Open a Bank Account in Malta

Open a Bank Account in MaltaThe conditions for obtaining a bank account in Malta are regulated by the State Central Bank. Due to the fact that the state is part of the European Union, generally accepted European conditions for issuing a bank account to non-residents apply in Malta.

Residents of the country, students, non-resident students, foreigners temporarily staying in the territory of the state, private entrepreneurs and foreign corporations can open an account in one of the local credit and financial institutions.

For Individuals

Any individual can get a bank account in Malta. At the same time, he will need to provide the following set of documents:

  • Identification documents;
  • Residence permit (lease or ownership agreement of housing, utility bills);
  • Extract from previous banks, credit history;
  • Income statement;
  • Certificate from the place of work.

Non-residents will also need a residence permit to register. In some cases, at the request of the manager, additional documents may be required, for example, a certificate of no criminal record in the country of citizenship of a non-resident.

For Legal Entities

According to local legislation, both resident businessmen and companies with foreign capital can do business in Malta. At the same time, regardless of registration, corporations are required to pay income tax to the state treasury. It is most convenient to do this by means of “manual” or automatic debiting of funds from a bank account.

In order to open an account, you will need to provide the following documents:

  • Certificate of registration;
  • Company income statement;
  • Identification documents of founders and shareholders;
  • Personal documents of an employee of the corporation, whose duties will include managing the corporate account;
  • An extract from the previous bank.

It should be borne in mind that the requirements for opening an account of each bank vary, as a result of which the list of necessary documents may include additional requirements.

Types of Accounts


It is open for individuals to the local population and foreigners. A debit card is linked to the account for making non-cash payments.


It can be open to an individual or a legal entity. The amount of the fee for the use of bank funds depends on the loan amount and its repayment terms.


It has high interest rates. The profit on the invested funds is accrued only if the money is not withdrawn from the account before the date specified in the contract.

Savings account

In comparison with many banks in Europe, Maltese credit and financial institutions are characterized by lower rates for saving funds.


It is intended for accumulation and preservation of the company’s profit, as well as for payment of taxes, transfer of wages, Settlements with counterparties, etc. Only companies operating in accordance with local laws can open a corporate account in Malta.


It is used to conduct international business, reduce costs due to the absence of tax fees and save money at favourable rates.

Advantages of Owning a Bank Account in Malta

  • Absence of strict requirements for registration of an account by non-residents;
  • A stable economic and political system that ensures the stability of the banking sector to the adverse challenges of the global economy;
  • Full range of banking services;
  • Many agreements to prevent double taxation;
  • Service in English;

Joining the EU ensures free trade with EU countries.

Popular Maltese Banks

APS Bank is one of the oldest and most popular credit and financial institutions in Malta. Provides a full range of banking services for the local population and foreigners. It is characterized by loyalty to customers and affordable tariffs.

Bank of Valletta is considered one of the most profitable banks in Malta. Among the local population, it is characterized as a bank with low tariff rates and high interest rates on deposit.

BANIF Bank – registers current and savings accounts for individuals, businessmen, and investment accounts (including for international companies). The Bank is characterized by high standards of service and the use of innovative methods of banking.

Lombard Bank is characterized by high popularity due to the provision of credit accounts to novice businessmen. In addition, it provides a full range of banking services in the country.

Sparkasse Bank Malta is considered one of the most resilient banks to the challenges of the global economy. Provides comprehensive banking services for local residents and foreigners. Among the features of SBM is the ability to open a bank account in Malta on individual terms.

Assistance in Opening a Bank Account

Preparation of documents for registration of a bank account in one of the Maltese banks is only half of all procedures. In addition, you will need to be present at the representative office of a credit and financial institution or meet with a manager.

If you wish to open a business bank account in Malta, our team here at IB-IA GROUP UAB will be delighted to assist you. We have eight years of experience in helping clients to open bank accounts in Europe. We tap into our vast network of trusted partners in the European financial services industry to offer the most suitable and cost-effective solutions that improve the functioning of the businesses we serve.