Opening a bank account in Malta | SIGTAX

Opening a bank account in Malta

открыть счет на мальте

Opening a foreign bank account in Malta is a must for any foreign citizen or company that seeks to conduct business in the country.

There are many obstacles to opening such an account, which include building a relationship with a national bank in order to increase creditworthiness for future mortgages or regular monetary transactions.

At the moment, countries such as Switzerland, Cyprus, Malta, Luxembourg, Poland, Ukraine, Belgium, Ireland, Liechtenstein and Italy are eligible to open an account abroad.

 

Requirements for opening an account in Malta

The process of opening an account in Malta can usually take about two weeks. Before your request is considered, you will need to fulfill the following requirements and provide the required documents:

 

●     You must have proof of your residence permit. (eResidence or ID)

●     Color copies of a valid identity document. (e.g. passport)

●     Billing address. (It is important to indicate the changes made and check the correct spelling of the address indicated in your ID)

●     Payroll as proof of income. (Also, the provision of a valid employment contract may be sufficient)

 

Upon successful account opening, your debit card, account number and associated PIN will be mailed to you at your place of residence.

The reasons why it will be beneficial for you & nbsp; cooperation with SIGTAX

By contacting SIGTAX you will be guaranteed high-quality service and support in opening an account in a foreign bank. Below are the reasons that will convince you of quality work.  SIGTAX:
 
  • We provide free consulting.
  • We select the ideal lawyer for you, we also help with the filing and processing of all the necessary documents.
  • We are a one-stop company offering services for opening accounts, setting up a real or virtual office, and obtaining permits, tax and social security numbers.

 

You can choose the following leading bank groups:

 

  • Credit Suisse
  • USB
  • Swiss post office
  • Raiffeisen

 

These banks are used by 81% of local residents in Switzerland. You can choose any of these if you need world-class banking and if English is your priority. Credit Suisse and USB are labeled as the Big Two. They are the best in the country. They do not scatter their services, but provide them under one roof. The only caveat is that they are more expensive compared to other banks.

 

Swiss post office and Raiffeisen offer standard banking services at competitive prices. Their online sites also provide access to languages such as English (except Raiffeisen), French, Italian and German..

 

Other banks to consider:

  • Cantonal banks
  • Post bank
  • Migros bank

 

Unfortunately, most Swiss cantonal banks are only accessible to local residents. Only a small percentage are registered with these banks, about 17% of the glocal participants. You can use them if you need basic banking with available services and if English is not that important to you. However, when using these banks, you may miss advanced products / services.

 

To open a bank account in Switzerland, you need documents such as:

 

  • National ID, accompanied by an official document such as passport / visa (no driver's license accepted)
  • Proof of residence
  • Previous bank statements and certificates

 

If your account is for business, additional documents may be required, including:

  • Certified or original copies of corporate documents
  • Information that discloses your business activities, such as copies of contracts, invoices, frequency of outgoing and incoming payments, estimated figures, etc.
  • Details of the beneficial owners of the business will be required, including:
    • - National ID cards, proof of residence, documents proving sources of funds, employer recommendations, employment contracts, savings and other business information.

    • - You may also need to provide referrals from your business partners; bank statements and account statements; and a resume that reveals your education and career.

 

The bank also checks your business partners frequently. This is done to validate the legality of your business practices..

 

The minimum deposit required to open an account will depend on the bank.

 

Benefits:

 

Effective banking confidentiality

 

Swiss banks are renowned for outstanding bank secrecy laws. These laws are the strictest in the entire world. They made the country more attractive for people with large financial assets..

 

Political stability

 

Switzerland is a politically stable country, and this is confirmed by its history. This makes this jurisdiction the preferred jurisdiction for most financial services and private banks..

 

Higher interest rates

 

Throughout history, Swiss accounts have been known for generating higher returns than their foreign counterparts..

 

Safety

 

You can get the safest banking system in Switzerland. In the event of a system crash, your funds will be fully secured by the depositor agreement - the Swiss Banking Association.

 

Fair minimum deposit amount

 

You can find banks that will open an account for at least CHF 5,000. This means that anyone can open a bank account..

 

Professionalism

 

As the financial system in Switzerland makes a large contribution to the country's economy, it is professionally managed and serviced..

 

The disadvantages include:

 

Higher commissions

 

Advanced security protocols offered by banks require slightly higher fees compared to most commercial banks.

 

Lack of local branches

 

While they have access to funds through a mobile app, e-banking, private bankers and tokens, some customers still want the convenience of their local bank branch near them..