²located
nearly midway between Indonesia and Hawaii, and are the
easternmost island group in Micronesia
Government
²a highly
dynamic parliamentary democracy
²modeled
after that of New Zealand but in American-fashion
²chief
minister and head of state bears the title of President
rather than Prime Minister
²The
Executive Branch is composed of the President and Cabinet
²The
Legislative Branch includes the Nitijela and a consultative
Council of Iroij (traditional leaders)
² The
Council of Iroij (Chiefs) is a 12-member body that advises
on matters affecting customary law and practice
²no formal
political parties in the Marshall Islands
²The
Judicial Branch of the Marshall Islands includes the Supreme
Court, High Court, district and community courts, and
traditional rights court
²Trial is
by jury or judge
Industry and
infrastructure
²a stable
business environment which is due in part to the
long-standing U.S. involvement with the islands
²economy is
based on the U.S. dollar providing minimal currency
fluctuations
²Air
transportation is facilitated by two international airports,
plus airstrips scattered throughout the larger islands
²There are
twelve deep water docks for large ocean-going ships
²Excellent
international communications provided by satellite links for
telephone, fax and telex
²Financial
services include the Bank of Guam and the Bank of Hawaii, in
addition to more local banks
²major
islands have their own power plants and water systems.
²Commercial
activities include: fishing, aquaculture farms, copra, and a
rapidly expanding tourist trade
²Major
tourist attractions include the
world-class snorkel and scuba diving of submerged World
War II wrecks, colorful reefs and exotic fish in clear warm
water with visibility over 100 feet
Official
Languages
²
Marshallese and English
Corporate
Requirement
²Director:
at least 1
²
Shareholder: at least 1
²Company
secretary: nil
²Annual
return: nil
²Tax:
nil
²Chinese
Name: Yes
²Standard
Capital: US$50,000 / no par value for 500
