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General characteristics of the jurisdiction of the Republic of the Marshall Islands
The Republic of the Marshall Islands is a state in Micronesia that gained independence from the United States in 1986. However, the US continues to exert economic influence on the Islands. The currency of the Islands is still the US dollar. The Marshall Islands is a fairly young republic that is successfully building its economy on shipping and tourism. The legal system adopted a lot from American law, but also borrowed the norms of the law of Belize, Panama and BVI. The favorable geopolitical position of the Islands between Hawaii (USA) and Indonesia provides the Marshall Islands with stable growth.
The most common form of company on the islands is an international company (Marshal Islands International Business Company), which will have a registered (legal) address on the territory of the Islands, and business activities will necessarily be carried out outside the islands. To manage the company, you can be located in any country in the world.
Legislation
- The Business Corporations Act as amended – IBC The Associations Law of the Republic of the Marshall Islands 1990, The Business Corporations Act
- Norms of English law
Participation in International acts and lists
- The Marshall Islands are included in the “grey list” of the OECD (Organization for Economic Cooperation and Development). That is, the state is still in the process of implementing international tax standards.
- The Marshall Islands are included in the Asian and Pacific list of countries of the Financial Action Task Force on Money Laundering (FATF) – FATF)
- The Marshall Islands are included in the list of countries that meet the criteria of subclause 39.2.1.2 Article 39 of the Tax Code of Ukraine on the basis of the Decree of the Cabinet of Ministers of Ukraine from September 16, 2015 No. 977
Rules of currency exchange control
Missing
Contacts of the Embassy of Ukraine in the USA
Address: 3350 M Street, NW, Washington, D.C. 20007
Phone: +1 202 349 29 20
Hotline: +1 202 3222616
Email: emb_us@mfa.gov.ua
Site: http://usa.mfa.gov.ua
Regime of entry for citizens of Ukraine
It is forbidden. International air service is limited.
Mode of transit passage
Allowed
