On 10 October 2019 it was announced at the European Union (EU) Economic and Financial Affairs Council (ECOFIN) meeting in Brussels that RMI was removed from the EU’s list of non-cooperative jurisdictions for tax purposes. The decision was made as a result of productive dialogue between the RMI and representatives from the EU Code of Conduct Group and European Commission.
The amendments to the RMI Economic Substance Regulations indicated the RMI’s commitments with respect to the EU’s tax policies and were positively received by the European Union.
The publication containing the text of the Republic of the Marshall Islands Economic Substance Regulations, 2018, as amended, through 29 August 2019 is available on the RMI Register website here.
The RMI is determined to continue the process of cooperation with EU, while already demonstrating the strong intention to fully comply with the EU tax initiatives and adapt to the international standards.
The RMI is well-known for its modern corporate registry and is the world’s leading ship registry, having a perfect score from the International Chamber of Shipping, making it a highly popular choice for entrepreneurs and investors worldwide.
Source: Corporate Registry of the Marshall Islands
