Opening of Malta Bank and Payment Accounts

The advent of licensed local and international payment institutions has partially reduced the pressure and start-ups, and small and middle-sized businesses can turn to such payment institutions to facilitate their trading activities. Businesses wanting a local bank account for their Malta Companies must ensure that their business has adequate substance in Malta. The operation of a place of business together with a work force based in Malta are key requisites for local banks to consider the opening of bank account. Moreover, it is important for businesses to provide detailed information with regards to their trading/holding activities; detailed inflows and outflows coupled with the geographical regions in which their business will be trading/holding its activities/assets; a detailed organizational structure; and full disclosure of the source of wealth of the Beneficial Owners of the structure/s.

GVZH provides the necessary guidance throughout the application process for the opening of bank and payment accounts in Malta. Apart from the local banks, GVZH Trustees also works with both local and foreign accredited and licensed payment institutions who can provide IBAN accounts.

For more information with regards to the opening of bank accounts or financial institution accounts, please forward your enquiry to corporate@gvzh.mt