Domestic CorporationNorthern Mariana Islands
What it takes to form, own and run a private limited company in Northern Mariana Islands, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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the following identified as a shareholders in the corporation’s current record of shareholders constitutes one shareholder: (1) Three or fewer co owners; (2) A corporation, partnership, trust, estate, or other entity;
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A director need not be a resident of the Commonwealth or a shareholder of the corporation unless the articles of incorporation or bylaws so prescribe.
The registry’s and the law’s own pages do not mention it.
Form it
Who registers it
- Registry
- Formed without visiting
- Not stated
The registry’s and the law’s own pages do not mention it.
- Formed online
- Not stated
The registry’s and the law’s own pages do not mention it.
What it takes to form
- A notary
- Not required
- A resident director
- Not required
- Paying up the capital
- Not in our records
Own it
Who may own and run it
- Directors
- None need live there
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A director need not be a resident of the Commonwealth or a shareholder of the corporation unless the articles of incorporation or bylaws so prescribe.
- Shareholders
- A company may be one
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the following identified as a shareholders in the corporation’s current record of shareholders constitutes one shareholder: (1) Three or fewer co owners; (2) A corporation, partnership, trust, estate, or other entity;
- Members
- Not stated
The registry’s and the law’s own pages do not mention it.
- A local company secretary
- Not required
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A corporation has the officers described in its bylaws or appointed by the board of directors in accordance with the bylaws.
- A local registered agent
- Required
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Each corporation must continuously maintain in the Commonwealth: (a) A registered office that may be the same as any of its places of business; and (b) A registered agent, who may be:
Each year, at the registry
- Annual registry fee
- Not stated
The registry’s and the law’s own pages do not mention it.
- Accounts on the public record
- Not stated
The registry’s and the law’s own pages do not mention it.
- Audit for a small company
- Not required
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If the annual financial statements are reported upon by a public accountant, his report must accompany them. If not, the statements must be accompanied by a statement of the president
- Audit
- Not in our records
Important dates
When each obligation falls due, as the authority states it.
- First annual report to the Registrar of Corporations
- 60 days after incorporation
With Office of the Registrar of Corporations
§ 20-50.1-1530(c). A corporation that has not delivered its annual report for 60 days or more may be administratively dissolved (§ 20-50.1-1335(b)).
- Annual report to the Registrar of Corporations
- 1 March
With Office of the Registrar of Corporations
§ 20-50.1-1530(c): delivered between January 1 and March 1 of the following calendar year. The registrar's regulation text lists a $50 annual report fee; a later law (PL 21-37) is recorded elsewhere as $100 and could not be re-read.
What is public
Not in our records What the register shows the public is not in our records for the Domestic Corporation.
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Not in our records
The Department of Finance publishes a CNMI Corporate Income Tax Return (Form 1120CM) for corporations, so a domestic corporation is taxed as an entity under the CNMI territorial income tax. The rate was not stated on the pages read.
- CFC rules in MP
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Dissolution proposed by the board and approved by the shareholders (or, before shares are issued or business commenced, by the incorporators or initial directors), completed by filing articles of dissolution with the Registrar of Corporations.
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At any time after dissolution is authorized, the corporation may dissolve by delivering to the Registrar of Corporations for filing articles of dissolution setting forth:
- Statutory fee
- Not in our records
Every business in Northern Mariana Islands
VAT
- Standard rate
- Not in our recordsThe tax authority’s pages have not been read for MP.
Payment and banking services
None of the services whose lists we hold names MP. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Private limited companyDerived our grouping, the same words in every country
- Name in law
- Domestic Corporation
- Identifier
- MP-CORPORATIONA form ISO 20275 does not list.