Banking
Get to know the local banks and loan procedures in Malta
Renowned for its mesmerizing landscapes and rich history, Malta also stands tall as a beacon for elite banking services. Among its many financial offerings, Malta Private Banking Services have emerged as a paragon of excellence, discretion, and personalization.
Banking and the processes adopted by banks in Malta might be overwhelming for new expats coming to the island. In this article you will learn about the most common frequently asked questions when dealing with banks in Malta.
Good news for expats in Malta looking to transfer money: as guaranteed by freedom of capital under EU law, there are no particular restrictions in money transferring, both for incoming and outcoming transfers.
Malta’s currency is the Euro and it was adopted on the 1st of January in 2008, 4 years after the country joined the European Union. The majority of countries in the EU use the Euro with eleven of the member states adopting it when it was first introduced on the 11th of January in 1999.
You may think that it’s a crazy idea to get a personal bank loan when you are abroad. A lot of people assume that it is almost impossible to borrow if you are a foreigner – even some expats think that. It is true that it can be hard to do, particularly for someone who is an expat. It is not impossible though, despite the ideas that get perpetuated.
Wealth management is often a concern for expats in Malta, and the country is establishing itself as one of the world’s leading offshore financial centres. Services on offer within Malta range from tax planning, private banking services and asset protection, to traditional money lending and investment management. These services are all regulated by the Malta Financial Services Authority, or MFSA, which places a strong emphasis on consumer protection.
