Opening a bank account in the Maldives

Julien Founder

Member since 11 March 2005

17 years of happy life abroad

JulienFounder28 September 2011 07:43:18

53131

Hi all,

is it difficult for expats to open a bank account in the Maldives ?

Which documents are required to open a bank account in the Maldives ?

How long does it take to open it ?

Is there any restriction for expats regarding the services (loans for instance) ?

Which bank would you recommend ?

Thanks in advance for your participation,

Julien

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kaliweftie New member

Member since 02 April 2011

kaliweftieNew member29 September 2011 07:53:13

Hi Julien,

Basic documents are the same in any bank. Valid government IDs, proof of income, etc. The difference is that you need someone who will 'vouch' for you before you can open an account.

Loans and credit cards for expats? I am not so sure about that. Same thing, I guess.

You can try HSBC Maldives (high opening and maintaining balance though), Bank of Maldives and State Bank of India are also good choices. I'm with BML and their services are ok. Our company opened the account on our behalf and it only took about a week to open as long as all documents are submitted.

Hope this helps.