Obtaining an E-money License in Malta

Malta has a favorable legal and regulatory framework for electronic money and electronic institutions. The Banking Act allows financial and payment organizations to conduct business related to electronic banking services in accordance with given banking license.

The Malta Financial Services Authority (MSFA) is responsible for the licensing, regulation and supervision of financial institutions, electronic money and financial institutions in Malta. The Authority also licenses, regulates and controls investment services, insurance, collective investment schemes and official investment exchanges.

In addition to issuing electronic money, institutions of electronic money have the right to:

• provide payment services;
• provide loans related to the payment of services;
• provide operational and support services for the issuance of electronic money or with the provision of payment services;
• business activities, except the release of electronic money, not inconsistent with the law;
• functioning of payment systems.

IT OFFSHORE company provides services for the company registration, opening a bank account, and also renders assistance in obtaining a license in compliance with all the requirements.

Our service package includes the following:

• Payment of government fee for company registration in Malta;
• Registered address in Malta;
• Government licensing fee;
• Registered agent services;
• Delivery of documents to the requested address.

Stages of obtaining a license:

Company Registration (at least 1 director and 1 shareholder, local registered office). Completing the forms and applying to the Financial Services Commission in Malta with a request for obtaining E-money License.

Payment of government fees for filing a license application and licensing fee.

In the event of registration approval one can successfully obtain a license.

Cost:

1.

Company registering in Cyprus and first year of service, including:

• state payment
• registered agent services
• legal address
• preparation of constituent normative documents

2.

License obtaining:

• state payment
• registered agent services

Assistance in preparing a business plan and filling AML

The sum includes:

• Expenses incurred during company registration
• Providing a registered address
• Government fee for license renewal
• Registered agent services
• Support during the entire license registration procedure from the moment of documents submission to the Commission up to obtaining a license.
• Setting up a package of documents for obtaining a license
• Delivery of documents to the requested address

Personnel requirements:

Minimum of one director and one shareholder.
For company registration with the right to receive e-money director or shareholder must have high level of educational and good professional reputation.

Office Requirements:

Locally registered office is required for company establishment in Malta.

Registered Capital Requirements

To register a company with a brokerage license in Malta the minimum amount of registered capital from 350 000 euro.

For more information, please consult our specialist.