Set Up Banking for Your Marshall Islands Company
The Marshall Islands uses the US dollar as its official currency, giving your entity a natural USD banking base. We assist Marshall Islands companies in navigating the account opening process — handling documentation requirements and coordinating each step toward activation.
Remote opening
Given the Marshall Islands' remote Pacific location, the banking process is built for distance. Expect a fully remote experience from application through to account activation.
Multi-currency
Start with native USD banking — the Marshall Islands' official currency — and expand into EUR, GBP, and additional currencies as your international operations demand.
Global network
Marshall Islands entities, popular in maritime and international trade, access banking networks that extend well beyond the Pacific into major financial centres globally.
No restrictions
Your Marshall Islands company operates free of exchange controls. Capital moves without currency barriers — a practical advantage for businesses with international cash flows.
Banking for Marshall Islands Companies Explained
Understanding the banking advantages available to Marshall Islands corporate entities
Banking Conditions for Marshall Islands Entities
US Dollar as Official Currency Simplifying International Banking
The Marshall Islands uses the US dollar as its official currency, eliminating conversion complexity and aligning naturally with the world's most widely used reserve currency for corporate transactions.
No Requirement for Local Paid-Up Capital Deposits
Marshall Islands corporations are not compelled to deposit or maintain minimum capital locally, giving founders and directors complete control over where corporate treasury is held.
No Exchange Controls Limiting Corporate Transactions
The absence of exchange controls means Marshall Islands entities can move funds freely across borders in any denomination without prior government authorisation.
Commitment to International AML/CFT Compliance Standards
The jurisdiction actively participates in global anti-money laundering and counter-terrorism financing initiatives, supporting its acceptance by international banking networks.
Flexibility to Establish Banking in Major Financial Hubs
Marshall Islands companies commonly maintain accounts in established banking centres such as Hong Kong, Singapore, and the United States, leveraging the jurisdiction's broad international recognition.
Practical Banking Benefits for Marshall Islands Companies
USD-Denominated Accounts as the Default Standard
Since the US dollar is the local currency, companies benefit from native USD account structures that simplify invoicing, receivables, and payments with American and global counterparties.
SWIFT Connectivity for Worldwide Payment Processing
Banks serving Marshall Islands entities offer full SWIFT access, enabling reliable international transfers to business partners, suppliers, and clients across every continent.
Online Banking and Electronic Payment Capabilities
Corporate clients gain access to internet banking systems for balance monitoring, payment initiation, and statement retrieval, supporting efficient day-to-day financial operations.
Banking Access Across Multiple International Jurisdictions
The flexibility to bank in Asia-Pacific, the Americas, or Europe gives Marshall Islands companies the ability to align their banking with operational geography and client locations.
Remote Account Establishment for Qualifying Entities
Banks in several partner jurisdictions accept Marshall Islands company applications remotely, with digital verification procedures that minimise the need for physical travel.
Why Choose Expanship for Marshall Islands Corporate Banking
Marshall Islands companies, widely used in maritime and international trade, face unique banking considerations due to the jurisdiction's Pacific location. Our team understands these dynamics and guides your entity through the account opening process from start to finish.
Specialist Banking Knowledge
Marshall Islands entities serve diverse industries, from maritime to holding companies. Our team understands the specific banking requirements and compliance expectations for each.
Banking Partner Access
We connect your Marshall Islands company with banking institutions that actively service Pacific-registered entities and understand their operational needs.
Documentation Handled
All application paperwork is assembled and reviewed to satisfy banking requirements — particularly important given the remote nature of Marshall Islands registrations.
Efficient Processing
Our process is designed to overcome the logistical challenges of banking for Pacific-registered entities, keeping applications moving despite geographic distance.
Full Compliance Support
Your Marshall Islands banking application is prepared to meet all international AML standards and institution-specific KYC requirements from the start.
Post-Opening Assistance
After account activation, our team continues to assist with account management, compliance queries, and any banking coordination required.
Marshall Islands Banking Account Options
Evaluate corporate banking options across traditional and digital platforms, each offering different advantages for international business operations and cross-border payments.
Marshall Islands Account Setup Pricing
Flat-fee pricing for bank account opening assistance. Digital banking comes free with incorporation, or choose the unlimited package for broader access.
Digital Banking Package
Streamlined digital account opening for Marshall Islands entities
What You Get
- Assistance with one digital banking provider setup
This package is provided at no extra cost with our Marshall Islands incorporation packages
Unlimited Banking Package
What You Get
- Support with unlimited traditional banking applications worldwide
- Support with unlimited digital banking provider applications
Banking Recommendations
Advice on banks experienced with Marshall Islands entities, including institutions suited to maritime and trade operations
Application Support
Preparation and review of your full banking application package to meet institutional requirements
Certified Document Services
Certified corporate documents and worldwide delivery to banking institutions as add-on
Bank Communication
Managing correspondence and scheduling with banking contacts throughout the account opening process
Marshall Islands Bank Account Process
Secure a corporate bank account for your Marshall Islands entity with our organised, step-by-step approach. We simplify the process from initial selection to final activation.
