Estonia vs Marshall Islands: which jurisdiction wins?

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

	Estonia	Marshall Islands
Tax headline	0% on retained earnings, 20% on distributions	0% non-resident tax
Formation days	1	2
First-year cost	$1,500	$1,800
Treaties	60+	Limited
Substance	Real management required for tax residency	Minimal for non-resident entities
Banking	LHV, Swedbank, EMIs (Wise)	EMIs and limited correspondents

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