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Setup
Bank Account Opening
A working bank account is the foundation for any business or personal activity in Malta. Without one, nothing moves: no invoices, no payroll, no day-to-day operations.
Bank Account Opening – What you need to know
Maltese banks set a high bar for new account holders. Strict KYC and AML regulations, extensive documentation requirements, and a general reluctance towards non-residents make opening an account one of the most time-consuming steps when setting up in Malta. Many business owners underestimate this – and end up with a fully incorporated company that can't actually operate.
Malta's banking landscape broadly splits into two categories. Traditional banks like Bank of Valletta (BOV) and HSBC Malta offer full-service banking but come with longer processing times and heavier documentation demands. Then there are E-Money Institutions (EMIs) and international payment providers, which open faster but may be more limited in what they offer. The right fit depends on your situation, your business model, and what you actually need.
DW&P knows every bank in Malta inside out. We know which documents are needed, in what format, and when they're due. We know which business models get a green light at which bank – and which ones don't. Through our direct banking contacts, we cut waiting times and avoid the rejections that unassisted applications so often run into.
Bank Account Opening – How it works
Initial consultation (free of charge)
We discuss your situation: business model, account type (personal or corporate), expected transaction volumes, and any special requirements. On that basis, we recommend the right bank.
Document preparation
We create a tailored checklist, review your paperwork, and prepare the application. Any missing documents – bank reference letters, business descriptions – we source or draft together with you.
Pre-submission compliance review
Before the application goes in, we check it against the specific KYC/AML requirements of your chosen bank. This avoids follow-up requests and delays.
Application submission and bank liaison
We submit the application and handle all communication with the bank. If questions come back, we respond directly – you don't need to worry about a thing.
In-person appointment
For the face-to-face meeting at the bank, we coordinate the date and time and prepare you for the conversation. Where possible, we align it with the same Malta visit as other necessary appointments.
Account activation and setup
Once the account is successfully opened, we help you set up online banking, order debit cards, and take the first operational steps.
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