Opening a corporate account in Malta will be a beneficial option for companies planning to enter the European or any other international market.
Even in the times of global economic downturn, Malta’s banking sector continued to show its strengths and resilience. Mario Vella, Governor of Central Bank of Malta, in his recent interview describes Malta’s banking system as one of the most sustainable ones in Europe and mentions that core domestic banks have even managed to increase their income in 2020. Their success is attributed to Malta’s robust economic environment, the banks’ high-quality services, customized products, technological innovations, and excellent reputation.
Therefore, we offer you the service of remotely opening a corporate account in Malta with one of the most reputable banks.
However, we have to state it straightforwardly: in order to successfully open a corporate account with a reputable bank in Malta, a company needs to have a real physical presence in this jurisdiction – for example, it may have a branch of an offshore company registered in Malta. Companies registered in jurisdictions with a good reputation, such as Malta, Great Britain, Germany, Italy, and Canada are particularly welcome. However, any of such foreign onshore companies applying for a corporate account in Malta are expected to have an official representative office in Malta.
There are other details applicants for a corporate account in Malta should consider. Our experts at info@offshore-pro.info would be glad to answer your questions and offer you their practical assistance for a set-up fee starting from 3999 EUR.
The bank we recommend for opening a corporate account
Our experts recommend opening a corporate account in Malta with a bank founded over 15 years ago.
In 2005 this bank became a fully licensed Maltese credit institution regulated by the Malta Financial Services Authority (MFSA).Some years later, the bank was acquired and recapitalized by new shareholders – a fund managed by a private British investment firm. In September 2014, the bank was purchased by a subsidiary of an Austrian company, which provided banking services to the Maltese retail and corporate sectors. In a year this parent holding company strengthened its local market presence through other acquisitions. As a result of all the changes, the bank which we recommend has acquired a lot of experience and a very good standing both internationally, and in Malta.
Why do customers choose this bank today?
Clients have always chosen this bank for a number of advantages that are even more important today:
- The bank’s focus: it specializes in corporate lending, forex services, and other products meeting the needs and requirements of any developing company.
- Competence: the bank’s management team includes both international specialists and the best local professionals.
- Reasonable rates and fees: modern services are offered at competitive prices.
- Strict compliance: the bank is a fully licensed Maltese credit institution regulated by the Malta Financial Services Authority (MFSA).
- Reliable foundation: the bank’s financial performance exceeds the minimum regulatory requirements.
- Customized service: the bank executes cost-effective and efficient transactions based on each client’s corporate needs and the advanced quality of customer service.
Services for corporate clients
The bank offers its corporate clients a range of services that are essential for successful business development:
- Cash flow management: different types of accounts and term deposits from 1 month to 5 years at a rate up to 3.25%
- Foreign currency exchange and transfers: currency exchange, local and international payments, longer trading hours and more
- Lending services: full range of credit services, customized solutions, loans in all major currencies.
Cash flow management
The bank gives you the opportunity to choose from a menu of different accounts with attractive interest rates, to use Internet bank and online trading platforms in 24/7 mode, as well as to get access to the full range of corporate banking services.
Current (settlement) account
- available in all major currencies
- no minimum deposit requirement to open a CA
- deposits and withdrawals may be made at any time
- balances on the CA do not earn credit interest
- overdraw not permitted unless prior arrangements have been made
- can be terminated at any time
- no hidden charges.
Liquidity Management Account
- available in EUR, GBP, USD
- interest rates from 0.005% to 0.20%
- is subject to a minimum of 10,000 in the currency of denomination
- interest is credited quarterly
- interest rates vary in line with market conditions and are provided upon request
- interest rates are quoted gross of tax on a per annum basis
- deposits may be made at any time
- withdrawals are subject to 5-15-31 business day prior notice, depending on the subtype of the account
- overdraw not permitted unless prior arrangements have been made
- can be terminated at any time
Savings Account
- available in 16 major currencies
- interest is credited every six (6) months in June and December
- interest rates will vary in line with market conditions and are provided upon request
- deposits and withdrawals may be made at any time subject to a five day prior notice
- same day value payments allowed
- overdraw not permitted unless prior arrangements have been made
- can be terminated at any time
- no hidden charges.
