Malta is one of the best choices for digital offshore banking services now. Malta is a fully urbanized island country and stands out for its size. It consists of the islands of Malta, Gozo and Comino.
Although Gozo is less than half the size of the Island of Malta, it hosts important sectors such as fishing, tourism, handicrafts, and agriculture. Comino is the smallest of these three and is known for its hotels and large surface area.
Malta offers an attractive environment, especially for investment funds, trust companies, international banks, insurance companies, holdings, and commercial companies.
Developing the financial services sector and international investment is the government's primary economic objective.
The English legal system has been adopted in the country. Along with the new laws regulating banking, regulations to prevent money laundering have also been introduced.
There is no separate tax regime for offshore banking in Malta. It is possible to benefit from double taxation agreements made with many countries, especially France, Italy, England, and the Netherlands.
There is no exchange control on foreign capital inflow. Although capital outflow is subject to some restrictions, it does not affect international transactions.
These developments provide advanced offshore banking services now. Then, Malta has been one of the most preferred countries for offshore banking.
How to Do Offshore Banking in Malta?
You have probably heard of an offshore account. Offshore accounts are often associated with tax evasion and other less legal transactions.
A well-known example of this is a bank account in the Cayman Islands. However, having an offshore account is 100% legal and safe thanks to the Automatic Exchange of Information (AIA) and the Common Reporting Standard (CRS).
Offshore banking in Malta can be beneficial for anyone who conducts international transactions or receives payments from abroad. If you have a business abroad, live abroad as a freelancer, or travel the world as a digital nomad, you should open an offshore account.
By definition, an offshore account is simply an account that is located in a country where you are not a resident. Contrary to what the name implies, the account is not necessarily located "offshore" on a small island in a supposed tax haven. Of course, some countries are particularly popular for offshore accounts because there are some advantages there.
In our digital world, it is almost impossible to secretly open an offshore account. This is because the so-called automatic exchange of information (AEOI / CRS) has become a practice in almost all countries.
The aim is to prevent illegal activities and, above all, to make life difficult for tax evaders. It can be assumed that this policy will be expanded further in the coming years.
How to Open an Offshore Banking Account in Malta?
If you open an account abroad, it is initially fully functional and you have all the options that a domestic bank account would offer you.
However, offshore banking account in Malta (without information exchange) has a few special advantages to offer:
- The account is not known to other people (e.g. former spouses, current girlfriends, or business partners)
- Protection against currency crises and devaluation of money
- Protection against possible state intervention (e.g. expropriation)
- Savings from negative interest rates
- Money in offshore accounts does not come to the table in legal disputes
- If necessary, further advantages (e.g. lower fees, reputation, etc.) in the country where the foreign account was opened
Opening an Online Offshore Bank Account in Malta
When opening an offshore account, it is important to find out what regulations apply in the country where the offshore bank is located and to ensure that the offshore banking account is regulated by reliable authorities.
Political stability and asset protection play a major role here.
To open an online offshore bank account in Malta, some personal documents are necessary to open a bank account in Malta.
This includes:
- Valid passport or ID card
- Proof of residential address (e.g. rental agreement or electricity bill)
- Bank reference letter or certificate (optional, depending on the bank)
In some cases, the bank may also require an employment contract or proof of regular income to ensure that the account is being used for legal purposes.
Make sure you prepare and have all of these documents with you if you want to open a bank account in Malta. It makes the process easier and ensures that you can use your account quickly and efficiently.
These documents are checked by the digital banking platform and your application is generally approved in a short time.
Offshore Banking Account in Malta for Beginners
If you are a beginner investor, your offshore bank account in Malta is suitable for you. Because the best offshore banks for beginners have a good online banking system.
Since you are not always located in the country where your bank is located, you must manage your offshore account without having to make frequent calls or visits.
Since offshore bank accounts are a digital banking solution, beginner investors can easily invest their assets online and remotely and invest in different investment projects within the advantageous conditions of the Malta offshore banking ecosystem.
Can a Non-Resident Open an Offshore Bank Account in Malta?
Yes, any non-resident can open an offshore bank account in Malta remotely. If you take a closer look at the list of possible countries where you can open your offshore account, you may be worried that you have a long journey ahead of you.
But we can reassure you: In most cases, you don't have to leave the house to open an offshore account anywhere in the world.
The possibilities for verification are now extremely advanced. Signatures can also easily be created digitally in a legally valid form. Some banks use smartphone apps for this, for example.
Many people think that an ID document is sufficient to verify themselves for a bank account. But that is too short-sighted. Proof of residence must also be provided beyond doubt.
For this purpose, some banks require, for example, a current gas, electricity, or water bill. So you should prepare well here.
Which Bank is the Best to Open an Offshore Bank Account in Malta?
At Jetonbank, we offer the digital banking tools and applications needed by investors and customers who want to open an offshore bank account in Malta.
For the most advanced offshore banking solutions you need, Jetonbank, which is experienced in Malta banking regulations, offers applications via mobile application.
If you want to avoid the tax regulations of the country you live in and want to protect your assets safely within the banking regulations of another country, you can easily open an offshore bank account in Malta through Jetonbank.
You can contact Jetonbank right now and apply for an offshore bank account in Malta for both individuals and businesses, thanks to the digital banking tools offered by Jetonbank.
