Open a Bank Account in Malta - 2021 Guide
Open a Bank Account in MaltaUpdated on Friday 03rd September 2021
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Opening a bank account in Malta in 2021
- a passport or identification papers;
- an application form issued by the bank;
- a recent utility bill;
- a bank reference.
Setting up a corporate bank account in Malta
- copies after the passports or IDs of each shareholder and manager;
- copy after the company’s statutory documents;
- a company’s certificate of good standing;
- bank references for the shareholders and the company;
- utility bills stating the Maltese addresses of each shareholder and director.
Provisions of the Maltese Banking Law
- the supervisory activities of the MFSA;
- licensing of banking institutions in Malta;
- the opening of branch and representative offices of foreign banks;
- the governance of financial institutions;
- capital requirements;
- the activities that cannot be carried out by banks in Malta.
Documents Required for Opening a Maltese Bank Account
- certificate of registration;
- memorandum and articles of the underlying shareholders;
- identity documents (passports) of the owners of the company;
- bank references, containing all the shareholders and directors of the company;
- completion of bank opening forms.
Banking services in Malta
- the bank account can be opened in the national currency of Malta or in a requested foreign currency;
- the account can offer services such as transfer, payments deposits, letters of credit and other banking instruments the company needs;
- cheque book instruments;
- credit card services, which are offered in special conditions;
- internet banking services.
Information about banks in Malta
The bank structure in Malta
- core domestic banks which are universal banks with a wide range of services, operating through a branch network in the country’s main cities;
- non-core domestic banks which offer a limited area of banking services for residents and foreigners;
- the international banks which mostly deal with foreign customers or businesses outside borders of Malta.
Important banks in Malta
Frequently Asked Questions
Making investments in Malta
- Malta has the highest GDP in the world, of 1425%.
- The total FDI for Malta in 2019 was approximately USD 206 billion.
- Around USD 309 million was the total value for greenfield investments in Malta in 2019.