General jurisdiction information:
The Marshall Islands (officially known as The Republic of The Marshall Islands) is situated in the Pacific Ocean and consists of coral atolls, islands and small islets.
The population, according to the 2015 census, is around 59,500.
Its capital city is Majuro.
The official languages are English and Marshallese.
The official currency is US Dollar (US$).
The Marshall Islands obtained independence in 1986. Financial sustainability and military protection are secured by the Free Association Treaty with the USA.
The financial and economic development of the country is largely reliant on the financial assistance provided by the USA and the Asian Development Bank (of which The Marshall Islands are a regional member). A major part of national income is generated by tourism and the offshore sector.
The Law of The Marshall Islands provides for the incorporation and operation of the following legal corporations:
- International Business Companies (IBC) are defined by the Business Corporation as companies deriving profit from operations outside the jurisdiction;
- Limited Liability Partnership (LLP);
- Limited Liability Company (LLC).
LLPs and LLCs enjoy additional benefits and incentives for international business including the establishment of joint international and fixed term companies, internet commerce, investments for start-ups, IPO options, etc.
The country operates 2 international airports and enjoys an advanced telecommunications infrastructure.