​5 benefits of opening a Maltese bank account with Immigrant Invest

  • 1

    End-to-end support

    You receive support throughout the entire account opening process, from the initial consultation and bank selection to document preparation, submission, and final approval.

  • 2

    Faster and smoother application process

    A properly prepared application with Immigrant Invest helps reduce delays, avoid unnecessary requests from the bank, and make the process more efficient.

  • 3

    Access to international banking

    A Maltese bank account gives clients access to European banking services, which makes savings, international transfers, and business transactions more convenient.

  • 4

    Clear guidance on local banking requirements

    You will understand how the Maltese banking system works, which accounts may be available to you, and what timeframes to expect.

  • 5

    Assistance in communication with the bank

    Banks may request clarifications or additional documents. Immigrant Invest helps clients respond accurately and promptly to reduce the risk of misunderstandings.

​Who can open a bank account in Malta

Bank accounts in Malta can be opened by individuals and companies, provided they meet the bank’s compliance standards. The exact requirements and account opening procedure vary depending on the client’s profile, residency status, and the purpose of the account.

Individuals

Both residents and non-residents can open a Maltese bank account. However, non-resident applicants are typically subject to enhanced Due Diligence and stricter internal requirements, which may affect approval timelines and conditions.

Before opening an account, banks usually assess the following:

  • source of funds and overall financial profile;
  • country of residence and tax status;
  • purpose of opening the account;
  • expected transaction activity;
  • professional background of the applicant.

An account can be opened in person, remotely via a banking app, or through an authorised representative under a power of attorney, depending on the bank. In some cases, video identification may be required.

Companies

Maltese and foreign companies can open corporate bank accounts, provided they meet the bank’s compliance standards.

As part of AML requirements and regulatory oversight, banks carry out a detailed review of corporate clients, focusing on how the business operates and where potential risks may arise. In particular, they assess the following:

  • nature of the company’s business activity;
  • ownership structure and ultimate beneficial owners;
  • expected transaction volumes and counterparties;
  • geographic exposure of the business;
  • economic substance and operational rationale.

An account must be opened by an authorised representative of the company, such as a director or signatory, either in person or, in some cases, remotely or through a duly authorised intermediary.

Preliminary compliance review and proper preparation of the application are key to a successful account opening. Immigrant Invest supports both individual and corporate clients throughout the process to reduce risks and improve approval outcomes.

Request assistance from migration experts

After sending your request, our migration expert will contact you to confirm the details and outline the next steps.

Zlata Erlach

Material prepared by Zlata Erlach, Head of the Austrian office

​Types of bank accounts available

The Maltese banking sector offers a range of account types designed to cater to different financial needs, from daily transactions to long-term savings.

The three most common account types are current accounts, savings accounts, and fixed deposit accounts.

Current account

A current account is used for everyday banking, such as receiving a salary, paying bills, making card purchases, and transferring money. In Malta, these accounts usually include a debit card, online banking, mobile banking, and direct debit facilities. Some banks also offer an overdraft, subject to approval, and interest charges may apply if the account goes into debit.

Depending on the bank, a current account may be subject to a minimum balance fee. For example, HSBC Malta charges €10 per quarter if the average combined balance of the customer’s current and savings accounts in Malta falls below €200.

Savings account

A savings account is designed for holding money separately from everyday spending while earning interest on the balance. Depending on the product, withdrawals may be available at any time or subject to a notice period ranging from 7 to 90 days.

Conditions vary by bank and account type. For example, MeDirect offers savings accounts with no minimum deposit and no opening or maintenance fee, while APS deposit products can start at €25. APS also states that a €20 annual dormant account fee may apply if the account remains inactive for an extended period.

Interest rates on savings accounts in Malta are generally moderate, usually ranging from around 1 to 2.5% per annum, depending on the balance, access conditions, and product structure.

Fixed deposit account

A fixed deposit account is suitable for clients who want to place funds for a fixed term in return for a guaranteed rate of interest. It is mainly used for medium- to long-term savings rather than everyday banking. Early withdrawal is usually restricted and may result in a loss of interest or other penalties.

Minimum deposit requirements and available terms vary by bank. In Malta, fixed deposit terms usually range from 1 month to 5 years, with interest rates typically falling between 1% and 3% per annum.

Some fixed deposit accounts can be opened with as little as €100, while others require a minimum deposit of €1,000. For corporate fixed deposit products, the minimum deposit may start at €5,000.

Robert Outerbridge

Robert Outerbridge,

Investment Migration Expert

Maltese banks offer more than just current, savings, and fixed deposit accounts. Depending on the client’s needs, available options may also include notice accounts, joint accounts, business accounts, foreign currency accounts, and other tailored solutions.

Choosing a bank account in Malta involves comparing fees and interest rates, understanding which product best fits the client’s goals and which banks are prepared to consider a particular applicant profile.

Immigrant Invest assists clients at every stage of the process, from selecting the right account type to preparing the application and communicating with bank representatives.

​Documents required to open a bank account in Malta

The exact document list depends on the applicant’s profile, the type of account, and the bank’s internal procedures. Individual and corporate clients are usually asked to provide different sets of documents.

