide offices has the ability to incorporate a company, issue a Certificate of Good Standing, register a vessel or yacht, including those under construction, record a mortgage or financing charter, and service clientele."

So maybe it is possible?

Or maybe one of the worldwide offices could do it for the same price?

https://www.register-iri.com/worldwide-offices/

 

[Sols]

"Legal and financial professionals may start the incorporation process via a secure online form. Online incorporation should under no circumstances be used by anyone without consulting legal counsel."

Implies you're right that IRI cannot be used directly.

What counts as financial professionals?

Corporate service providers, financial advisers, trustees, fiduciaries, and some types of accountants.

On the other hand they write "The RMI Corporate Registry offers many unique advantages for the investor, vessel/yacht owner, and international business person that include a full range of services for forming a company, including both Registrar and registered agent services. Each of IRI’s 28 worldwide offices has the ability to incorporate a company, issue a Certificate of Good Standing, register a vessel or yacht, including those under construction, record a mortgage or financing charter, and service clientele."

So maybe it is possible?

Try it. Worst thing that can happen is they say no.

Or maybe one of the worldwide offices could do it for the same price?

https://www.register-iri.com/worldwide-offices/

You can try it but as far as I know, they all report back to headquarters in the US.