Opening a bank account

Documentation required in Malta

Opening a bank account

Opening a bank account in Malta is usually a simple process if you meet the terms and conditions that are expected from you. Bank accounts are not confined to solely Maltese residents. Non residents and foreign companies can also open an account in Malta.

Resident and non-resident bank accounts are available in Malta with telephone, internet and mobile banking facilities. You must provide some documentation to open an account. You need a copy of your passport and a utility bill proving your address. You also must present a reference from a bank that you currently hold an account with. This reference must prove that you are debt free and have a good credit rating.

If you do not answer these recommendations, you may find it difficult to open a bank account in Malta. If you have a history of debt or have been declared bankrupt, the Maltese bank may insist that you are a resident of Malta for a certain period of time before you are allowed to open an account. You may also be refused point blank.

Foreign companies can also open a bank account in Malta. This means you get favourable interest rates and can open the account in the currency you wish. Foreign business accounts also offer no exchange control regulations. To open a foreign company bank account, you will need to provide:

  • A reference from a bank you currently hold an account with (for each beneficiary of the business)
  • Copy of passport (for each beneficiary, shareholder, director etc)
  • Copy of company’s incorporation documents
  • Certificate of good standing for company
  • Utility bill (for each beneficiary, shareholder, director etc)

Once you have successfully opened your Maltese bank account, your card and pin number will arrive via post to your home residence. You will also receive documentation describing the terms and conditions of your account and the option of insurance.

Further reading

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