The modern sector consists of wholesale and retail trade; restaurants; banking and insurance; offshore companies registration; construction, repair, and professional services; and copra processing. Company formation in the Marshall Islands is available for residents and non-residents. Non-residents enjoy privacy benefits and zero local taxes. Copra cake and oil are by far the nation's largest exports. A tuna processing plant employs 300 workers, mostly women, at $1.50 per hour. Copra production, the most important single commercial activity for the past 100 years, now depends on government subsidies. The subsidies, more a social policy than an economic strategy, help reduce migration from outer atolls to densely populated Majuro and Ebeye.
The modern sector consists of wholesale and retail trade; restaurants; banking and insurance; offshore companies registration; construction, repair, and professional services; and copra processing. Company formation in the Marshall Islands is available for residents and non-residents. Non-residents enjoy privacy benefits and ze,ro local taxes. Copra cake and oil are by far the nation's largest exports. A tuna processing plant employs 300 workers mostly women, at $1.50 per hour. Copra production the most important single commercial activity for the past 100 years, now depends on government subsidies. The subsidies, more a social policy than an economic strategy, help reduce migration from outer atolls to densely populated Majuro and Ebeye.