Every business requires a business account in order to operate successfully. Any size of business, whether self-employed, freelancers, start-ups or large corporations, a business or personal account is required in order to receive and send payments.
If you’re planning to open a new bank account in Malta, you’ll be pleased with all the available options, no matter if you’re looking for a private account or a corporate banking solution. The key to getting a fully operational bank account quickly is to precisely match all KYC formalities (Know Your Client). These are simply a set of rules which all local banks are required to follow in order to comply with international regulations for money laundering prevention.
There are currently a total of 26 banks for business in Malta and three of these are international branches of foreign institutions. These firms operate according to the guidelines set forth in the 1994 Banking Act as well as the 2002 Central Bank of Malta Act. They are regulated by the Malta Financial Services Authority (MFSA) and these banks are relatively stable due to the resilient nature of the Maltese financial system. For those seeking to open a business in Malta and want to open a bank account, the following are the top banks in Malta.
When it comes to business, money is everything. This is equally true for new startups and companies that have been firmly established for years. Knowing that money is required is only the very beginning. The difficult part is in knowing how to go about acquiring funding. This guide is here to help outline the process of business borrowing in Malta by showing some of the more common options available.
With the help of technological advancement, online lending platforms have found an opportunity to overshadow the traditional ways of lending. Over time, online lending has been able to become a huge constituent of the powerful FinTech sector.
We all remember the economic crash of 2008 and the effect that this had on financing. Indeed, for a while, it was almost impossible to borrow money for either personal or business use. Things are on the up now though, and businesses are in a much better position when it comes to accessing finance deals. It’s not all plain sailing, however, and some time and effort need to be applied in order to satisfy the financiers that your business qualifies for a loan. Read on for our four tips to help any business secure the finance that they require.
Any business owner needs easy and reliable access to a cash stream. For some, their own liquidity reserves are sufficient for their needs. Others may find that their liquid cash reserves are lacking or they may be uncomfortable with using them to smooth the day-to-day running of the business. If you fall into this second category, you may wonder, ‘what is the alternative?’. The answer is business credit.