Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the honest assessment, including banking and payment rails.
The real answer on the Marshall Islands.
The Banking Act 1987 gives the Banking Commissioner authority over banking, trust company business and a financial-services-provider regime that can reach fund managers and investment managers, but there is no standalone securities or investment-firm licence here. What the Marshall Islands actually offers is one of the world's most efficient corporate registries.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Marshall Islands in brief
A registry, not a securities regulator.
The Marshall Islands runs one of the world's most efficient corporate and maritime registries, and it has a Banking Act from 1987 administered by a Banking Commissioner appointed by the President. That Act licenses banking business - receiving deposits from the public and deploying them, and permits licensed banks to conduct trust company business. It also establishes a separate licensing regime for financial services providers, a definition broad enough to reach fund managers, financial advisers and investment managers where they meet its statutory terms. What the Act does not create is a standalone securities or investment-firm licence of the kind the BVI, Cayman or Cyprus issue. There is no securities commission here issuing dealer or portfolio-management authorisations.
That distinction is the whole page. A Marshall Islands company is a genuinely useful instrument - fast to form, well understood by international counsel, with a registry that works and economic-substance regulations that have to be planned for. It is not a licensed investment firm, and a certificate describing it as one is describing a formation. The right architecture is layered: the regulated activity authorised by a regulator that supervises it, the Marshall Islands entity doing what a well-run holding or operating company does. We build that structure, register the entity properly, handle the substance filings, and read any document you have already been sold.
Supervision here runs through a Banking Commissioner under the Banking Act 1987 - banking business, trust company business and a financial-services-provider regime. There is no standalone securities or investment-firm licence.
The registry itself is excellent and worth using - as a corporate layer, with economic substance assessed. The investment licence gets built where a securities regulator issues one.
What we actually build
Registration here - the licence where it belongs.
Two concrete deliverables: a properly formed Marshall Islands entity with its substance position planned, and real investment authorisation from a regulator that issues one.
Registration here. The investment licence where it exists.
01 - RMI REGISTRATION
Registration, done cleanly
A non-resident domestic entity formed properly, with registered agent, correct records and its economic-substance position assessed rather than ignored.
A non-resident domestic entity formed properly, with registered agent, correct records and its economic-substance position assessed rather than ignored.
- ✓Non-resident domestic entity
- ✓Registered agent engaged
- ✓Economic substance assessed
- ✓Records and filings correct
- ✓No 'investment licence' claimed
- ✓Days to formation
02 - THE REAL LICENCE
The licence, where it belongs
Investment authorisation built where a securities regulator issues one. With the Marshall Islands entity in whatever legitimate role the group actually needs.
Authorisation from a securities regulator. BVI or Cayman for funds, Seychelles for global books, CySEC or Baltic for the EU, DFSA for the Gulf.
- ✓Funds - BVI, Cayman, Bahamas
- ✓EU mandates - CySEC / Baltic
- ✓Gulf - DFSA in the DIFC
- ✓Global books - FSA Seychelles
- ✓Migration from paper structures
- ✓One group, one coherent map
Based on the Banking Act 1987, which licenses banking and trust company business and establishes a financial-services-provider regime. With no standalone securities or investment-firm category.
Why read this page
Six things worth knowing before you buy.
✓
There is no securities commission
Supervision here runs through a Banking Commissioner under a banking statute, not a securities regulator issuing investment licences.A banking statute only.
✓
The registry is genuinely good
Fast formation, internationally familiar entity law and a registry that works. Real value, correctly described.Real value, described.
✓
The provider regime is broad
Financial services provider licensing can reach fund managers and investment managers on its own statutory terms, which is not the same as an investment-firm licence.Own statutory terms.
✓
Economic substance applies
The substance regulations are real and filed annually. Structures that ignore them create problems later.Filed annually.
✓
Banks read categories
A claimed authorisation that matches no statutory category fails the first compliance review.Mismatch ends it.
✓
Rescue is routine
Structures built on a mis-sold certificate can usually be rebuilt around a licence that exists. Bring the paperwork.Bring the paperwork.
How it compares
How the Marshall Islands differs from licensed routes.
The comparison, side by side: an excellent registry against actual investment authorisations.
