Marshall Islands companies
Should an SPV be set up in the BVI, Delaware or the Marshall Islands?
There's no single right answer. The jurisdiction follows the deal: where the asset sits, who's funding it, who's lending, and what the exit looks like.
Start with those four questions and the shortlist usually narrows to one or two. The BVI fits cross-border joint ventures and lending against shares, where both sets of lawyers already know the form. Delaware fits when the asset, the lender or most of the money is American. The Marshall Islands fits when you want Delaware-style law without the US tax filings, or when a ship is involved.
The disclosure picture shifted in 2026. BVI beneficial ownership is now searchable by anyone who can show a legitimate interest. Delaware, by contrast, exempted US-formed entities from the federal register in 2025. The old assumption that offshore means private and American means public has reversed.
One thing all three share: none tax the entity itself. The tax lands on the owners, in their own countries. If somebody is selling you a jurisdiction on tax, ask them which country's tax they mean. We form and administer all three from one desk, and we'll tell you where the deal should sit once we know what the deal actually is.
The vehicle is the last decision, not the first. Pick it first and you may have problems with the deal down the road.