- →
-
Contact Form
-
The Bank of the Marshall Islands (BOMI), which the IMF’s 2018 Article IV press release called the country’s only domestic commercial bank, was chartered on 8 November 1982. It runs nine branches from Uliga in Majuro to Ebeye, Kwajalein and Santo, and names First Hawaiian Bank as its correspondent. Bank of Guam, a US bank, also has a branch in Majuro, the only Marshall Islands office in the US Federal Deposit Insurance Corporation’s records. The currency is the US dollar. Banks are supervised under the Banking Act 1987 by the Commissioner of Banking, and in September 2026 the IMF urged that the new Monetary Authority of the Marshall Islands be brought fully into operation.
The law allows it. Section 2 of the Business Corporations Act says a non-resident corporation is not doing business in the Republic merely because it maintains bank accounts or deposits, or borrows from licensed financial institutions carrying on business there. Whether a bank will take one is a separate question, and neither bank answers it publicly. BOMI describes its services as tailored to the needs of every Marshall Islander and notes that its demand deposits are not negotiable outside the islands; Bank of Guam publishes no route for non-resident entities. We could not confirm that either bank opens accounts for NRDCs, or that either refuses them, so ask before preparing a file.
The same section bars a non-resident company from trading with residents, extractive industry, regulated professional services, exporting goods made in the Republic and owning real property there.
An FDIC rule effective 22 April 2026 confirms that dually payable deposits at all branches of US banks in the Marshall Islands, the Federated States of Micronesia and Palau are insured; dually payable means the deposit is also payable at an office in the United States. The standard cover is 250,000 US dollars per depositor, per insured bank, for each ownership category, and company accounts form their own category. Ask Bank of Guam to confirm that an account is set up that way. BOMI is not among FDIC-insured institutions, and we found no Marshallese deposit insurance scheme, so BOMI balances carry no insurance.
The registered agent of every non-resident domestic entity is The Trust Company of the Marshall Islands, which holds bearer share records and audits compliance. There is no public or central beneficial ownership register: the entity keeps its own record of the natural persons owning or controlling more than 25 per cent, and the names of directors, officers and shareholders, who may live anywhere, are not filed publicly. A bank at home or abroad therefore asks the company itself for the ownership chain, with identity, address and source of funds evidence for each person, and expects it to match that internal record.
Airwallex lists the Marshall Islands among its eligible registration countries and onboards those businesses through its Hong Kong entity. Mercury does not: it takes only companies formed in the United States or a US territory, and the Marshall Islands, an independent nation in free association with the United States since the Compact took effect in October 1986, is not a US territory. Revolut Business requires registration and physical presence in the EEA or the United States. The Marshall Islands has no entry in SWIFT’s IBAN Registry.
Our offer page says a shelf company sold pre-banked is not readily available in most offshore jurisdictions. If an NRDC does hold an account, wherever the bank is, the account remains in the company’s name after the shares are transferred; the bank reviews the incoming owners, directors and signatories and decides whether to keep it, ask for more or close it. Bearer shareholders are recorded with the registered agent, so the ownership the bank sees should match that record.
We can supply an NRDC from our ready-made Marshall Islands companies or carry out company formation in the Marshall Islands, help assemble the ownership and source of funds file and, where a bank we have a working contact with suits the business, introduce you; the account decision is the bank’s. See the Marshall Islands overview and our notes on pre-banked companies.
The Bank of the Marshall Islands, which the IMF describes as the country’s only domestic commercial bank, has nine branches across the atolls and First Hawaiian Bank as its correspondent. Bank of Guam, a US bank, runs a branch in Majuro. In September 2026 the IMF still described reliance on a single correspondent banking relationship as an important vulnerability for the country.
The Business Corporations Act allows a non-resident corporation to keep accounts with licensed banks in the Republic without being treated as doing business there. Neither bank publishes a route for non-resident entities, and BOMI presents its services as tailored to Marshall Islanders, so ask the bank before preparing documents; we could not confirm either an acceptance or a refusal policy.
At Bank of Guam’s Majuro branch, yes for dually payable deposits: an FDIC rule effective 22 April 2026 insures them up to 250,000 US dollars per depositor, per bank, for each ownership category, with company accounts as a category of their own. BOMI is not an FDIC-insured bank, and we found no Marshallese scheme that covers it.
Yes, in principle: Airwallex lists the Marshall Islands as an eligible registration country and onboards such businesses through Airwallex Hong Kong, subject to its own checks. Mercury takes only companies formed in the United States or a US territory, which excludes an NRDC, and Revolut Business requires a company registered and present in the EEA or the United States.
Not readily: our offer page puts most offshore jurisdictions in that category. Should an NRDC already hold an account, the account remains the company’s after the share sale, while the bank reviews the incoming owners, directors and signatories and decides whether to continue, ask for more or close it.