Located in the west-central Pacific Ocean between the territories of Hawaii and Australia, the Republic of the Marshall Islands (RMI) consists of twenty-nine coral atolls and five individuals’ islands divided into two chains known as Ratak and Ralik. Its territory is comprised of 750,000 square miles of which only 70 represent land. This is a particular geographic configuration, unique to this region in the world.
The islands have a humid tropical climate, consisting of a dry season and a rainy season that is manifested mainly between the months of May and November, having a greater impact on the northern atolls.
A Glimpse of History
This territory owes its name to the English explorer John Marshall, who sailed these waters in 1799.
Mundo’s Freedom Rating is a freedom index that takes into consideration aspects such as political stability, personal safety, taxes and investment potential based on our experts’ exhaustive research.
Political Stability: 8
The Republic of the Marshall Islands (RIM) is a democratic, independent and sovereign nation governed by the 1979 constitution where it is defined as a mixed parliamentary regime that holds elections every four years. Its last electoral process was carried out in 2020 and the winner was David Kabua, who was elected by the parliament (Nitijela) to serve as head of state and head of government.
According to Freedom House, the RMI is a stable democracy with regular and competitive elections, where freedom of the press is present and civil liberties are respected.
Nowadays, when we think of investing or establishing a new company, it is possible that the first thing that comes to our minds is not a chain of islands in the Pacific Ocean. However, the Republic of the Marshall Islands is also known for having good international rankings of economic freedom and political stability with a government that greatly promotes the arrival of foreign investment to the country.
In addition to its lovely beaches of white sand and tropical climate during most of the year, there are also countless eases offered by the RMI for those interested in tax exemptions in different economic activities via redomiciliation of companies to the jurisdiction of the Marshall Islands, all regulated by the Republic Marshall Island Association Law which is actually modeled after the corporate laws of the U.S. State of Delaware.
The Republic of the Marshall Islands is located in the middle of the Pacific Ocean and its territory is made up of chains of islands and atolls that distinguish it from other regions of the world, for this reason, navigation has always represented a fundamental part of the life of the Marshallese people, so it was necessary to develop a system that would allow them to adapt in such a way that today the Marshall Islands have the third largest registry of ships in the world with 3,100 vessels and more than 100 gross tons, which represents an important number of the world fleet.
Marshall Islands Ship Registry
Its ship registration system, besides being one of the most modern and highest quality in the world, has worldwide recognition due to its effective management and all the contributions they have made to the safety and security of maritime space.
Since the start of modern history and even earlier, ships have always offered the possibility of getting to know the world and allowing the development of culture through the exchange of goods, services, and even knowledge, also these days the world trade moves to a greater extent by sea, as we have all been able to observe those huge ships arriving loaded with containers and carrying within them an infinite number of products that we use in our daily lives even though they have probably crossed the entire world to reach our hands.
Undoubtedly, the role of nations such as China, Singapore, or Hong Kong whose economic growth and market positioning is becoming more relevant every day, is no coincidence that these countries have some of the most important ports in the world in their territory and of course with huge maritime traffic.
When talking about yachts the first thing that comes to our mind is the status of prestige and class that having this magnificent work of engineering can bring to our lives, it means sailing the Mediterranean free of worries or even spending a weekend in Monaco to witness the Formula 1 Grand Prix from your yacht, it is certainly a feeling full of emotion. However, once you set foot on land you may come to consider that owning a yacht also requires maintenance and other associated costs to fully enjoy its benefits.
This point would be a limitation for many individuals when deciding to purchase a yacht, as the relation between the cost of use and the utility of the yacht does not always lead to a friendly conclusion.
World Bank Invests USD30 mnl in Digital Services and Technology
The Republic of the Marshall Islands is located in the middle of the Pacific Ocean, this remote location coupled with its technological limitations has been an obstacle for investors to undertake a project in the territory. However, we have seen the nation overcome numerous factors and establish itself as the second-largest ship registry in the world, proving that any barrier can be overcome.
Thus, the "Digital RMI" is a project that consists of promoting private sector investment in digital infrastructure that will allow this nation to establish a transition to the digital economy and likewise generate growth in the area of digital government services.
Republic of the Marshall Islands Judiciary
The MI judiciary is the institution responsible for administering justice in the country.
Ministry of Finance Banking & Postal Services
It is in charge of providing a public finance and administration system for the Marshall Islands.
The Office of the Auditor-General Marshall Islands (OAG) It is responsible for the executing of the audit function of the Government of the RMI.
Marshall Islands Marine Resources Authority (MIMRA)
It provides technical assistance to communities with structured fishing plans and also provides support as a consultant and research agency.
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