Bank account opening Hereunder you'll find an overview of the Maltese banks and their system, useful info since we need a current bank account.
Individuals and Companies, residents or not resident in Malta may have multiple bank accounts in choosing any currency or having multiple currencies with one or more banks in Malta.
With regards a Malta company may also have multiple bank accounts in multiple currencies, with both local and foreign banks. It is however advisable to own a bank account with a Maltese bank considering the high level of efficiency and the excellent reputation of the Malta’s Banking System.
This is very well proved by the number of banking institutions that have established their banking operations in Malta offering highly specialized services including factoring and trade finance.
The sector is highly competitive and local banks are constantly investing in high quality level of their services to meet clients’ demands and expectations.
The larger banks provide high technologic services, each signatories will receive access to online banking services using innovative systems to conventional telephone support. Facilities as Cheque book and debit and credit card, very competitive interests rate on terms deposits and much more are available on demand.
Markit cooperates with many banks in Malta, from large to medium groups, passing to the financial niches.
Markit Business Solutions is therefore able to guide you in choosing the banking group that best fits your needs not only for the service but also for the opening process of the business or personal accounts assisting you with related preparation and submission of bank account opening formalities.
FURTHER DOCUMENTATION REQUIRED FROM FOREIGN NATIONALS NEW IN MALTA
It is necessary to prove what kind of connection you have with Malta in order to be eligible to open an account, therefore over and above the personal due diligence you will need the following documentation if you qualify with one of the following eligibility criteria:
Renting a property in Malta – A valid rental agreement of at least six months
Buying a property in Malta – Preliminary agreement
Owning a property – contract of purchase
Working – Contract of Work which must bear the employer’s name and address
Owning a Company - M&A and Certificate of Incorporation
Engaging professionals - Engagement letter and Service Agreement