Eternity Law International — News — Crypto license in Malta

Crypto license in Malta

Published:
December 5, 2022

At one of the leading blockchain conferences of 2018, the Prime Minister of Malta officially announced innovative regulations, highlighting the country’s desire to become a progressive blockchain island. Over the past year, our team actively interacted in panel discussions, making official proposals for regulating blockchain projects in this jurisdiction. With extensive expertise, we’re ready to share our knowledgeable background and support you in getting cryptocurrency permits in Malta.

Our team is ready to give you professional fully-covering assistance in licensing and general establishment of commercial structures worldwide. Our experts have extensive expertise and a wealth of knowledgeable background; it allows us to guarantee only effective and fastest results for our clients.

Peculiarities of becoming holders of crypto-licenses in Malta

This issue should be considered in the context of the challenges in creating current accounts, even after successfully completing all stages of getting expensive permits. Applications for such licenses must be submitted through a VFA register included according to the law meet next-mentioned criteria:

  • be accompanied by documentation and data additionally to legal requirement basis;
  • undergo inspection by the competent authorities in the prescribed manner and scope;
  • include a physical address in Malta for notices and other communications with the applicant;
  • maintain a min quantity of full-time workers locally.

These aspects emphasize the importance of expert support in getting crypto-licenses; our team promises to provide not only professional support, but effective resolution of nuances in this area. We’l also help you in getting other types of permits, particularly, Forex-licenses in Labuan, gambling licenses in Estonia, etc.

Crypto-licenses in Malta: categories and regulation

  1. First category of permits is suitable for financial advisors. Cost of license varies from 3,000 EUR with annual fees. Starting capital is from 50,000 EUR or 25,000 EUR with extra PII-insurance. Holders of this permit possess rights to receive and transmit orders, provide investment advice on VFAs and/or place them. Nevertheless, they cannot store or control clients’ monetary means. This licensing is suitable for providing wallets, P2P-exchange and asset management-procedures.
  2. Second category of permit costs from 5,000; you need to pay 4,000 EUR annually. Capital is 0 from 125,000 EUR. Holders of the second type of permit possess rights to offer VFA-services, with the exception of VFA-exchange or carrying out transactions for their own account. They’re allowed to hold or control client funds while providing the VFA-service.
  3. This permit is suitable for OTC-traders and over-the-counter transactions. It costs 7,000 EUR, and you need to pay 6,000 annually. Starting capital requirement basis is 730,000 EUR. Class 3 permit holders may spread various VFA-services, with the exception of VFA-exchange. They possess rights to hold or control client funds while providing the VFA-service.
  4. This category is suitable for any type of crypto-exchange. Its price is 12,000 EUR with an annual fee of 25,000 EUR. Capital in this case should be from 730,000 EUR. A Class 4 license gives firms full rights to operate the VFA-exchange and store or control client funds, VFAs or private crypto-keys.

Registration terms

Preparatory stage lasts quite a long time due to the careful selection of candidates. Licensing itself in this country takes 3-6 months from the date of application, depending on the need to provide additional documents to the regulator. If there is doubt about a candidate, the regulator requests additional information to make an informed decision.

Key points in the formation of basic policies for the functioning of a crypto-company in Malta

Companies need to ensure they qualify for distributed ledger technologies and undergo specific testing before doing business-activities in Malta. Considerable attention is paid to the compliance of the company’s administrative board with all regulative normative points, ensuring quality management and control.

Procedure of getting a crypto-license locally requires careful study of the legislative basis and provision of all mandatory-needed data. Legal assessment of the project provided by our company helps you make an informed decision and thoroughly prepare for business-activities in Malta. Price is calculated individually, depending on the complexity of the project.

It’s perfect to submit your project to the MFSA early to get essential informal feedback on what the regulator expects from your project. Our experts are ready to support you in this process.

Our experts provide fully-covering support in the process of getting a crypto currency permit in Malta and other permits, particularly, EMI licenses in Portugal, Forex-licenses in Germany and much more. Experienced lawyers and consultants help in getting a permit and establishing a business-structure, and creating a banking account in a Maltese banking establishment. We’ll provide legal support to comply with all rules and standards, and procedures related to crypto-activities. Our expertise guarantees the successful conduct of crypto-business in Malta in full compliance with the law.

Documents for obtaining a crypto-license in Malta

To obtain a crypto-permit in Malta is essential phase for launching cryptocurrency projects. When submitting your application to MFSA, you’ll need to provide a plenty of key documentation including:

  • completed application form;
  • professional liability insurance;
  • detailed business-plan;
  • Statute;
  • questionnaires of shareholders and directors (no residency rules);
  • financial forecasts;
  • forms for assessing the competence of workers and others.

Advantages of a crypto-license in Malta

Procedure of becoming a holder of a crypto-permit includes:

  • project preparation;
  • meeting with MFSA-representatives to clarify normative points;
  • submitting an application with registration of share capital and proof of the founders’ funds;
  • meeting licensing rules and standards.

This process usually takes about three-month-period, subject to extra time to prepare the necessary documentation and meeting licensing obligations.

Crypto-permit in a given jurisdiction is a very prestigious decision giving you a good image, opportunities to create a banking account in a local banking establishment, and regulatory flexibility from an honest and transparent regulative body.

Cryptolicense in Malta is an attractive choice for globally oriented crypto-projects seeking stable and transparent regulation. Our lawyers provide support, help you choose the optimal jurisdiction and accompany you at all stages of the project.

Our services

We provide fully-covering support to entrepreneurs seeking to get a permit in Malta and other spaces. Here’s what’s included in our offer.

  1. Establishments and licensing of companies in any part worldwide.
  2. Assistance in collecting and filling out the mandatory documentation.
  3. Getting supplementary permits if necessary.
  4. Interaction with regulators.
  5. Assistance in creating accounts in banks and payment systems.
  6. Possibility of purchasing ready-made organizations.
  7. Consultations on various issues.

Our experienced experts ensure the prompt and correct achievement of your goals for the successful functioning of your business-project.

Why choose our company

Our team is the optimal choice for cooperation regarding the preparation of a crypto-license in Malta and in other jurisdictions. Our experts with many years of expertise in this field possess successfully advised plenty of customers helping get hundreds of permits and received a lot of positive feedback. We specialize in operational licensing in various jurisdictions and in solving possible problems arising during the transaction process. We’re perfect choice for next-mentioned reasons.

  1. Rich expertise in this field.
  2. Receiving positive feedback from clients.
  3. Fully-covering support: from opening an account to selecting personnel and premises.
  4. Focus on achieving perfect results at minimal cost.
  5. Guaranteed quality of services provided.
  6. Free consultations.
  7. Fully-covering clients’ support at all phases.

Contact us now and we’ll help you find perfect kind of crypto-permit in Malta and other jurisdictions to suit all your desires and intentions. We may provide supplementary corporate services: we’ll recruit personnel, find premises for rent, arrange other permits and much more. We focus on achieving optimal results with minimal investment, providing fully-covering support at all phases of the deal.

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