# Bank Account Opening

> Dr. Werner & Partners — International Advisory Firm in Malta
> URL: https://drwerner.com/en/services/bank-account

## Overview

- **Kanzlei:** Dr. Werner & Partner
- **Standort:** Malta (EU)
- **Founded:** 2013
- **Regulation:** MFSA-regulated, CSP Class C
- **Journey-Phase:** Setup (Operational Infrastructure in Malta)

## Service Description

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.

### What we handle

- **Needs analysis and bank selection** – We review your business model, transaction volumes, and requirements, then recommend the right bank or payment provider for your situation.
- **Document preparation** – Compilation and review of all required paperwork – from company documents and business plans through to personal identification and bank reference letters.
- **Pre-submission compliance review** – We make sure your application meets the KYC/AML requirements of your chosen bank before it goes in. That means fewer follow-up queries and fewer delays.
- **Application submission and bank liaison** – Submission of the complete application and direct coordination with the bank on any follow-up questions or additional requirements.
- **In-person appointment coordination** – Most banks in Malta require you to attend in person for account opening. We arrange the appointment and prepare you for the meeting.
- **Alternative solutions if declined** – If a bank turns down your application, we quickly identify an alternative – whether that's another local bank or an international EMI.
- **Personal and business account opening** – We handle both corporate account opening for your Malta company and personal accounts for you and your family.
- **Post-opening support** – Assistance with setting up online banking, ordering cards, and taking the first operational steps once your account is live.

### Who benefits

- Business owners who need a corporate account for their newly formed Malta company
- Individuals opening a personal bank account as part of their relocation to Malta
- High-net-worth individuals (HNWI) who need a separate account for their Maltese asset structure
- Shareholders and directors who want to open an account in Malta as non-residents
- Companies with specific requirements around payment processing, multi-currency accounts, or international banking
- Clients who have already been rejected and are looking for an alternative banking solution

## Process

01. **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.
02. **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.
03. **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.
04. **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.
05. **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.
06. **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.

## Frequently Asked Questions

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

It depends on the bank. With traditional banks like BOV or HSBC Malta, expect 4 to 8 weeks from submitting a complete application. EMIs and international payment providers can sometimes open within 1 to 2 weeks. Timelines stretch out if documents need to be resubmitted.

**Do I need to be physically present in Malta?**

In most cases, yes. The majority of Maltese banks require at least one in-person appointment for identity verification. We schedule this so it lines up with other commitments on the island – a notary appointment for company formation, for instance.

**Can I open an account in Malta as a non-resident?**

In principle, yes – but the bar is higher. Not all banks accept non-residents, and the documentation requirements are more extensive. We identify the banks that are right for your particular situation.

**What's the difference between a local bank and an EMI?**

Local banks (BOV, HSBC Malta) offer the full range: IBAN, transfers, credit facilities, and deposit protection. EMIs like Wise Business or Revolut Business are faster to open and often cheaper for payments, but they don't offer traditional lending. Some EMIs such as Wise don't offer deposit protection either. Others, like Revolut, now hold a full EU banking licence with deposit guarantee up to EUR 100,000. Depending on your business model, a combination of both can make sense.

**What happens if my application is rejected?**

Rejections happen – particularly with business models that banks consider higher risk, such as e-commerce or crypto. When that occurs, we present you with alternatives: a different local bank, an international payment provider, or a revised application approach.

**What documents do I need?**

Requirements vary by bank and account type. Typically you'll need: company documents (Articles of Association, Certificate of Incorporation, UBO declaration), personal identification for all authorised signatories, a business plan or description of your business model, proof of source of funds, and in many cases a reference letter from your current bank.

## Commonly Combined Services

- [Company Formation Malta](/en/services/company-formation-malta) — Company incorporation as the foundation for your business account.
- [Relocation Malta](/en/services/relocation) — Relocation support including account opening and settling-in assistance.
- [International Tax Advisory](/en/services/tax-advisory) — Strategic tax planning for Malta structures with cross-border expertise.

## Contact

- **Telefon:** +356 213 777 00
- **Website:** https://drwerner.com/en/services/bank-account

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*This page is a machine-readable summary for Large Language Models and AI assistants. For the complete, legally binding information please visit the [website](https://drwerner.com/en/services/bank-account).*