Bank Accounts In Malta
When opening a bank account for a limited liability company, a bank would typically ask for the following documents. This information is being provided for guidance purposes only and every bank may have its own account opening procedures which may vary from what is being indicated hereunder:
1. A duly filled in Know-Your-Client (‘KYC’) form.
2. A completed request to open an account specifying the type of account, the currency and the preferred mode of payment of tax.
3. A Copy of the Memorandum and Articles of Association together with a certified copy of the Certificate of Registration issued by the Registry of Companies once the company is registered. The bank may also require a description of the activities of the company and the past and anticipated turnover thereof.
4. A Confirmation of the permanent address of the Directors through a completed identification statement certified by a Prime bank or Maltese Embassy in the country of residence. The bank also requires the authenticated identification documents for all the directors, signatories, beneficial owners and secretaries. An original copy of a utility bill to be certified by the bank may also be required.
5. Bankers' references on all foreign directors, foreign signatories, beneficial owners. The references should be issued in the personal capacity and should be addressed to the bank otherwise the bank will reserve the right to re-confirm the references with the said institutions.
6. Where the shareholder is a trustee or other fiduciary, the bank will require the disclosure of the identity of the beneficial owners accompanied by an authenticated copy of the beneficiary’s passport.
7. Where the ultimate beneficial owner is a listed company, the bank will require a declaration to this effect from the company secretary.
Malta companies may hold bank accounts in Malta or elsewhere. We enjoy very healthy banking relationships with the main banks in Malta, including major international banks. Cheque books and credit / debit cards are availability in a wide choice of currencies. Resident and non-resident bank accounts are available with comprehensive telephone, internet and mobile banking facilities are available. International commercial and trading finance facilities are excellent.
We offer Bank accounts with banks in the following jurisdictions:
As intermediaries to the leading banks in Malta and of the above banks, we can introduce you to any Maltese bank and provide assistance with the opening of resident and non-resident offshore bank accounts in Malta.
Benefits of banking in Malta
Generally, bank accounts in Malta enjoy the following facilities:
• Cheque book facility;
• Credit card facilities in various currencies;
• No tax or withholding tax on interests paid to non-resident account holders;
• No exchange control regulations;
• Bank accounts can be opened in all currencies.