How to Open an International Overseas Bank Account in Malta?10 min read

How to Open an International Overseas Bank Account in Malta?10 min read

With an international overseas bank account in Malta, individuals and companies can enjoy a variety of high-quality overseas banking services and products. 

Malta is an EU member state that provides a safe business and regulatory environment for foreign bank accounts. 

Here in this article we’ll see how you can get an overseas bank account for an international account in Malta and what you can transfer or invest in the account.

Opening an International Overseas Bank Account in Malta

No one could be more convenient than opening an international bank account in Malta from abroad. 

As an EU member state with cutting-edge digital facilities, now virtually all applications are submitted at home.

All you require is simple KYC forms – passport or ID, address and source of funds. Send these to your bank of choice (e.g., The Kingdom Bank) with a completed application form.

A few things to know – The Kingdom Bank is 100% registered to provide services worldwide. It delivers an entirely online onboarding without any in-person interaction. 

You can track applications online too so you know where you stand every step of the way.

Within 2-3 weeks after your new debit card and online banking credentials are validated, they are couriered to your door. And voila, you’ll have access to international banking services right at home.

What Transactions are Made with a Malta International Bank Account?

With an international bank account in Malta, you can easily make local and international transactions. Common transactions include:

• Pay internationally – Pay internationally from any part of the world via internet banking, wire transfer or payment sites such as PayPal. This makes it easier to transfer funds internationally.
• Multi-currency accounts – Keep balances in the main currencies USD, EUR, GBP, etc. without currency conversion charges. This allows you to invest in multi-currency markets around the world.
• Internet and mobile banking – Keep track of your finances online through internet and mobile banking. — Bill payments, money transfers, balance checks, statement downloads, etc.
• Debit card – Use your debit card to buy things online and offline. ATM withdrawals are also available around the globe.
• Capital management– Save money, buy shares, bonds, funds, properties, etc. through the bank’s investment services.
• Business transactions – Create an entity and conduct business activities such as payroll, vendor payments through the company bank account.

A Malta bank account enables cross-border banking for both personal and business purposes.

Can Multi-Currency Investments Be Made With an International Overseas Banking Account in Malta?

This is the best advantage of an overseas account in The Kingdom Bank or any other bank based in Malta because they accept more than one currency. This opens the door to some powerful global asset classes.

For instance, holding balances in USD gives direct access to US listed companies, ETFs or real estate investment trusts. Cash in your account offers an easy connection to the UK market.

Also, you can use the best exchange rates to transfer funds or buy things overseas. Automated multi-currency savings plans help diversify your portfolio.

Credits are charged interest based on foreign exchange rates. A few banks even provide trading platforms where you can buy assets without brokerage.

Multi-currency account makes global diversified investing easier without incurring additional conversion fees. All from a secure European base in Malta.

Can International Payments Be Made With a Malta Overseas Bank Account? 

Yes, international payments are one of the primary functions of having an overseas bank account in Malta. 

Whether through online banking, wire transfers or payment gateways, account holders are able to deposit and withdraw money anywhere in the world with minimal hassle.

The following are some of the main benefits of international payment through a Maltese bank account:

• Reduction in transfer charges – Banks in Malta charge small charges for wire transfers overseas as opposed to banks in the same country which charge a lot.
• Speedy delivery – Online banks receive international money on the spot while wire transfers take 1-2 days.
• Payment in multiple currencies – Payments can be received in major currencies such as EUR, USD, GBP, etc. without additional currency conversion costs.
• Global reach– Funds can be deposited into bank accounts all over the world, as Malta is part of the global financial system.
• Track payments – Online portals will keep transaction details and receipt information up to date for transparency.
• Automated Payments – Standing orders and payment templates enable payments to be automated.

Using a bank account overseas in Malta allows you to pay money abroad quickly, easily and affordably.

Can Businesses Open an International Overseas Bank Account in Malta?

Yes, opening an international corporate bank account in Malta offers several benefits to start-ups and established companies:

• Company registration – Register a company in Malta and simply create a business account with all the paperwork.
• Tax optimization– Pay low corporate tax of 35% on profit including exemptions for financial services and iGaming.
• Banking facilities – Cash management solutions, loans, credit lines, trade finance to meet daily needs.
• Online banking – Access money and pay vendors around the world from safe online banking sites.
• International payments – Pay suppliers and get invoices sent to and from cross-border bank accounts in multiple currencies.
• Recognised by regulators – EU recognition and stability guarantees partners and customers peace of mind.
• Licenses – Get licenses for activities such as gaming, investment services, fintech more easily than other regions.

Businesses can create a EU-based business and banking presence through the creation of an international corporate bank account with a well-known bank such as The Kingdom Bank in Malta.

With an overseas foreign bank account in Malta, you will have access to many banking products and services around the world. 

Being able to hold multi-currency accounts, make payments internationally and engage in cross-border transactions, a Maltese bank account enables location-independent mobility.

Whether you’re a business, a sole trader or a digital nomad, locating your banking in Malta provides operational flexibility and potential. 

Banks such as The Kingdom Bank also facilitate a fully digital onboarding process for non-residents.

If you want to start reaping the benefits of global banking at your convenience, check out account options at The Kingdom Bank today. You can check your eligibility on our website and submit a quick online application.