Opening of Malta Bank and Payment Accounts

Opening of Malta Bank and Payment Accounts

Malta has traditionally held a strong and liquid banking sector, yet the banking industry in Malta is in dire need of new players. The de-risking exercise undergone by a number of local and international banks has resulted in a gap within the industry, and start-up and small and medium sized businesses are finding it challenging to open local bank 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

Get in touch with us

    Subject *

    Full Name *

    Company Name

    Email Address *

    Phone Number *

    Message *