Bermuda vs Marshall Islands: which jurisdiction wins?

Bermuda vs Marshall Islands — both credible, very different trade-offs. Below: side-by-side on the variables that actually move the decision.

	Bermuda	Marshall Islands
Tax headline	0% (15% CIT for in-scope MNEs from 2025)	0% non-resident tax
Formation days	7	2
First-year cost	$6,500	$1,800
Treaties	Limited	Limited
Substance	Economic Substance Act 2018	Minimal for non-resident entities
Banking	Butterfield, HSBC Bermuda, Clarien	EMIs and limited correspondents

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