Marshall Islands vs licensed jurisdictions
| Feature |  Marshall Islands | Licensed jurisdictions |
|---|---|---|
| Supervisor | Banking Commissioner | Securities regulator |
| Investment firm licence | No standalone category | Licensed and supervised |
| Instrument | Entity registration | Supervised licence |
| Right use | Holding / operating layer | The regulated business |
Supervisor
Marshall IslandsBanking Commissioner
Licensed jurisdictionsSecurities regulator
Investment firm licence
Marshall IslandsNo standalone category
Licensed jurisdictionsLicensed and supervised
Instrument
Marshall IslandsEntity registration
Licensed jurisdictionsSupervised licence
Right use
Marshall IslandsHolding / operating layer
Licensed jurisdictionsThe regulated business
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Marshall Islands | Registration only | Entity fees | No investment category |
 BVI | Approved Manager / Cat 3 | No income tax | US$400M AUM cap, US$1,000 |
 Cayman Islands | Securities manager - CIMA | No income tax | CI$5,000/yr, CI$15k resources |
 Seychelles | Securities dealer - FSA | 15%/25% source-based | US$50,000 capital |
Marshall IslandsLicense typeRegistration only
TaxationEntity fees
RequirementsNo investment category
BVILicense typeApproved Manager / Cat 3
TaxationNo income tax
RequirementsUS$400M AUM cap, US$1,000
Cayman IslandsLicense typeSecurities manager - CIMA
TaxationNo income tax
RequirementsCI$5,000/yr, CI$15k resources
SeychellesLicense typeSecurities dealer - FSA
Taxation15%/25% source-based
RequirementsUS$50,000 capital
Before you buy anything
Ten questions to ask any provider.Ten questions for any provider.
If a provider offers a Marshall Islands 'investment' or 'forex' licence, ask these in writing before paying anything.
01
Which statute creates this licence. Name the Act and the section.
02
Which authority issues it, and where is the public register?
03
The Banking Act licenses banking and trust business: which of those is this?
04
Send me a register link showing a current holder of this exact licence.
05
Which clients may I serve under it. EU retail? UK? US?
06
How does it differ from a plain Marshall Islands entity?
07
Which banks have opened accounts for holders of this document?
08
What are my economic-substance obligations under this structure?
09
Who supervises me after issuance, and what do they inspect?
10
Will you put every answer above in writing, on your letterhead?
01
Which Act and section?
02
Which authority, which register?
03
Banking or trust - which?
04
Send the register link.
05
Which clients may I serve?
06
How is it not just an entity?
07
Which banks accepted it?
08
What substance applies?
09
Who supervises after?
10
Will you write this down?
We answer all ten for any jurisdiction we build in, in writing, before you engage us. So should anyone else.We answer all ten in writing. So should anyone.
How it works
From first call to a structure that stands.
01
The working map
What you actually do, where your clients are, and what the Marshall Islands can legitimately contribute.What you do.
02
The licence decision
The regulated jurisdiction chosen on client geography rather than on price.Geography first.
03
Formation and substance
The RMI entity formed and its substance position assessed while the licence file is prepared elsewhere.Substance assessed.
04
Authorisation
The real application run to grant in the jurisdiction that governs your clients.Run to grant.
05
Group live
Licensed entity operating, RMI company in its proper role, substance filings calendared.Filings calendared.
Quick facts
AuthorityBanking Commissioner
FrameworkBanking Act 1987
Banking businessLicensable
Trust company businessLicensable by banks
Provider regimeStatutory definition applies
Investment firm licenceNo standalone category
FormationDays
SubstanceRegulations apply
Where a business genuinely falls inside the financial-services-provider definition, that regime is examined on its own terms. It is not a substitute for a securities licence elsewhere.
On the ground in the Marshall Islands
Run from our Majuro desk.
Prifinance - Marshall Islands
Majuro · Marshall Islands
Majuro, Marshall Islands
01
Sober assessment
What the registry and the Banking Act can and cannot do for your model. Before any invoice.Before the invoice.
02
Clean formation
The entity formed properly, with agent, records and a documented substance position.Substance documented.
03
The real licence
Investment authorisation built where a securities regulator issues one.Where issued.
04
Rescue and migration
Mis-sold certificates read, explained and replaced with a structure that survives diligence.Rebuilt to survive.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Costs and obligations in the Marshall Islands.
