Opening an offshore bank account as a beginner is intimidating but it is not. This article will explain how easy it is to set up an offshore bank account in Malta even if you never opened one before.
Malta is one of the easiest countries to set up an offshore bank account in because of its well-developed banking system and easy regulations.
Simply by following a few easy steps, anyone can open an account to take advantage of offshore banking benefits such as privacy, interest rates, and cross-border transactions.
What Should Beginners Do to Open an Offshore Bank Account in Malta?
For novices, the first step is to check out which online offshore banking account companies are approved and authorised in Malta.
Please ensure that any bank you choose is properly licensed by Maltese banking authorities. For instance, Jetonbank, which is regulated under the Malta Financial Services Authority (MFSA) has a Category 1 license to operate offshore banking account services around the world under the EU’s jurisdiction.
Once you’ve chosen a trusted online bank such as Jetonbank, get all the standard KYC documents you’ll need (photo ID, proof of address, source of wealth, etc.).
You’ll use these documents to prove your identity while applying. The majority of digital banks enable identification upload electronically, making it convenient.
Send an online application, tell us a little bit about you and your offshore account requirements. Please expect a reply within 1-2 business days of approval of your application.
If approved, the bank will instruct you to create online account login credentials so that you can access your new offshore banking account without any problems.
You can then begin using services such as international payments, foreign currency exchange, and more from your desktop or smartphone.
Which Digital Bank Offers Free Offshore Bank Account Services in Malta?
Those who require a low-maintenance offshore bank account in Malta for themselves or their business must opt for Jetonbank.
We provide basic accounts for free without paying any monthly, quarterly or annual fees like other offshore banks do.
Jetonbank delivers digital corporate banking services across the world via its website. Users enjoy options such as multi-currency USD, EUR and more accounts that are useful for global traders. Pay by card at ATMs across the globe up to a monthly limit, and bill payments are also available for free.
The extras included in Jetonbank free offshore accounts include the freedom to exchange foreign currency at the interbank rate.
Wire transfers, checkbook orders and SWIFT payments are also available free of charge. Members also receive a Visa debit card to the offshore account at no additional charge and 24/7 phone and email support.
Jetonbank, for the active traders, also provides high-performance trading platforms with zero commission on over 80 trading instruments.
Transactions are secure, too, thanks to our multi-factor authentication. On the whole, it’s an all-in-one offshore banking system, with no maintenance costs to eat into your margins.
If customers and businesses select Jetonbank as the provider of their Malta offshore bank account, they enjoy access to full-service digital banking without recurring account charges.
It is a budget-friendly way of managing money and global operations anytime, anywhere.
Is It Mandatory to Be a Citizen to Open an Offshore Bank Account in Malta?
No, you don’t need to be a resident of Malta in order to have an offshore bank account there. Non-residents may open accounts, too, as per Maltese law.
All you need to do is that the account owner should be above the age of 18.
Malta is among the best offshore financial centers because of the simple bank and business accounts that are available for non-residents. Individuals and firms with a foreign incorporation are eligible to establish banking relations in Malta.
One example is that a UK national or a Nigerian firm can apply for a bank account with a bank such as Jetonbank by providing simple KYC forms and proof of origin of funds through an online application. The ability to reside locally, or be a citizen of Malta, is not required since the island also caters to global clients.
This receptiveness towards non-resident account holders has made Malta a prime location for global traders, expats and digital nomads to keep their money.
Bank account selection is not restricted to Maltese residents, making it easier to easily open an offshore account.
Can You Open an Offshore Bank Account in Malta and Trade With More Than One Currency?
Yes, once you open an offshore bank account in Malta with digital banks such as Jetonbank, you are allowed to transact and hold funds in different global currencies.
This multi-currency feature makes Maltese offshore accounts ideal for foreign traders and companies.
Jetonbank lets you deposit USD, EUR, GBP, CHF, etc. on a single account, as well as trade them. Clients can deposit and withdraw money in their own currency on demand.
They also enjoy favorable interbank exchange rates for moving funds within the account between currency balances.
That lets traders leverage cross-currency opportunities across currencies without the need to have individual accounts in different banks.
They can invest the required amount in each pair of currencies and conduct transactions straight from their Maltese offshore account.
Multi-currency accounts are also useful for businesses who export or import to a foreign country. They can accept payments in the currency of the country they are transacting with and convert amounts directly to their native or operational currency if necessary.
The facility to make deposits with major fiat currencies from an online Jetonbank account in Malta simplifies the accounting of foreign clients.
It erases the inefficiencies of accounts located at different locations all over the world.
Which Online Bank Should I Open an Offshore Bank Account in Malta with?
Jetonbank is one of the best online banks to open an offshore account in Malta.
For several important reasons:
- Open accounts digitally, without having to come to Malta.
- Comprehensive private and commercial banking products ranging from payments, transfers, trading, and digital assets.
- No maintenance fees with simple accounts, so you don't get those annoying recurring fees eating away at your revenue.
- Multi-currency support enables you to hold balances and trade between USD, EUR and other majors seamlessly.
- High-powered trading platforms for live traders with multiple instruments and no fees.
- Exceptionally safe system with multi-factor authentication and encrypted payments.
- Excellent customer support 24 hours a day (phone, email and live chat) for anything you need.
- We have more than 10 years of experience in providing offshore financial services online all over the world.
When you open your offshore bank account with Jetonbank, you will receive a comprehensive digital banking solution from a legitimate, licensed bank. It facilitates easy control of one’s personal or commercial finances with no need to leave Malta.
Jetonbank should be your best bet for easy and safe offshore accounts.
When you select the best online bank, opening an offshore bank account in Malta is quite simple both for new clients and those with previous experience. Jetonbank automates the completely digital experience and offers an all-in-one, no-cost financial solution.
Our multi-currency accounts also enhance flexibility for international traders. Jetonbank provides secure offshore banking from Malta in a convenient and safe way.
