Interesting. I hold personal accounts with most banks in Malta including Lombard so this came as a surprise as I am not a resident either.
Malta Company Bank Account EUR SEPA / IBAN
- Thread starter jackfrost
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All wanted utility bill or something similar, for company accounts incorporation documents, whats the company doing, UBO the usual stuff. All opened up pretty much instantly afterwards including for the Gib holding. One German bank declined, ABN AMRO was like either you got local substance in the netherlands or can proof some kind of connection to the netherlands AND we want 300 a month for account maintenance.
I did not open up any local MT bank account. After the fuss that BOV made and the timeline (3months+ if you are unlucky) i didnt even bother especially again - setting up shop in Malta the point is 1) to not hold MT bank accounts and 2) its just batshit stupid to hold any kind of money in them. BOV i would be ok with no matter what people here say but still - why.
@jackfrost I just wanted to say thanks for the info here on Transferwise. I assumed they only opened for major countries and just managed to get them to open an account for my company. Very easy really (easier than most archaic banks!!). Thanks again
Little update: Revolut after a couple tries (they didnt "get" that transferwise uses its own IBANs when sending out money and continured to request statements from those accounts as they showed as incoming funds to the Revolut Business accounts) finished the compliance checks without an issue. Supplied them with a couple invoices and transferwise incoming transfers statements (they simply wanted statements / invoices for larger incoming transfers in general) and then it was all good.
Processed about 500k through both now without any issue. Transfers usually in the 9-20k range per transfer.
Transferwise no issue so far either.
Processed about 500k through both now without any issue. Transfers usually in the 9-20k range per transfer.
Transferwise no issue so far either.
TW is used by many here on the forum including myself a few times. They are one of the most reliable services around.
Hi Uscorp
How long you take to open lombard bank in Malta? And they are asking you for bank reference?
I read positive feedbacks online about them also about their speed to make bank transfer, i’ve a BoV account i know how slow are them to process a transfer if not pay 8€ for same day...
How long you take to open lombard bank in Malta? And they are asking you for bank reference?
I read positive feedbacks online about them also about their speed to make bank transfer, i’ve a BoV account i know how slow are them to process a transfer if not pay 8€ for same day...
@jackfrost Did you manage to open a real EU SEPA (low fees) bank account for your Malta company in the end?
I stuck to transferwise + revolut business at the end + payoneer, now stripe etc for speading incoming USD payments out a bit. Also Interactivebrokers for storage but most simply goes out as dividends instantly and i only keep tax payments around in the company. Also CIM, that would be a true account but high costs. Frick that was mentioned here is useless for Malta imo. They flatout declined and this is as legit as it gets. Lombard used to open accounts but now you need local office + employees. BNF is supposed to but i dont really bother with local accounts.
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