Starting a company in The Gambia is an exciting step, but getting the financial side sorted is where the real groundwork begins. One of the first practical things you need? A proper corporate bank account. This guide walks you through the process in a deeply human, step-by-step way—because it’s not just paperwork; it’s the financial foundation of your business.
Start with the business registration
Before walking into a bank, your company needs to be real on paper. That means registering with The Gambia’s Registrar of Companies, which falls under the Ministry of Justice. Whether you’re a sole proprietorship, partnership, or a full-on limited liability company, your business must be legally recognized.
You’ll need a unique business name, and that means checking its availability, reserving it, and then completing the actual registration. Once you’ve got that certificate of incorporation in hand, things can start to move.
Gather the right documents
This part matters more than anything. Banks in The Gambia aren’t going to open an account unless everything is perfectly lined up. Here’s what you’ll typically need:
- Certificate of Incorporation
- Memorandum and Articles of Association
- Business Registration Certificate
- TIN Certificate (Tax Identification Number)
- Valid ID copies of all directors and signatories
- Passport-sized photos
- Resolution to open a bank account (signed by the board or directors)
- Proof of business address (utility bill or tenancy agreement)
Different banks might tweak the list slightly, but this is the baseline. Get these in order first. There’s no shortcut here, and being meticulous now saves you weeks later.
Choosing the right bank
The Gambia has a mix of local and international banks—Trust Bank, ECOBANK, GTBank, Standard Chartered, and more. This part is more than just a “who’s nearby” decision. Every bank has its own vibe, customer service approach, and fee structures. Some have better online platforms, others have smoother processes for foreign currency transactions.
Take a bit of time here. Walk into the branches. Talk to real people. Look them in the eye. You’re about to trust them with your company’s money. That means something important to you and your company.
The account opening process
Once you’ve chosen a bank and walked in with your full document set, things get real. You’ll fill out the corporate account opening forms. These aren’t complicated but don’t rush. Review every line. Ask for clarity if anything’s vague.
The bank will then review your documents. This can take anywhere from a few days to a couple of weeks, depending on the bank’s internal checks. Patience helps, but don’t hesitate to follow up politely. Sometimes a gentle nudge keeps things from slipping through the cracks.
Minimum deposit requirements
Some banks require an opening deposit—others don’t. If they do, it could be anything from GMD 2,500 to GMD 10,000 or more. Again, it varies. This is why you should never skip asking questions when choosing the bank. Know what you’re walking into.
Know your compliance obligations
Once your account is open, the relationship with the bank doesn’t end—it begins. The Gambia, like many countries, has anti-money laundering (AML) and Know Your Customer (KYC) regulations. This means you’ll need to stay compliant, submit annual documents, and explain large or unusual transactions.
Final thoughts
Opening a corporate bank account in The Gambia isn’t hard—but it’s not something you do half-heartedly. It takes attention, intention, and a bit of resilience. But once it’s done, the weight lifts. Suddenly your business has a place to receive funds, pay suppliers, and grow.
You may also find these articles helpful
Types of legal business structures in the Gambia
Guide on Company Registration in the Gambia
Guide on Company Registration in Gabon
