How to open Business Bank Account in Malta? Best Malta Banks

Open Business Bank Account in Malta

Opening a Business Bank Account in Malta

We can assist you to open your bank account in Malta!

To operate a business all companies require a bank account. This is usually set up in the initial stages of the company establishment. Companies require a bank account from the very beginning as the founders need to deposit the share capital in the business account. With a business account, the company can not only conduct transactions, make and receive payments but also have a running record of the company’s financial dealings. This is true for companies across the globe including Maltese companies

Choosing a Maltese Bank Account

When you open a bank account in Malta choose a bank that offers a full range of banking services that cater to your company’s specific needs. You will need access to international currencies; safe online banking; low fees and efficient customer service. There are 29 MFSA-approved Maltese credit institutions to choose from. Banks in Malta conform to the banking rules and regulations of EU directives.

Open a business bank account Malta

Banks in Malta offer almost all the required facilities business needs. In choosing which bank, you need to pay attention to the individual banks’ own set of financial requirements, such as minimum initial deposit, credit rules, etc. Business checking accounts usually come with credit cards, and overdraft limits can be negotiated. Existing businesses must provide full documentation of activity prior to opening the new account, but for a start-up business account, the focus is on the owners and shareholders, who must provide identification documentation. In any case, the bank can request whatever documentation it requires. In most banks, the initial set-up phase can be handled completely online, and once the bank has agreed to accept the request, the account can become fully functional as soon as the initial agreed deposit of funds has been completed.

The best bank for business banking online for a Maltese company

There are presently 23 licensed banks in Malta, plus three branches of foreign banks. The Malta Financial Services Authority (MFSA) is the country’s regulator, responsible for supervising credit and financial institutions and issuing licenses. Over the past few years, we have gathered experience in which are the easiest banks to work with, and already have good relationships with many of the leading banks, so we can help you choose the right bank to match your specific requirements, and then set up the account.
Among our favorite choices are Bank of Valletta, the country’s largest and oldest bank, with branches all over the island and representative offices overseas. We also work with HSBC Malta, with about 65 branches across Malta. HSBC is one of the “top-five” international banks. Sparkasse Bank Malta is also part of an international group based in Germany, giving it a good profile for security and depth of services for EU operations.

Apply for a Bank Account in Malta

For Individuals and Companies

What Documents will you Need to Open a Business Bank Account in Malta?

To open a private bank account you will need:

Passport
Proof of address, e.g. utilities bill.
Reference from your previous bank.
Proof that you are debt free.

To open a business bank account you will need:

Details of your shareholders, directors and beneficial owners, e.g. utilities, passport
Company documentation, e.g. registration, business plan etc.
KYC and due diligence.
Reference from your present bank.
And any other additional documentation that the bank may see fit to request.

Advantages of a Maltese Business Bank Account With a business bank account in Malta you will have access to telephone, mobile and Internet banking services; favorable interest rates; no exchange control regulations and an account in any currency you choose.

Open Business Bank Account in Malta

For International Business, European companies, eCommerce and online activities.

Get an Offer

Best Malta Banks for International companies

Bank of Valletta serves Maltese customers and has about 100 ATMs and branches across the island nation and reprehensive offices in Libya, Italy, Belgium and Australia. They are the country’s largest and oldest bank. If you have a checking account with the Bank of Valletta you can send and receive funds, make deposits and withdrawals and track your balance on your mobile, online or at the ATMs.

HSBC Malta is part of a large international bank with about 65 branches across Malta. Their different types of accounts are determined by the size of your deposit and the banking services you require. The HSBC Advance Account comes with no monthly fees, free internet and phone banking, no minimum balance and an international debit card.

Sparkasse Bank Malta is also part of an international group based in Germany and their presence in Malta is not that wide spread. Sparkasse’s international operations make many businesses in Malta opt for this bank. With a Sparkasse account you can set standing orders, conduct online banking, have a debit card, multi-currency account and secure banking.

