Open a Bank Account in Malta for a Maltese Company Owned from Abroad

Bank of Valletta, HSBC, APS and BNF: what each says about owners abroad

A Maltese company banks with a bank licensed in Malta, or with an EU bank, e-money or payment institution using its passport. Four Maltese banks publish their rules for companies, and they differ most on owners who live outside Malta. Checked against each provider’s pages in October 2026:

Bank or fintech	Licence and supervision	Published position on owners abroad	Route in
Bank of Valletta	Bank, ECB supervised	Company registered with the Malta Business Registry; 25% owners give certified ID, plus proof of address unless they hold a Maltese ID card; extra lists for gaming companies	Appointment at a BOV branch
HSBC Bank Malta	Bank, ECB supervised	Fusion accounts for smaller businesses need a Maltese ID document for every connected party; larger businesses state each connected party’s residence and tax residence	Online, then a branch appointment (Fusion); application by email (commercial)
APS Bank	Bank, supervised in Malta	Asks whether the company has economic substance or a connection to Malta; no gaming, betting or casino business	At a branch or through a Commercial Business Unit representative
BNF Bank, International Banking Unit	Bank, supervised in Malta	Serves Maltese companies mainly owned from outside Malta, with most revenue earned abroad	Online enquiry, then an appointment
Revolut Business	Revolut Bank UAB, a Lithuanian bank with an ECB licence	Takes EEA-registered companies that can prove a physical presence in the EEA, if the person applying has a home address in the EEA, Switzerland or the UK	Online
Wise Business	Wise Europe SA, a Belgian payment institution	Malta is on its list of countries where customers can hold money; companies with bearer shares are refused	Online

MFSA licence, ECB supervision and the Central Bank of Malta

Article 5 of the Banking Act (Cap. 371) forbids banking business in or from Malta without a licence from the competent authority, which the Act names as the MFSA; banks licensed elsewhere in the EU or EEA may use their passport. The ECB directly supervises Bank of Valletta, MeDirect and HSBC Bank Malta, whose majority owner agreed in December 2025 to sell its 70.03% stake to CrediaBank, subject to regulatory approval. The smaller banks, among them APS Bank, BNF Bank, Lombard Bank Malta and FIMBank, are supervised nationally; the ECB names the MFSA and the Central Bank of Malta as the national authorities, and the central bank’s statutory functions include financial stability and the payment system. E-money and payment institutions need an MFSA licence under the Financial Institutions Act (Cap. 376) or an EU passport.

Malta’s Depositor Compensation Scheme: €100,000 per bank, companies included

The Depositor Compensation Scheme, run by a committee appointed by the MFSA, pays up to €100,000 per depositor per bank within seven business days of a bank being declared unable to repay. Its guidance says a company with accounts at a failed bank is likely to be covered unless it is in an excluded category, such as financial institutions, investment firms, insurers, investment funds, pension funds and public authorities. Deposits in every currency count and are paid in euro. Only banks licensed in Malta take part: a Revolut Business balance sits with a Lithuanian bank under the Lithuanian scheme, and Wise, a payment institution, is outside it.

Branch appointments, Maltese ID and certified copies

Malta’s anti-money laundering regulations allow remote identity checks, through EU electronic identification or another secure process approved by the Financial Intelligence Analysis Unit. The banks’ published processes still run through branches. Bank of Valletta starts with an appointment at a branch. HSBC’s Fusion accounts start online, then a Fusion manager books a short branch appointment, and every connected party needs a Maltese identity or residence card or a Maltese passport. APS Bank wants the application handed in at a branch or to a Commercial Business Unit representative, with copies certified by a lawyer, notary or accountant and documents in other languages translated into Maltese or English. BNF Bank’s International Banking Unit answers an online enquiry with an appointment.

What a Maltese bank must verify, and what BOV, HSBC and APS list

Regulation 7 of the Prevention of Money Laundering and Funding of Terrorism Regulations makes the bank verify the company’s legal status, identify all its directors, obtain proof that its beneficial owners are registered, understand its ownership and control, and learn the purpose of the relationship. Banks turn that into lists:

• Bank of Valletta: an organigram up to the ultimate beneficial owner, dated within six months; a description of operations signed by a director; the memorandum and articles; the certificate of incorporation; a year of audited accounts, or management accounts or a business plan; proof of the tax identification number.
• HSBC Malta: a business plan with twelve months of projections for a new company, or the latest audited accounts, without which it says it cannot assess the request; the specific countries traded with, since continents or “worldwide” are not accepted; the source of wealth of the company and its beneficial owners.
• APS Bank: its corporate application form, a connected party form for each beneficial owner and controlling person, and an appointment of bankers form.

