A company registered in Malta is not required to open a bank account with a Maltese bank. However, in some circumstances, it is recommended. VCS can assist in the opening of personal, corporate or non-resident accounts.
Bank accounts with local banks can be opened in both local and foreign currencies and internet banking facilities are available for all accounts.
Should you appoint VCS as a local corporate director, our policy is to act as signatory to the bank accounts. Besides assisting in the opening of the bank account, VCS also offers back office services for assisting in the management of the account in terms of payments, transfers, deposits and reconciliations.
All local banks require standard due diligence documents for opening a bank account. For corporate bank accounts, due diligence would have to be provided on each director, signatory and shareholder, leading up to and including the ultimate beneficial owner.