Economic Overview, Global Maritime Ship Flag & US COFA Ties
The Marshall Islands operates one of the world's largest commercial ship registries and maintains special economic and defense ties with the US.
Key Economic Sectors
- International Maritime Ship Registry: Global commercial ship and yacht flagging, safety compliance, and corporate registrations (IRI).
- Commercial Tuna Fisheries & Transshipment: Majuro port, the world's busiest tuna transshipment port hub.
- Decentralized Autonomous Organizations (DAOs): Global leader in legal recognition and corporate structuring for blockchain DAOs.
Employment Contracts, Labor Standards & US Dollar Currency
Governed by Marshallese Common Law and national labor statutes.
- Written Contracts: Mandatory in English specifying wages, working hours, and job descriptions.
- Probation Period: Standard commercial practice is 3 months.
Working Hours, Leave & MISSA / MIMHF Social Funds
- Standard Hours: 40 hours per week (8 hours/day over 5 days).
- Annual Leave: Minimum 10 to 15 working days (2 to 3 weeks) paid vacation per year.
- Public Holidays: 11 official national public holidays.
- Social Security (MISSA): Employers contribute 7.0% and employees contribute 7.0% of gross wages (14% total).
- Health Fund (MIMHF): Employers contribute 3.5% and employees contribute 3.5% of gross wages (7% total).
Why Use an Employer of Record (EOR) in the Marshall Islands
- Rapid Maritime & Corporate Deployment: Onboard maritime compliance officers, marine scientists, and DAO managers in Majuro in days.
- MISSA & MIMHF Automated Compliance: Seamless management of 10.5% employer statutory social and healthcare contributions.