Paying in the capital, then opening the operating account

Forming a Maltese company with a bank account takes two steps. Under article 72 of the Companies Act a private company needs an authorised share capital of at least EUR 1,164.69, and at least 20% of each share taken up must be paid up when the memorandum is signed. The Malta Business Registry accepts a bank receipt as evidence of that payment only if it clearly shows the name of the company in formation. The operating account comes afterwards: Bank of Valletta, for example, starts only once the company is registered, and then asks for the documents listed above.

Foreign bank accounts for Maltese companies

A Maltese company can bank abroad wherever the provider’s rules allow. Revolut Business, provided by Revolut Bank UAB in Lithuania, accepts companies registered in the EEA that can document a physical presence there, as long as the person applying is based in the EEA, Switzerland or the UK, and it aims to review an application within 24 hours. Wise includes Malta in its list of countries where money can be held and confirms at sign-up whether it supports a business. Neither is covered by Malta’s compensation scheme.

Why applications from Maltese companies stall

• Connected parties without a Maltese ID document, for HSBC’s Fusion accounts.
• Gaming, betting or casino business: APS Bank’s form requires a declaration that there is none, and Bank of Valletta asks gaming companies for Malta Gaming Authority documents.
• An HSBC file with no business plan or accounts, or “worldwide” as the trading area.
• No proof that the beneficial owners are registered.
• Uncertified copies, or documents in another language without a certified translation.
• Bearer shares, which APS asks about and Wise refuses, or crowdfunded money, which APS excludes.
• A Revolut applicant whose home address is not in Europe as Revolut defines it.

Buying a ready-made Maltese company that already banks

The account belongs to the company, so it stays put when the shares change hands. What changes is the bank’s knowledge of its customer. The regulations require ongoing monitoring that keeps due diligence up to date, and APS Bank’s form obliges a company to report changes in its beneficial owners, officers or signatories and lets the bank review or end the relationship. The bank re-runs its checks on the new owners, directors and signatories, and it may continue the account, request further documents or close it.

Maltese company formation, ready-made companies and the bank application

Registration is the Registry’s decision and the account is the bank’s. Through Malta company formation we can set up a new company, or we can supply a ready-made Maltese company; in both cases we help put the bank application together, but the outcome cannot be promised in advance. See also our Malta company overview, the guide to shelf companies with bank accounts and the Cyprus and Malta comparison.

Frequently Asked Questions on Maltese company bank accounts

Can a Maltese company open a bank account outside Malta?

Yes, where the provider’s own rules admit it. Revolut Business, run by a Lithuanian bank, accepts EEA-registered companies with a documented physical presence in the EEA, provided the person applying has a home address in the EEA, Switzerland or the UK. Wise includes Malta among the countries where money can be held and checks each business at sign-up. Money held with either is outside Malta’s Depositor Compensation Scheme.

Which Maltese banks open accounts for companies owned from abroad?

BNF Bank says so most directly: its International Banking Unit serves Maltese companies mainly owned from outside Malta that earn most of their revenue abroad. Bank of Valletta and APS Bank publish document lists without a residence rule but start at a branch, and APS asks whether the company has substance or a connection to Malta. HSBC’s Fusion accounts need Maltese ID documents for every connected party.

Do the directors or owners have to live in Malta to open the account?

Not under company law, which sets no residence or nationality requirement for directors or shareholders, although the company needs a registered office in Malta and a company secretary. Bank policy differs: HSBC’s Fusion accounts require a Maltese ID document for every connected party, Bank of Valletta asks owners without a Maltese ID card for proof of address, and BNF Bank runs a unit for companies owned from abroad.

Is a Maltese bank account an offshore account?

No. Maltese banks are licensed under the Banking Act, the largest are supervised directly by the ECB, and deposits with them are covered by the Depositor Compensation Scheme up to €100,000 per depositor per bank. A Maltese company owned from abroad banks onshore in the EU, with an IBAN starting MT inside SEPA. The closest product is BNF Bank’s International Banking Unit for companies owned and trading abroad.

Can I form a Maltese company with a bank account?

Yes, in two steps. At least 20% of each share must be paid up when the memorandum is signed, and the Malta Business Registry accepts the bank receipt as evidence only if it clearly shows the name of the company in formation. The operating account follows registration, once the bank has the company’s documents, proof of the beneficial owner registration and the owners’ identification.

Are a Maltese company’s bank deposits protected?

Up to €100,000 for each depositor at each bank, under the Depositor Compensation Scheme, paid within seven business days. The Scheme’s guidance says a company is likely to be covered unless it falls in an excluded category such as financial institutions, investment firms, insurers, investment funds or public authorities. Deposits in any currency count and are paid in euro.