The ISO code of Marshall Islands is MH according to the ISO 3166 standard. The local name of the country is the same as its English name. Marshall Islands capital city is Majuro. People in Marshall Islands speak the English, and Marshallese languages. On 21 October 1986, Marshall Islands emerged as a sovereign political entity. In the year 10/21/1986, Marshall Islands emerged as a sovereign political entity. The largest city in Marshall Islands is Majuro.
Marshall Islands is located in the UTC +12:00 time zone, which is also called Marshall Islands Time or MHT. The internet country code top-level domain (ccTLD) for Marshall Islands is .mh. The International dialing code for Marshall Islands is 692. People in Marshall Islands drive on the right side of the road. Total land area of Marshall Islands is 11,854 km² (approx. 4,577 mi²). Marshall Islands is not a landlocked country. It means that is is bordered by at least one major body of water.
Marshall Islands is located in Oceania. Marshall Islands is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Marshall Islands faces various issues, including inadequate supplies of potable water, pollution of Majuro lagoon from household waste and discharges from fishing vessels.
Doing business in Marshall Islands
We offer various corporate services in Marshall Islands jurisdiction. These services can serve both, people coming from Marshall Islands and foreigners. If you plan on doing business in Marshall Islands you might be interested in contacting us.
To find out about starting your business in Marshall Islands click on company formation in Marshall Islands.
To find out how to open a bank account in Marshall Islands and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Marshall Islands.
Choose preferred service below or continue reading to find out more about Marshall Islands.
Demographics of Marshall Islands
The total population of Marshall Islands is 53,167 people. In Marshall Islands, the population density is 310 people per square kilometer (806 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is almost uniform according to a fractionalization scale which for Marshall Islands is 0.0603. Marshall Islands has approximately 3284 foreign immigrants. The median age is approximately 22.5 years. In Marshall Islands, 10 in every 100 people use internet.
The majority religion of Marshall Islands is Christianity, Marshall Islands is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Marshall Islands.
Culture of Marshall Islands
People in Marshall Islands speak the English, and Marshallese languages. According to data on inbound tourists in Marshall Islands, 10,000 tourists arrive in the country each year. One of the most popular national dishes of Marshall Islands is macadamia nut pie. To read more click on culture of Marshall Islands.
Geography of Marshall Islands
Marshall Islands is considered to be a large nation because of its total area. Its total land area is 11,854 km² (approx. 4,577 mi²). Marshall Islands is located in Oceania. Its capital city is Majuro. Marshall Islands has no land borders.
The highest point of Marshall Islands is an unnamed location, with its official height being 10 m (33 ft). Including land mass and EEZ, the total area of Marshall Islands is approximately 2,002,384 km² (~773,121 mi²). The most notable natural resources found in Marshall Islands are coconut products, marine products, deep seabed minerals.To read more click on geography of Marshall Islands.
Economy of Marshall Islands
The currency of the country is United States dollar. The symbol used for this currency is $, and it is abbreviated as USD. 3.2% of population in the country are unemployed. The total number of unemployed people in Marshall Islands is 1,701. Each year, Marshall Islands exports around $0.05 billion and imports roughly $0.12 billion. The Gini Index of the country is 40.8. Marshall Islands has a government debt of 76.5% of the country's Gross Domestic Product (GDP), as assessed in 2012. Marshall Islands is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are copra, tuna processing, tourism, craft items (from seashells, wood, and pearls).
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Marshall Islands is $182 billion. Each year, consumers spend around $155 million. The ratio of consumer spending to GDP in Marshall Islands is 82%, and the ratio of consumer spending to the world consumer market is 0.0004. Personal income tax ranges from 0% to 12%, depending on your specific situation and income level. VAT in Marshall Islands is 4%. In 2013, Marshall Islands received 76 million USD in foreign aid.In 2014, the foreign aid amounted to 82.5 USD.To read more click on economy of Marshall Islands.
Infrastructure of Marshall Islands
In Marshall Islands, 59.3% of the population has access to electricity. There are 3 internet hosts in Marshall Islands. Marshall Islands has 15 airports nationwide.
The number of road motor vehicles per 1000 inhabitants in Marshall Islands is 175. To read more click on infrastructure of Marshall Islands.
Politics of Marshall Islands
Marshall Islands, is a unitary parliamentary republic. With regard to political and civil freedoms, Marshall Islands is 1. Citizens in Marshall Islands experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Hilda Heine.
According to the World Bank Group, the government effectiveness index of Marshall Islands is -1.55. This indicates that the government of Marshall Islands is very ineffective. The government is unable to provide civil and public services for its citizens and has fostered a situation contributing to political and social unrest.In Marshall Islands, the legislative power is vested in a Legislature. The strength of legal rights index for Marshall Islands is 10. Overall, it is considered to be rather strong - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders quite well; credit information is abundant and easily accessible. In 2013, Marshall Islands received 76 million USD in foreign aid. In 2014, the foreign aid amounted to 82.5 USD. Marshall Islands is a member of the United Nations (UN). On 17 September 1991, it joined the UN as a full member state. Marshall Islands is a member of the World Bank. To read more click on politics of Marshall Islands.
Environment of Marshall Islands
Marshall Islands emits 2 metric tons per capita of CO2. The number of road motor vehicles per 1000 inhabitants in Marshall Islands is 175. To read more click on environment of Marshall Islands.
Company formation in Marshall Islands
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Marshall Islands.
When establishing a company in Marshall Islands, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Marshall Islands that will affect the establishment and growth of one's business. Contact us or click on company formation in Marshall Islands to read additional information when setting up a business.
Bank account opening in Marshall Islands
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Marshall Islands. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Marshall Islands, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Marshall Islands or contact us.