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Get to Know About Marshall Islands
The Marshall Islands is an island nation near the equator in the Pacific Ocean. Despite being a US associate country, it is a sovereign state. This basically means Marshall Islands receives financial and other support (for example, defense) from the United States of America and has to follow some US rules despite being a republic. People from Marshall Islands can move into the USA without a visa to work or study, but the admission is not guaranteed.
The Marshall Islands occupies a total land area of 181.43 square kilometers and is home to an estimated 54,000 people. The currency is USD, and the per capita income is USD 3,789. The country imports more than it exports; however, it has significant tourism and agricultural industries. Additionally, because of its location, the Marshall Islands is a huge shipping industry. So, if you are thinking of doing business in Marshall Islands, you could find some opportunities in these sectors.
The Marshall Islands is a tax haven. Offshore companies that don’t operate in the country don’t need to pay any taxes. There are no withholding taxes, and sales taxes are between 2% and 4%. Thus, many companies prefer to register in the islands, even if they don’t wish to operate in there primarily.
As you can see, the Marshall islands does have limitations, such as low reach, isolation, etc., but it doesn’t mean investors are devoid of opportunities. After all, it boils down to the reasoning, skills, and risk management.