Mar 10, 2020

Marshall Islands are declared ‘largely compliant’ with the OECD standards: an ideal offshore zone

If you are looking for an offshore jurisdiction that offers a high level of compliance, low taxes, and high speed of company registration, look no further than the Marshall Islands!

And look again if you care about your business reputation and you want to establish a company in the country that complies with all the international regulations and that is not on the ‘black lists’.  

Well-deserved reputation of Marshall Islands

It seems like ‘offshore zones’ these days are an endangered species. They offer a high level of personal data protection, low tax rates, rapid company registration, and low cost of company maintenance. The conditions they offer are more attractive in comparison to those found in onshore high-tax countries.

At the same time, even some mid-shores cannot impress the foreign businessperson with a spotless reputation and respect on the part of the world financial organizations. Many of them remain on the international black lists of incompliant countries for this or that reason.

Since the beginning of 2020, Marshall Islands find themselves tall in the saddle as far as these issues are concerned. It is easy to see why.  

On November 12, 2019, the Organization for Economic Cooperation and Development found the islands ‘largely compliant’ with its standards. This declaration followed the assessment of the measures taken by the Government of the country to combat money laundering and tax evasion.  

For the sake of comparison, another highly popular offshore business jurisdiction – Panama – was declared ‘partially compliant’ with the OECD standards during the same session.  

In addition to that, FATF monitors Marshall Islands closely and continuously assigns the highest level of security to this country in what concerns money laundering and terrorism financing. This year, the next scheduled inspection will be made but the results are known beforehand.

Business people have to make sure that their foreign companies are able to work with European partners and clients. They are also interested in avoiding the need the pay too much in taxes. Thus, their foreign companies have to be registered in low-tax jurisdictions that are off the EU black lists at the same time.

The good news is that Marshall Islands have been scratched off the list on ‘non-cooperative countries’ on November 14, 2019. This has opened much larger possibilities for the entrepreneurs who have companies registered in this jurisdiction.

And the icing on the cake is as follows: France keeps its own black lists and Marshall Islands used to be there. However, on January 7 this year, the country left the French black list too, which has made the life of company owners even better.

It follows that in 2020, Marshall Islands is one of the most secure offshore jurisdictions where you can register a company and have it serviced by international banks.

Let us compare Marshall Islands with some of its competitors:

  Non-compliant (Largely) compliant Non-compliant (Largely) compliant Non-compliant (Largely) compliant Non-compliant (Largely) compliant
Bahamas X X X X
Caymans X X X X
Marshalls X X X X
Panama x x X X

How to register a business company in Marshall Islands

Marshall Islands offer an advanced business legal infrastructure. You can establish an LLC, an IBC, or a partnership (limited or unlimited) in this country without paying a personal visit there.  

Marshall Islands is also one of the largest and most popular sea vessels registrar. Registration of yachts both for personal use and for commercial purposes in the Islands enjoys an especially high level of popularity. Many large-capacity vessels are also registered in Marshall Islands.

Local companies can be used to own ships or to initiate business projects that will attract investments and later can even begin an IPO. You can also engage in classical trade activities or some Internet business.

However, you cannot establish a company in Marshall Islands that deals in financial services including insurance services as it is prohibited by law. The same goes for companies engaged in gambling or cryptocurrencies.

The company registration can be done quickly and easily over the internet. We will gladly assist you in opening a company in Marshall Islands without leaving the comfort of your home. The whole procedure will take us only a couple of days on the condition that you will supply all the necessary registration documents to us.

We can also help you open a corporate offshore bank account for your Marshall Islands company. Under certain conditions, this can be done remotely as well.

An offshore that is trusted

Of course, the Marshall Islands of today is a much more transparent and jurisdiction than the offshore zones of the past. At the same time, this country has been able to preserve some features that international entrepreneurs used to love so much. It has successfully adapted to the new reality.

As a result of the shrewd moves of the Marshall Islands Government, you can open a business company there, in a tax neutral environment, and protect your personal financial information from any third parties with bad intentions.

This is a rare chance when the stars are aligned and thus it should not be missed. Marshall Islands is the most comfortable, most beneficial, and most secure jurisdiction where you can register a foreign company.   

Please apply for our assistance in this matter by writing to [email protected]. If you would like to ask some questions prior to registering a company in Marshall Islands, please feel free to contact us via live chat or WhatsApp.