Entity economics with a real substance obligation attached, and no investment licence to price.
Formation and annual fees
Registration, registered agent and annual filings. The genuine cost of an RMI entity, and it is modest.Modest and real.
No investment licence fees
None exist, because the category does not. Anything billed as one is a service fee.No such category.
Economic substance regulations
The 2018 regulations impose real obligations by activity. Assessed at formation and filed annually, not discovered later.Assessed, then filed.
No local income taxation for non-resident entities
Non-resident domestic entities are outside local income taxation. Planning therefore lives at owner level.Non-resident entities.
Planning sits above
With no licensed activity here, tax and regulatory planning happen where the group's substance actually is.Where substance is.
Registry efficiency
The real product is speed and reliability of formation, which is worth paying for, described accurately.The actual product.
Cost summary
Entity costsFormation + annual fees
Licence feesNone - no such category
Economic substanceRegulations apply
Local income taxNot for non-resident entities
Planning levelGroup + owner
*Position as of 2026 per the Banking Act 1987 and the economic substance regulations. Substance obligations are assessed per activity at formation.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Marshall Islands entity, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a structure that stands.
Follow Prifinance
Active across our channels.
Marshall Islands · the real route
Build the structure that actually works.
We use the registry for what it is genuinely good at and license where a regulator issues licences - with the difference explained first.
Get a consultation →Free legal opinion
What do you actually need?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Marshall Islands, answered plainly.
Is there an investment licence in the Marshall Islands?+
There is no standalone securities or investment-firm licence. The Banking Act 1987 licenses banking business and permits licensed banks to conduct trust company business, and it establishes a financial-services-provider regime, but no securities commission issues dealer or portfolio-management authorisations here.
What is the financial services provider regime?+
A separate licensing regime under the Act covering entities engaged in domestic financial-institution or cash-dealer activities - a definition that can reach fund managers, financial advisers and investment managers where they meet its statutory terms. It is examined on its own terms and is not an offshore investment licence.
So what is being sold as an RMI investment or forex licence?+
In nearly every case, an entity formation with confident wording. Ask which section of which Act creates the licence and where the register is - the answer settles it.
Is a Marshall Islands company useless then?+
Not at all - the registry is one of the world's most efficient, the entity law is internationally familiar and formation is quick. It is a good corporate instrument. It is simply not a licensed investment firm.
What about economic substance?+
The economic substance regulations impose real obligations depending on the activity carried on, with annual reporting. We assess the position at formation rather than leaving it to be discovered during a bank review.
Where should the investment licence be?+
Where a securities regulator issues one: the BVI or Cayman for funds, the Seychelles for global books, CySEC or a Baltic regulator for EU clients, the DFSA for the Gulf.
Why do banks refuse these structures?+
Because compliance teams match claimed authorisations against statutory categories and public registers. A mismatch ends the application.
I already bought one. What now?+
Bring the documents. We will read them, tell you what you actually own and rebuild the structure around a licence that exists.
Is the Marshall Islands blacklisted?+
It is a functioning jurisdiction with a real registry, a banking statute and substance regulations. The problem is not the country; it is a product sold in its name that its law does not contain.
Why does Prifinance publish this?+
Because a structure that fails its first bank review costs more than the truth does. We would rather build one that stands.
Investment licence?+
No standalone category.
Provider regime?+
Own statutory terms.
What's sold then?+
A formation plus wording.
Company useless?+
No - good instrument.
Substance?+
Real, filed annually.
Where instead?+
A securities regulator.
Why banks refuse?+
Categories are matched.
Already bought?+
Bring it; we rebuild.
Blacklisted?+
No - bad product.
Why publish?+
Truth costs less.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”
Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
“Opening an account with Prifinance in a Swiss bank was such an easy and quick process that I was shocked. It all started with the first call, where I received detailed guidance on the required documents and the entire procedure.One of the key highlights was their attention to detail. As someone who usually gets tangled up in paperwork, I was pleasantly surprised when they sent me all the documents and…”
Google
“I recently had the pleasure of working with Boris.. and I must say, it was a fantastic experience. Boris went above and beyond to assist me with my residency needs. His professionalism, knowledge, and dedication truly stood out. I highly recommend working with Boris and the team!”
Google
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: what you actually need and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Banking Commissioner or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.