The Marshall Islands (RMI) DAO LLC
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The Republic of the Marshall Islands (RMI) has long been a prominent jurisdiction for international business and investment companies due to its nominal corporate taxation, limited reporting requirements, and legislation based on Delaware law. In addition to being a leading jurisdiction for the shipping industry, over 40 public companies traded on NASDAQ and NYSE are domiciled in RMI. This sovereign Pacific island nation recently passed three laws that created a new type of Limited Liability Company (LLC) called a DAO LLC, available as a tax-free Non-Profit and a For-Profit. The RMI DAO LLC structure has several key attributes that make it the preferred legal structure for Web3, Blockchain, Crypto, and DAOs.
Membership and governance can be on-chain utilizing ERC-20, other crypto tokens, or other smart contracts.
Corporate governance, records, and accounting can be maintained exclusively on a blockchain.
Issue tokens including governance tokens, utility tokens, and more, with clear securities law treatment.
Limited identification and disclosure requirements for members.
Non-profits are tax-exempt, can function as ownerless entities, and are approved as non-profit at founding. Read about for-profit taxes .
No requirement to retain directors, officers, trustees, supervisors, or managers. Optionally, have managers or leverage algorithmic management.
The same liability protection and corporate personhood as other leading registered legal entities, protecting founders & members while allowing projects to own property, open bank accounts, etc.
Easier to use and lower costs than other popular jurisdictions:
are fixed & lower, and discounts are available to projects with lower treasuries
No requirement to retain a local law firm or independent directors
Less legal complexity and paperwork than structures requiring multiple entities
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