This guide was built to help you understand the benefits of incorporating your DAO and how the process of DAO incorporation works. We help you answer questions like:
Why should I incorporate my DAO? In what geographic jurisdiction should I incorporate my DAO? What legal entity type should I choose?
Get all the information you need to make the best decisions for you DAO by reading this guide.
MIDAO is at the forefront of a revolutionary movement, combining the expertise of the Republic of the Marshall Islands (RMI) as a global shipping jurisdiction with cutting-edge blockchain-friendly legislation to create a groundbreaking legal entity solution for decentralized autonomous organizations (DAOs) and Web3 projects.
For over five decades, the RMI has facilitated the growth of the shipping industry and has become a leading jurisdiction for shipping companies looking to set up a legal entity. The country hosts over 40 NASDAQ & NYSE public companies and a remarkable 20% of the world's shipping capacity. Now, MIDAO is leveraging this incorporation experience to help position the RMI as the premier global jurisdiction for DAOs and Web3 projects.
The Marshall Islands has always been a crypto-friendly nation following their attempt at creating a national cryptocurrency, SOV. Despite its unsuccessful launch, an early believer in MIDAO, Mark Lurie, remained excited by the innovative mindset of the RMI.
In 2021, Mark realized there was no adequate place to incorporate a DAO, so he put the best DAO consultant he knew, Adam Miller, in touch with Bobby Muller, a former President's Cabinet member and the leader of the RMI's compact negotiations with the United States.
These two individuals combined their expertise throughout 2021, and at the end of the year, passed the most DAO-friendly legislation to date, the Non-Profit Entities Act Amendment.
MIDAO’s partnership, strengthened and cultivated by Co-Founder Bobby Muller, shares a vision of making the Marshall Islands a leading jurisdiction embracing the Web3 community. As a testament to its dedication to compliance, MIDAO provides a digitized portal for the government to conduct real-time monitoring. This portal and associated compliance mitigates risks associated with money laundering, terrorist financing, and other criminal activities. MIDAO is committed to supporting the integrity of the RMI internationally and keeping the country off of blacklists other offshore incorporation jurisdictions find themselves on.
Furthermore, MIDAO will continue to work closely with government officials to advocate for the country globally. During the COVID pandemic, MIDAO provided financial assistance to the government to help them purchase PPE gear.
MIDAO is approaching 100 DAOs registered and passed a more comprehensive act in 2022, The DAO Act.
Following a recent fundraising round from several qualified investors, MIDAO sets its sights on a future of growth, looking to protect every DAO and Web3 project with a MIDAO DAO LLC, continuing to strengthen its partnership with the RMI government, and begin passing even more revolutionary legislation…
There are so many jurisdictions and entity types to choose from, but most have outdated and inadequate laws because they weren’t written with Web3 in mind. With our simple 30-to-60-day Marshall Islands' incorporation process, which can create for-profit and not-for-profit DAO LLCs, you’ll get the peace of mind from limited liability without having to set up centralized structures or doxing all your members.
MIDAO is the exclusive registered agent in the Marshall Islands for the DAO LLC and DAO Series LLC, which means we will handle everything for you, including your annual filings and providing a physical address. MIDAO is simple, fast, and painless, so you minimize taxes and fees while feeling confident that you and your contributors are protected.