Micronesia Registration Advisors, International Corporate Formation Specialists
FSM INTRODUCTION
The FSM is an independent sovereign island nation consisting of four main states – Pohnpei, Yap, Chuuk and Kosrae - and is a member of the United Nations. In 1986 the FSM emerged from its position in the U.N. Trust Territory system to independence and operates as an associated state to the United States under a treaty called the Compact of Free Association.
Micronesia, as a region, occupies a large area of the Pacific, bordering and above the equator. It includes Guam and Saipan which are part of the United States and five sovereign nations: Palau, the Marshall Islands, Kiribati, Nauru and the FSM. The FSM itself is comprised of over 600 islands and covers over a million square miles of ocean.
Overview of the FSM:
| Population: | 105,000 |
| Political System: | Federal Democratic Republic |
| Language: | English |
| Currency: | US Dollar |
Micronesia also has a very long and deep government and personal linkages to East Asia and to Japan, in particular. Japan administered Micronesia for about 30 years under a League of Nations Mandate before and during WWII. Many Micronesians have relatives living in Japan and approximately one in five Micronesians have Japanese heritage.
Moreover, the government of the FSM has made a long term commitment to serve East Asian companies with the innovative development of its Corporate Registry Program, the FSM Captive Insurance Domicile and its Corporate Income Tax system.
There are several general features of the FSM that are attractive and applicable to companies throughout East Asia. Examples of why the FSM is attractive to Japanese companies are that the FSM:
- Is a stable democratic nation, with an independent Judiciary,
- Has very supportive relations with US and Japan,
- Has law firms, accounting firms (including Deloitte), and banks,
- Has an Embassy in Japan located in the Akasaka area of Tokyo (between the Hotel Okura and the ANA/Intercontinental Hotels) and
- Enjoys the presence of both a US embassy and a Japanese embassy on the island of Pohnpei.
In addition to potential economic benefits and cost savings, the FSM Corporate Registry and related programs are specifically appealing to Japanese businesses because:
- Time Zone: The FSM is in the Asia-Pacific time zone, making communication easier relative to competing domiciles that may be located in Europe, the US or the Caribbean.
- Currency Flexibility: FSM law allows for accounting and payment in Japanese yen.
- Japanese Language Assistance: MRA’s employees and network of Japanese speaking service providers and advisors assist Japanese businesses in utilizing the FSM in the Japanese language, wherever possible.
Maps:
Air Service: United Airlines serves all four states of the FSM with flights to Honolulu and Guam.
| TELEPHONE_ | 691 320 1830 |
| EMAIL_ | INFO@MRA.FM |
| OFFICE_ | VB Center, Suite 2A, Pohn Umpomp Place, Nett, Pohnpei, FSM |
| MAILING_ | P.O. BOX 902, KOLONIA, POHNPEI, FSM 96941 |