There is plenty of reasons to open a bank account outside his home country. That can be a desire to wide business, enter new markets or find new partners abroad. The safety and reliability of the bank are the main points in bank choosing. Other important conditions are terms and low requirements.
In this article, we would like to share information considering the Malta procedure, as this country provides great opportunities for business and can boast of stability.
Procedure for non-residents
Foreigners also can open a bank account in Malta. First of all, you need to prove your solvency. Good credit history and previous banks account will help you to achieve trust from a bank. You will have to assure a consultant that you will put a great amount on the account and the number of bank operations will be higher than the average one.
A pack of documents
You have to submit:
- passport or ID card;
- latest utility bills;
- bank reference. Information on a closed account is admissible.
- application form. You can fill it in the bank or download it from the bank website beforehand.
The bills or references have to be real, as the banks usually check them. The process of verification can be rather long, so be ready to wait for a couple of months.
Requirements for non-eu nationals
There is no difference between the requirements for the EU citizens and non-EU residents. You need to submit the same documents, but the process of verification is stricter.
This point can affect only the terms of account opening.
Benefits of maltese banking system
You are not limited in doing business with other EU countries. Organizing a money transfer will be easy.
There is no extra bureaucracy here and all procedures are optimize by international law.
Moreover, banks in Malta as a financial system in common are rather stable, so you can be sure that your capital will not disappear.
The fees for services are low. Some paid services here are free. This concerns the transfers between the accounts inside the bank, withdraw from the ATM, the opening of additional debit cards and so on.
Opening account outside Malta
Malta provides foreigners with an opportunity to open an account even if you are abroad. In this case, you need to choose an international bank with a convenient location of bank branches.
This option will be brilliant for those who plan to move to Malta or have a strict working schedule. The only drawback is the increased cost of banking procedures. Some banks can charge a fee for those services, which are free for residents or non-residents who come to Malta in person.
Additional information
There is a wide range of banks in Malta. All of them can provide you with a safe and trustworthy guarantee and confidentiality of your data. So, pay attention to the conditions and bank fees while choosing an appropriate institution.
Forums and websites with the responses from users can also help you to find worthy contenders.
Check the pack of documents on the website of your bank. Prepare them beforehand, as this process also takes time.
Our specialists will help you to choose an appropriate bank and to gather the required documents. Please, feel free to contact us for help or additional information.
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