This paper presents the theory, design, fabrication and characterization of the novel low actuation voltage capacitive shunt RF-MEMS switch using a corrugated membrane with HRS MEMS packaging. Analytical analyses and experimental results have been carried out to derive algebraic expressions for the mechanical actuation mechanics of corrugated membrane for a low residual stress. It is shown that the residual stress of both types of corrugated and flat membranes can be modeled with the help of a mechanics theory. The residual stress in corrugated membranes is calculated using a geometrical model and is confirmed by finite element method(FEM) analysis and experimental results. The corrugated electrostatic actuated bridge is suspended over a concave structure of CPW, with sputtered nickel(Ni) as the structural material for the bridge and gold for CPW line, fabricated on high-resistivity silicon(HRS) substrate. The corrugated switch on concave structure requires lower actuation voltage than the flat switch on planar structure in various thickness bridges. The residual stress is very low by corrugating both ends of the bridge on concave structure. The residual stress of the bridge material and structure is critical to lower the actuation voltage. The Self-alignment HRS MEMS package of the RF-MEMS switch with a $15{Omega}{cdot}cm$ lightly-doped Si chip carrier also shows no parasitic leakage resonances and is verified as an effective packaging solution for the low cost and high performance coplanar MMICs.