Marshall Islands (full name-the Republic of the Marshall Islands) is one of the most attractive offshore zones in the world. It is located in the Pacific Ocean, between Hawaii and Indonesia, and is a member of the United Nations, the Asian Development Bank, and several international organizations and Pacific communities. Its popularity is due to many factors, some of which are:
- The opportunity to get all the advantages of working in a tax-free jurisdiction, the complete absence of taxes, including income tax, interest payment, dividends, and capital gains, the lack of currency control.
- Proximity to the United States of America.
- The ability to create a company on the type of English or American.
- The Hague Convention, which exempts from the requirement of legalization of foreign official documents for the States parties to the Convention, was signed.
- No need to submit financial statements and audits.
- The official language is English, the state currency is the US dollar, which is very convenient for international business.
- High speed, simplicity (without personal presence, minimum documents) and low cost of company registration.
- The basic laws for business are the companies Act (Associations Law), the Partnership Act and The business Corporation Act, developed on the basis of the corporate laws of the States of New York and Delaware (one of the most favorable and developed business laws in the world), with borrowings from British law.
- Closed Register of companies, respectively, data on owners are not publicly available.
- It is possible to reorganize companies (merger and transformation into other legal forms with companies from other countries, etc.) and transfer an existing foreign company to the jurisdiction of the Marshall Islands.
It is worth considering that the Marshall Islands are totally dependent on the United States (their status is the same as that of Puerto Rico), and the United States today, as we know, is the main fighter for the openness of offshore secrecy. Although this does not make information about the owners in the Register of companies of the Marshall Islands publicly available, dependent on the US offshore is still not suitable for everyone.