Wilfred Sammut
Banking Manager
- Bank Account
Setup
Bank Account Opening
A working bank account is the foundation for any business or personal activity in Malta. Without one, nothing moves: no invoices, no payroll, no day-to-day operations. We guide you through the entire opening process – from choosing the right bank to your first transaction.
Maltese banks set a high bar for new account holders. Strict KYC and AML regulations, extensive documentation requirements, and a general reluctance towards non-residents make opening an account one of the most time-consuming steps when setting up in Malta. Many business owners underestimate this – and end up with a fully incorporated company that cannot actually operate.
Malta's banking landscape broadly splits into two categories. Traditional banks like Bank of Valletta (BOV) offer full-service banking but come with longer processing times and heavier documentation demands. Then there are E-Money Institutions (EMIs) and international payment providers, which open faster but may be more limited in what they offer. The right fit depends on your situation, your business model, and what you actually need.
DW&P knows every bank in Malta inside out. We know which documents are needed, in what format, and when they are due. We know which business models get a green light at which bank – and which ones do not. Through our direct banking contacts, we cut waiting times and avoid the rejections that unassisted applications so often run into.
Services
- Needs analysis and bank selection
- We review your business model, transaction volumes, and requirements, then recommend the right bank or payment provider for your situation.
- Document preparation
- Compilation and review of all required paperwork – from company documents and business plans through to personal identification and bank reference letters.
- Pre-submission compliance review
- We make sure your application meets the KYC/AML requirements of your chosen bank before it goes in. That means fewer follow-up queries and fewer delays.
- Application submission and bank liaison
- Submission of the complete application and direct coordination with the bank on any follow-up questions or additional requirements.
- In-person appointment coordination
- Most banks in Malta require you to attend in person for account opening. We arrange the appointment and prepare you for the meeting.
- Alternative solutions if declined
- If a bank turns down your application, we quickly identify an alternative – whether that is another local bank or an international EMI.
- Personal and business account opening
- We handle both corporate account opening for your Malta company and personal accounts for you and your family.
- Post-opening support
- Assistance with setting up online banking, ordering cards, and taking the first operational steps once your account is live.
Who benefits
- Business owners who need a corporate account for their newly formed Malta company
- Individuals opening a personal bank account as part of their relocation to Malta
- High-net-worth individuals (HNWI) who need a separate account for their Maltese asset structure
- Shareholders and directors who want to open an account in Malta as non-residents
- Companies with specific requirements around payment processing, multi-currency accounts, or international banking
- Clients who have already been rejected and are looking for an alternative banking solution
Why DW&P
- Direct banking contacts: We have worked with Malta's key banks and payment providers for years. That gives you a noticeably faster and smoother process.
- Deep experience since 2013: We know the requirements, the most common stumbling blocks, and the current processing times at every bank from first-hand experience.
- International client expertise: We understand the specific situation expat clients face – existing banking relationships back home, source of funds documentation, and what Maltese banks scrutinise most closely when dealing with non-resident applicants.
- Honest advice: Not every bank suits every business model. We tell you upfront where your application has a strong chance – and where it does not.
- End-to-end support: From needs analysis right through to active account use. No hand-offs to third parties, no information lost along the way.
- Part of the bigger picture: As a firm offering the full Malta service portfolio, we coordinate your account opening with your company formation, relocation, and tax structuring – everything under one roof.
Bank Account Opening – Our capabilities
Needs analysis and bank selection
Tailored bank recommendation based on your business model
Document preparation and compliance check
Compilation and review of all required paperwork before submission
Application submission
Complete submission and direct communication with the bank
In-person appointment coordination
Organisation and preparation for your bank meeting in Malta
Business accounts for Malta companies
Account opening for operating companies and holding structures
Personal accounts for individuals and families
Personal bank accounts for your relocation and everyday life in Malta
Alternative solutions if declined
Rapid identification of alternatives for rejected applications
Online banking setup and card management
Support with activation and first operational steps
Need a bank account in Malta – business or personal?
Book a consultation
Bank Account Opening – How it works
- 01
Initial consultation (free of charge)
We discuss your situation: business model, account type (personal or corporate), expected transaction volumes, and any special requirements. On that basis, we recommend the right bank.
- 02
Document preparation
We create a tailored checklist, review your paperwork, and prepare the application. Any missing documents – bank reference letters, business descriptions – we source or draft together with you.
- 03
Pre-submission compliance review
Before the application goes in, we check it against the specific KYC/AML requirements of your chosen bank. This avoids follow-up requests and delays.
- 04
Application submission and bank liaison
We submit the application and handle all communication with the bank. If questions come back, we respond directly – you do not need to worry about a thing.
- 05
In-person appointment
For the face-to-face meeting at the bank, we coordinate the date and time and prepare you for the conversation. Where possible, we align it with the same Malta visit as other necessary appointments.
- 06
Account activation and setup
Once the account is successfully opened, we help you set up online banking, order debit cards, and take the first operational steps.
Bank Account Opening – Your contacts
Horst Wickinghoff
Senior New Business Manager
- Bank Account
- Company Formation
FAQ
How long does it take to open a bank account in Malta?
It depends on the bank. With traditional banks like BOV, expect 4 to 8 weeks from submitting a complete application. EMIs and international payment providers can sometimes open within 1 to 2 weeks. Timelines stretch out if documents need to be resubmitted.
Do I need to be physically present in Malta?
In most cases, yes. The majority of Maltese banks require at least one in-person appointment for identity verification. We schedule this so it lines up with other commitments on the island – a notary appointment for company formation, for instance.
Can I open an account in Malta as a non-resident?
In principle, yes – but the bar is higher. Not all banks accept non-residents, and the documentation requirements are more extensive. We identify the banks that are right for your particular situation.
What is the difference between a local bank and an EMI?
Local banks such as BOV offer the full range: IBAN, transfers, credit facilities, and deposit protection. EMIs like Wise Business or Revolut Business are faster to open and often cheaper for payments, but they do not offer traditional lending. Some EMIs such as Wise do not offer deposit protection either. Others, like Revolut, now hold a full EU banking licence with deposit guarantee up to EUR 100,000. Depending on your business model, a combination of both can make sense.
What happens if my application is rejected?
Rejections happen – particularly with business models that banks consider higher risk, such as e-commerce or crypto. When that occurs, we present you with alternatives: a different local bank, an international payment provider, or a revised application approach.
What documents do I need?
Requirements vary by bank and account type. Typically you will need: company documents (Articles of Association, Certificate of Incorporation, UBO declaration), personal identification for all authorised signatories, a business plan or description of your business model, proof of source of funds, and in many cases a reference letter from your current bank.
Client Voices
What trust looks like in practice.
Cross-Border Expertise
Carl Albrecht WaldsteinTranslatedGoogle Review
Articles on Bank Account Opening
All articles
Malta Merges Its Tax Programmes for New Residents: What the Individual Tax Programme Changes from 2027
Malta is merging four special tax regimes for new residents into one. The 15% rate stays, but the minimum tax rises to as much as EUR 35,000. Here is what needs deciding before 31 December 2026.
Read more
Germany's exit tax: the latest developments
Germany's exit tax has widened - ETFs and funds are now caught, and EU moves have lost their permanent deferral. Here is where things stand, and what a move to Malta really involves.
Horst Wickinghoff
Updating the Malta Business Registry
Which company changes must be reported to the Malta Business Registry, through which forms, and within what deadlines - and what happens if you miss them.
Read more