Me Savings Account
- available in EUR and GBP
- interest rates from 0.20% to 0.80%
- no minimum deposit requirement to open a MeSA
- interest is credited every six (6) months in June and December
- interest rates will vary in line with market conditions and are provided upon request
- interest rates are quoted gross of tax on a per annum basis
- deposits and withdrawals may be made at any time subject to a five-day advance notice
- overdraw not permitted unless prior arrangements have been made with us
- can be terminated at any time
- no hidden charges.
Fixed Term Deposit Account
- is available in EUR, GBP, USD, AUD
- interest rates from 0.10% to 1.50%
- the guaranteed interest rate for the entire term
- the minimum balance required in respect of a FTDA is five thousand (5,000) in the currency of denomination
- the client can choose to have interest paid monthly, quarterly, bi-annually or annually
- the interest rate is fixed for the full period of the FTDA at the rate prevailing on the date of receipt of cleared funds
- interest rates are quoted gross of tax on a per annum basis
- withdrawals may be made only upon maturity of the account, and early withdrawals are not permitted
- no hidden charges.
Foreign currency exchange and transfers
Do you need to make payment in foreign currency to your supplier abroad? Receive funds in foreign currency from third parties? Manage your cash flows in different currencies? The bank will help you perform all necessary operations related to foreign currency exchange and international payments.
Foreign exchange
Currency exchange services at the recommended bank are part of the following operations:
- the exchange at competitive exchange rates
- online FX transfers and payments
- rate watch service
- FX forward contracts
Payments settlements
The bank offers the following opportunities:
- multicurrency payments through SEPA and SWIFT
- instructed through online or offline banking solutions
- same day value or standard value
- set-up standing orders
Internet banking
Online banking involves:
- accounts summary including pending approvals
- local and international payments
- notional pooling
- account sweeping.
Investment services
The relevant services rendered by the bank include:
- free custody service for clients’ holdings
- wide range of investment products
- low execution fees
- powerful tools to research the best investment opportunities
Lending services
The recommended bank offers a full range of lending services for small and medium-sized enterprises in Malta, including:
- custom built and innovative financing solutions
- competitively priced lending in all major currencies
- comprehensive solutions for the capital market, including bond financing in the local market.
How to open a corporate account in Malta?
In order to open a corporate account with the recommended bank in Malta, you need to do the following:
- Submit your account opening application by e-mail to info@offshore-pro.info.
- Pay for our experts’ professional assistance in opening a corporate account in Malta remotely with the bank best suited to your needs. The payment can be made by bank transaction, card, PayPal, WebMoney, or Western Union.
- Prepare the necessary documents.
Our fees for the services of setting up your corporate account in Malta:
- 3999 EUR – for companies registered via Offshore Pro Group
- 4999 EUR –for other companies.
Documents required to open a corporate account in Malta
On behalf of each director, account signatory and shareholder (holding at least 20% of the company shares):
- Notarized copy of each passport or ID-card
- Notarized copy of the public utility bill (issued not earlier than 6 months prior to the submission)
- Recommendation letter from the bank
Note: It would be best to submit to the bank a letter stating clearly that the person has been known to the recommending bank for at least one year. If the person concerned is subject to the financial services regulator in a reputable jurisdiction, which carries out appropriate audits, then the recommendation letter can be replaced with a copy of the license/permit.
- Other supporting documents regarding the source of funds (a CV is sufficient).
Corporate documents:
- The notarized copy of the Certificate of Incorporation
- The notarized copy of the Articles and Memorandum of Association or By-Laws
- The original or notarized copy of the Certificate of Good Standing or Certificate of Incumbency.
Note: these documents must be no older than 6 months and contain the following information: name, registration number of the company, registered office address, names of directors, legal representatives, shareholders of the company, description of commercial activity of the company.
- In the case of a particularly complex organization, documents confirming the relationship between the company, shareholders and ultimate beneficial owners are required.
Foreign individuals and entities may be required to provide other or additional documents, depending on the jurisdiction. In some cases, it may be necessary for documents to be apostilled. If an apostille is required but not available in the relevant jurisdiction, the relevant embassy/consulate may be able to certify the apostille.
To learn more about the possibility of opening a corporate account in Malta, as well as to start the account opening procedure, please e-mail: info@offshore-pro.info.
