Yes, you can open a bank account in Malta, but the process and your options depend on whether you live there

Malta's banks will open accounts for non-residents and visitors, but they treat them differently from residents. If you live in Malta, the process is straightforward — you bring your passport or ID card, proof of address, and sometimes proof of income, and most banks complete it in one visit. If you do not live there, you have fewer options: some banks require you to open in person at a branch, some require a minimum deposit that can be several thousand euros, and some do not accept non-residents at all.

The main banks operating in Malta are Bank of Valletta, HSBC Malta, Lombard Bank, and APS Bank. Each has different rules for non-residents. Before you travel or contact a bank, you need to know whether you are moving to Malta permanently, staying temporarily, or opening an account remotely from abroad — because each situation has a different answer.

Key Takeaways

  • Residents of Malta can open a bank account with a passport or ID card, proof of address, and sometimes proof of income, usually in one visit.
  • Non-residents opening accounts in person typically need a higher minimum deposit (often €2,000 to €5,000 or more) and must visit a branch.
  • Opening a bank account in Malta from abroad without visiting is difficult; most banks require you to be present in person or have a referral from an existing customer.
  • You will need your passport, proof of address, and sometimes proof of income or source of funds, depending on the bank and your residency status.
  • Malta's banks comply with EU anti-money-laundering rules, so they ask detailed questions about where your money comes from and what you plan to use the account for.

What you need to bring if you live in Malta

If you are a resident — meaning you have a Maltese address and can prove you live there — the process is the simplest. Bring your passport or national ID card, a utility bill or rental agreement showing your current address, and you can open an account at most banks the same day. Some banks ask for proof of income, such as a recent payslip or tax return, but not all do.

The banks will also ask you questions about your employment, the source of your money, and what you plan to use the account for. These are standard anti-money-laundering questions required by EU law, not a sign that anything is wrong. Answer them honestly and directly.

Opening an account as a non-resident visiting Malta

If you are visiting Malta and want to open an account in person, you can do so at most major branches, but expect a higher minimum deposit. Bank of Valletta and HSBC Malta both accept non-residents, but they typically require between €2,000 and €5,000 as an opening deposit, and some accounts have monthly fees. You will still need your passport, proof of address from your home country (a utility bill or bank statement), and proof of income or source of funds.

The process takes longer than for residents. The bank will conduct more thorough checks on where your money comes from, and approval can take one to two weeks even after you have visited in person. Some banks will not complete the account until they have received and verified documents by post or email, so you may not be able to use the account when ready.

Call the bank's international customer service line before you travel to confirm they accept non-residents and what documents they need. This saves you a wasted trip to a branch that cannot help you.

Opening an account from abroad without visiting Malta

This is the hardest option. Most Maltese banks do not open accounts for people who are not physically present in Malta and do not have a referral from an existing customer. A few banks have explored remote opening through video verification, but this is not standard practice and availability changes.

Your best option is to contact the bank's international department directly and ask whether they offer remote account opening. If they do, they will ask you to provide documents by email or post, and they may conduct a video call to verify your identity. Expect the process to take four to eight weeks, and be prepared for the bank to decline if they cannot verify your information to their satisfaction.

If you have a friend or family member who is already a customer at a Maltese bank, ask them whether the bank offers referral accounts. Some banks give existing customers a way to refer non-residents, which can speed up the process and sometimes waive the minimum deposit requirement.

Documents you will need at any bank

Regardless of which bank you choose or whether you are a resident or visitor, you will need to provide certain documents. Your passport is the primary form of identification. If you are a resident, bring a utility bill, rental agreement, or government letter showing your Maltese address. If you are a non-resident, bring a utility bill, bank statement, or government letter from your home country showing your address there.

You will also need to show proof of income or source of funds. This can be a recent payslip, a letter from your employer, a tax return, a pension statement, or a bank statement showing regular deposits. If you are self-employed or retired, bring documents that show where your money comes from — such as business registration papers, a pension letter, or investment statements.

Some banks ask for a reference from another bank where you have an account. If you have a bank account in your home country, contact that bank and ask them to provide a reference letter. This is not required everywhere, but it can help your process.

What happens after you submit your documents

Once you have provided your documents, the bank conducts anti-money-laundering checks. This means they verify your identity, check your address, and confirm that the source of your funds is legitimate. They may contact your employer or previous bank to verify information you have provided. This process typically takes one to two weeks for residents and two to four weeks for non-residents.

During this time, the bank may contact you with questions. Respond promptly and provide any additional documents they ask for. If you do not respond within the timeframe they give you, they may close your process.

Once your checks are complete and approved, the bank will notify you and provide your account details. If you opened the account in person, you may receive a debit card in the post within one to two weeks. If you opened remotely, the bank will explain how you can access your account online and when your card will arrive.

Fees and account types

Maltese banks offer different account types with different fees. A basic current account for residents is often free or costs a small monthly fee (typically €2 to €5). Non-resident accounts usually have higher fees, sometimes €10 to €20 per month, and may require a higher minimum balance to avoid charges.

Ask the bank about all fees before you open the account: monthly maintenance fees, fees for transfers, fees for card use, and fees for overdrafts. Some banks waive fees if you maintain a minimum balance or set up regular deposits. Compare the total cost across banks before deciding.

Frequently Asked Questions

Do I need to be a Maltese citizen to open a bank account?

No. You need a valid passport or national ID card and proof of address, but you do not need to be a citizen. EU citizens, non-EU citizens, and people with temporary residency can all open accounts, though non-residents face stricter requirements.

Can I open a Maltese bank account online without visiting?

Most banks require you to visit in person or have an existing customer refer you. A few banks are testing video verification, but this is not standard. Contact the bank's international department to ask whether they offer remote opening.

What is the minimum deposit to open an account in Malta?

For residents, there is often no minimum or a small one (under €100). For non-residents, expect €2,000 to €5,000 or higher, depending on the bank and account type. Call ahead to confirm the amount for your situation.

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

If you visit in person as a resident, you can often complete it the same day. For non-residents visiting in person, allow one to two weeks after your visit. For remote opening from abroad, expect four to eight weeks.

What if a bank rejects my process?

Banks can decline applications if they cannot verify your identity, if they have concerns about the source of your funds, or if they do not serve your country. If rejected, ask the bank for the reason in writing. You can then try another bank or address the concern (such as providing additional proof of income) and reapply.