For individuals

The documents required to open a bank account in Malta include the following:

  • passport;
  • Maltese residence permit card, if applicable;
  • proof of foreign address, such as a utility bill or registration document from the local council;
  • Approval in Principle letter from Identity Malta, if applicable;
  • proof of current source of income;
  • proof of source of wealth;
  • reference letter from the client’s current or previous bank. 

The reference letter from the bank must confirm that the client has held an account with the bank for at least 2 years and that the relationship has been satisfactory. It may also include the residential address recorded by the bank.

For legal entities

The documents normally required include the following:

  • certificate of incorporation and other company registration documents;
  • memorandum and articles of association;
  • register of directors, shareholders, and ultimate beneficial owners;
  • board resolution authorising the opening of the account and naming the authorised signatories;
  • identification documents and proof of address for directors, shareholders, beneficial owners, and signatories;
  • documents describing the company’s business activity;
  • proof of source of funds and, where required, source of wealth;
  • information on expected transaction activity, counterparties, and countries involved.

​Bank account opening process with Immigrant Invest

The procedure may take from a couple of weeks to 2—3 months, and banks may request additional documentation as needed.

Immigrant Invest supports clients at every stage of the process and responds promptly to any issues that may arise.

1

1 day

Initial assessment

Immigrant Invest assesses the client’s profile, banking needs, and intended use of the account. At this stage, the team identifies potential compliance issues in advance and determines which banks and account types are most suitable.

2

1+ days

Bank selection

Immigrant Invest provides a list of reliable banks in Malta and helps clients choose the most suitable option based on services, onboarding format, fees, minimum balance requirements, and client profile.

The main banks in Malta include:

  • Bank of Valletta,
  • HSBC Malta,
  • APS Bank,
  • BNF Bank,
  • MeDirect Bank Malta.
3

1—2 weeks

Document preparation

Immigrant Invest helps the client prepare the application package in line with the selected bank’s requirements. At this stage, particular attention is paid to the source of funds, tax status, and supporting documents, as incomplete or inconsistent information may delay the review or reduce the chances of approval.

4

1 day

Application submission

Once the documents are ready, the application form is completed and submitted in the format required by the bank. Depending on the institution, this may be done online, at a branch, or through a preliminary remote submission followed by additional verification.

5

1—3 weeks

Bank review

After submission, the bank carries out its internal Due Diligence and compliance checks. The client may be asked to attend an in-person appointment, complete video identification, or provide additional documents or clarifications.

6

Up to 1 week

Account opening

Once the bank completes its review and approves the application, the account is opened and activated. In standard cases, this may happen within a few business days, while more complex cases may take longer.

​Why choose Immigrant Invest

Immigrant Invest is officially licensed to advise and represent clients in Maltese residency by investment programmes and Nomad Residence Permit. 

The licence issued by the Maltese government is legally required and confirms our compliance with strict standards of transparency, professionalism, and legal Due Diligence in the country.

The Investment Migration Council certificate proves Immigrant Invest is officially recognised as a qualified and ethical participant in the investment migration industry.

See All Licences

​Your Immigrant Invest team

Our legal and compliance specialists ensure that the bank account opening process is handled smoothly and efficiently.

Vladlena Baranova

Vladlena Baranova

Head of Legal & AML Compliance Department, CAMS, IMCM

Frederick Ellul

Frederick Ellul

Lawyer and Immigrant Invest's partner in Malta

Anna Semenyuk

Anna Semenyuk

Citizenship by Investment Programs Advisor

Robert Outerbridge

Robert Outerbridge

Investment Migration Expert

Our clients’ reviews

Names and photos of investors have been changed to comply with non-disclosure agreements.

​Frequently asked questions

  • Can a foreigner open a bank account in Malta?

    Yes, they can, but approval depends on the bank’s internal compliance review. In practice, it may be more difficult for a non-resident foreigner to open a bank account in Malta. Non-residents are usually subject to enhanced Due Diligence and may need to demonstrate a clear link to the country, such as work, study, or property.

  • Is it possible to open a Maltese bank account remotely?

    Yes, in some cases. Certain banks in Malta offer online onboarding for personal accounts, while others still require a branch appointment or additional steps to complete the application. Whether remote opening is available depends on the bank, the type of account, and the applicant’s profile.

  • What documents are required to open a bank account in Malta?

    For individuals, banks usually request the following:

    • proof of identity;
    • proof of address;
    • tax residency details;
    • documents showing the applicant’s link to Malta.

    For companies, the document list is usually longer and includes evidence confirming the company’s legal status, ownership structure, authorised representatives, and business activity.

    Additional documents may be required in both cases, depending on the client’s nationality, residency status, or risk profile.

  • How long does it take to open a bank account in Malta?

    The timeframe varies from bank to bank and depends on how quickly the compliance review is completed. Simple personal applications may be processed in a couple of weeks, while non-resident and corporate cases usually take longer.

    In Immigrant Invest practice, the process may take up to 2—3 months.

  • What is the minimum deposit for a bank account in Malta?

    There is no single minimum deposit that applies to all Maltese bank accounts. It depends on the bank and the product.

  • Why do foreigners need professional assistance to open a bank account in Malta?

    Foreign applicants often face stricter compliance checks, especially if they are non-residents or have complex income sources, cross-border activity, or foreign companies.

    Professional assistance helps prepare the application properly, present the source of funds clearly, respond to bank queries, and reduce the risk of delays or rejection.