Opening a Bank Account for a Malta Limited

Setting up a Malta Limited goes hand in hand with opening a bank account here. It is a necessity. Why? Because the Malta structure requires a permanent establishment on the island. Trying to justify substance while only holding foreign accounts is a tough sell to tax authorities.

In this post, I want to explain how you can open an account and how my firm, Dr. Werner & Partners, handles the process when a founder cannot be here in person.

Opening an account is straightforward with the right paperwork

Basically, banking in Malta isn't all that different from what you might be used to in the UK or elsewhere in Europe. You walk into the bank with your passport and open the account. At Dr. Werner & Partners, we regularly handle this for our clients as part of our incorporation service.

I know my clients want to avoid unnecessary stress and admin, so they often aren't physically present for the account opening. And honestly, they don't need to be. Most banks just need a specific set of documents to get things moving.

If you don't live in Malta, the bank (and by extension, we) will need proof of your residence—interestingly, a simple utility bill usually does the trick. We will also need the official company formation documents, a copy of your passport, and a bank reference letter. This letter just needs to confirm that you have a banking history and haven't been a problematic client. Our close relationship with the banks and use of reliable couriers usually speeds this process up significantly.

Whether you open the corporate account yourself or leave it to us at Dr. Werner & Partners, it has to be done. We have worked frequently with local banks like BNF Bank (formerly Banif) and have had good experiences. That said, if you are unsure, feel free to ask for advice. Just use the contact form to get in touch.