Who Can Open a Business Bank Account in Malta

Malta residents can open accounts at Maltese banks and under certain conditions non-residents and foreign companies can open business accounts in Malta. Although Malta banks accept non-EU nationals they may make the application requirements stricter. If you present the required documentation the onboarding process is straightforward. The bank may insist that you are a resident of Malta for a certain period before you can open your Maltese account. As many of the banks in Malta are international (Sparkasse, HSBC etc.) you can even open your Malta bank account before you leave your home country. This kind of business bank account is useful to specific industries in particular including financial companies, ecommerce, affiliations and gaming.

Opening a Malta bank Account from Abroad

If your credit rate is good and you are not in major debt you should have no problem opening a Malta bank account from outside the country. However if you have ever been declared bankrupt or if you have a history of debt the process will be harder but not impossible. With a questionable financial history the Maltese bank may ask you to become a Malta resident for a certain period before you can open an account and they may limit you to a current account or checking account.

Malta Gaming Authority

The Malta Gaming Authority (MGA) is the gaming control board for Malta (formerly called the Lotteries and Gaming Authority) that regulates gaming in Malta including land-based and online gaming including B2C and B2B services. Their main function is to promote responsible gaming; protect minors and vulnerable individuals from the dangers of gambling; issue gaming licenses; protect player funds; ensure the integrity of gaming devices via audits and testing for randomness; monitoring compliance of license holders; regulate and provide guidance through all the stages of the license application process.

Opening a Business Bank Account in Malta

We can assist you to open your bank account in Malta!

To operate a business all companies require a bank account. This is usually set up in the initial stages of the company establishment. Companies require a bank account from the very beginning as the founders need to deposit the share capital in the business account. With a business account the company can not only conduct transactions, make and receive payments but also have a running record of the company’s financial dealings. This is true for companies across the globe including Maltese companies

Choosing a Maltese Bank Account

Apply for a Bank Account in Malta

For Individuals and Companies

What Documents will you Need to Open a Business Bank Account in Malta?

To open a private bank account you will need:

Passport
Proof of address, e.g. utilities bill.
Reference from your previous bank.
Proof that you are debt free.

To open a business bank account you will need:

Details of your shareholders, directors and beneficial owners, e.g. utilities, passport
Company documentation, e.g. registration, business plan etc.
KYC and due diligence.
Reference from your present bank.
And any other additional documentation that the bank may see fit to request.

Advantages of a Maltese Business Bank Account With a business bank account in Malta you will have access to telephone, mobile and Internet banking services; favorable interest rates; no exchange control regulations and an account in any currency you choose.

Open Business Bank Account in Malta

For International Business, European companies, eCommerce and online activities.

Get an Offer

Best Malta Banks for International companies

Who Can Open a Business Bank Account in Malta

Opening a Malta bank Account from Abroad

If your credit rate is good and you are not in major debt you should have no problem opening a Malta bank account from outside the country. However if you have ever been declared bankrupt or if you have a history of debt the process will be harder but not impossible. With a questionable financial history the Maltese bank may ask you to become a Malta resident for a certain period before you can open an account and they may limit you to a current account or checking account.

Malta Gaming Authority

The Malta Gaming Authority (MGA) is the gaming control board for Malta (formerly called the Lotteries and Gaming Authority) that regulates gaming in Malta including land-based and online gaming including B2C and B2B services. Their main function is to promote responsible gaming; protect minors and vulnerable individuals from the dangers of gambling; issue gaming licenses; protect player funds; ensure the integrity of gaming devices via audits and testing for randomness; monitoring compliance of license holders; regulate and provide guidance through all the stages of the license application process.

Our team will be happy to assist you to form most suitable corporate, banking structure and gaming licensing needs for you throughout our wide network of banks, payment processors and gaming regulators

Contact details

GBO International Financial Services LTD | Corporate Services | 65 Igal Alon st, Tel Aviv, Israel

Call Us Today: +972-3-5104257 gbointernational | [email protected] | LinkedIn

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