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Malta is an EU Member State with an Exceptionally Advantageous Tax Regime

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Opening of Bank Accounts in Malta

Malta has a fastly-growing banking industry with, as of March 2011, 25 licence holders, offering bespoke corporate, merchant and individual solutions.   With the increase of the financial services industry in Malta, many banks now also offer specialised niches such as wealth management, trusts services and private banking. 
The implemention of the Alternative Investment Fund Managers Directive (AIFMD) in 2013 should be preceded by an increase in the number of custodian licences applications submitted by banking institutions wishing to immerse themselves further in the thriving financial service industry, which as of March 2011 has yielded over 400 licensed funds.  In the remote gaming and ICT industry, retail banks also offer merchant account solutions through accredited and reputable payment gateways.

The Maltese Companies Act does not allow for the issuance of bearer shares.  Consequently,  there are no restrictions for a Maltese registered company to open a bank account in Malta.  Importantly, there are no statutory restrictions whereby Maltese companies must open a bank account solely with locally licensed banking institutions.  Maltese companies can open bank accounts in any jurisidiction (onshore and offshore).  This ensures maximum flexibility to the promoters of the company, and also a healthy diversification of banking products and alternatives.  Even the share capital of a Maltese company may be deposited with any bank (local or overseas).  The registrar of company shall not refuse the incorporation of a company, insofar that documentary evidence of the remittance of  the share capital by means of a bank letter, bank slip or equivalent document may be presented.  Even in licensable activities such as remote gaming and financial services, the respective regulators shall allow for the opening of bank accounts in any reputable jurisdiction, EEA or otherwise.

At Focus Business Services we realise that efficient banking solutions are the cornerstones of a successful business.  We pride ourselves at providing a holistic solution to clients, which includes the opening of bank accounts, both for individual and/or corporate clients.  We can assist clients in expediting the opening of bank accounts with all local retail banks.  Furthermore, our depth and expertise in several jurisidictions, including the UK, Cyprus, Greece and the Seychelles allows us to provide a number of alternative banking solutions, bespoke to clients needs, as corroborated by the bank references issued by some of the major banks as evidence of our group’s unblemished reputation.  We can assist you n the opening of a bank account, even if you are not resident nor domiciled in Malta, and you wish to have a temporary or secondary banking solution.

The opening of a bank account is also important for compliance with the ongoing requirements of the Permanent Residence Scheme,  as permanent residents must furnish evidence of their remittance of the statutory allowance in Malta, via a bank account.  Furthermore, the opening of a bank account in Malta is also important for tax planning reasons.  In the case of corporate entities, the opening of a bank account constitutes additional evidence that the company’s effective management and control is being exercised in and from Malta.  In the case of individuals, the opening of a bank account may point at the establishment of residence or domicile in that particular jurisdiction, with potentially important fiscal consequences.

Presenting clients with a vast array of banking solutions  is particularly important, in times when confidentiality and professional services have become fundamental requisites for high net worth individuals and body corporates alike.

Contact one of our officers to initiate the opening of a bank account in Malta or any other jurisdiction.  Simply fill in this contact box below or contact us by email on enquiries@fbsmalta.com

We are committed to providing you with a swift solution best suited to your needs.

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