Pick a banking partner that fits your needs
We identify banking institutions in major financial centres that welcome Marshall Islands companies and match your requirements for currencies, services, and geographic reach.
Put together the necessary documentation and apply
Our team assembles all required documentation — corporate records, beneficial ownership details, and bank-specific forms — into a polished application package.
Work through any additional bank inquiries
If the bank needs additional context or supporting evidence during their review, we handle all follow-up communication to keep the process on track.
Get the outcome and proceed with account setup
The bank's final decision is relayed to you along with our guidance on next steps. Declined applications are redirected to alternative institutions for a fresh approach.
Marshall Islands Account Opening Requirements
Standard documentation and information that banks request when opening accounts for Marshall Islands corporations. We help you prepare a thorough and accurate application.
Certificate of Incorporation
Issued by the Marshall Islands Registrar confirming the corporation's formation and registration
Articles of Incorporation
The corporation's founding document setting out its purpose, structure, and governance provisions
Certificate of Good Standing
Current certificate verifying the company's active and compliant status with Marshall Islands authorities
Director Register
Record of all current directors of the Marshall Islands corporation
Shareholder Register
Complete listing of shareholders with share classes and ownership allocations
Certificate of Incumbency
Document from the registered agent confirming the corporation's current directors, officers, shareholders, and registered office
Valid Passport (Certified Copy)
Notarised copy of each director's passport with clear photo and signature pages
Address Proof
Document confirming the director's residential address, issued within the past three months
Director CV
Summary of professional background, including previous roles, industry experience, and education
Professional Reference
Letter from a bank, lawyer, or accountant confirming the director's professional reputation
Business Plan
Document describing the corporation's planned activities, revenue streams, and operating model
Financial Projections
Estimated financial performance for the first 12 to 24 months of operations
Expected Transaction Activity
Anticipated volume, value, and frequency of transactions through the corporate account
Source of Funds Proof
Evidence showing the legitimate origin of funds intended for deposit
Business Partner and Client Details
Information about principal counterparties, geographic markets, and nature of commercial relationships
Frequently Asked Questions
Straightforward answers to common questions about banking for Marshall Islands corporations and international account opening
The process usually takes 2 to 6 weeks, depending on the banking jurisdiction, document readiness, and the bank's compliance review. Some banks may complete the process faster with well-prepared applications.
Many banks in major financial centres offer remote onboarding for Marshall Islands corporations through video verification and digital document submission. Some institutions may still require a face-to-face meeting.
Initial deposits range from $1,000 for standard corporate accounts to $100,000+ for premium banking. Since the Marshall Islands uses USD as its official currency, dollar-denominated accounts are the natural starting point.
Yes, all banks require evidence of legitimate business operations. This commonly includes a business plan, client contracts, invoices, or other materials that demonstrate the company's commercial purpose.
Most banks require apostilled or legalised corporate documents and notarised personal identification. We ensure all documents are properly authenticated before submission.
Corporate documents should generally be no older than 6 months. The Certificate of Good Standing is typically required within 30 to 90 days of the application. We check each bank's precise dating rules.
Many banks will review scanned copies initially, but original certified documents are normally needed for final approval. We confirm each bank's documentation format requirements at the outset.
Documents in languages other than English need certified translations. Since Marshall Islands corporate documents are issued in English, this typically only applies to ancillary supporting materials.
Banks require disclosure of individuals with 25% or more ownership. Full identification documents, proof of address, and a clear organisational chart or structure explanation are standard requirements.
While the Marshall Islands does not have a formal economic substance regime like some other jurisdictions, banks may still ask about the nature and location of your business operations as part of their due diligence.
Certain banks decline accounts for activities considered high-risk, such as cryptocurrency exchanges, gambling, or unregulated financial services. We steer you toward banks whose policies accommodate your business model.
Keep corporate records and ownership information current, respond to bank review requests in a timely fashion, report any material changes to the bank, and comply with all applicable regulatory requirements.
Standard fees include monthly account maintenance ($50–$500+), international transfer charges ($15–$50+ per transaction), sub-minimum balance penalties, and currency conversion fees. We compare fees across your shortlisted banks.
Most corporate accounts carry minimum balance requirements, typically from $5,000 to $500,000+ depending on the bank and account level. Additional charges may apply if the balance drops below the required threshold.
Yes, many banks provide business debit cards, and credit cards may be available subject to the company's financial standing. Card options and spending limits vary by banking institution.
Banks offer secure digital platforms allowing you to monitor balances, initiate transfers, manage beneficiaries, and download statements. Many institutions also provide mobile apps for account management on the go.
Banks can close accounts for compliance, policy, or business reasons. We advise maintaining more than one banking relationship and can help you secure alternative banking promptly if a closure occurs.
Get Marshall Islands Banking Support
Have questions about Marshall Islands bank account opening, required paperwork, or suitable banking partners? We can point you in the right direction.
