Eternity Law International News EMI license in Malta

EMI license in Malta

October 3, 2022

Fintech space in Malta is constantly evolving. The jurisdiction has become one of the major financial centers, on a par with cities such as Dublin or London. It provides perfect ground for enterprises offering payment services, particularly, there are favorable taxation conditions. If you intend to operate in this area, an EMI license in Malta is an opportunity to become part of a reliable and dynamic industry.

Legislative regulations for getting Malta E-money institution license

All transactions and any activity related to fiscal segment are supervised by Financial Services Authority. Malta has particularly strict illegal money circulation regulations. Regulative body provides support in promotion of such services and gives an opportunity to introduce new technological solutions, as it tries to make this jurisdiction a global FinTech center.

  1. Corporate tax in country is 35%, income one for resident and registered enterprises is based on the increase in profits and incomes’ amount.
  2. It offers divers programs to motivate companies to participate in testing various software and introduce new technologies.
  3. Firm’s documentation can be drawn up in English.

Electronic money institution license in Malta: permissions’ categories

Here you can get several categories of licenses, depending on commercial structure you intend to open:

  • an authorized financial firm;
  • an authorized organization working with electronic payments;
  • small payment establishment;
  • small business dealing with e-money.

Criteria for getting an EMI license in Malta

  1. Initial capital – 25-125 euros, the amount depends on the type of fiscal services offered by enterprise; 350 thousand euros for an organization dealing with electronic payments.
  2. At least 2 workers must be hired by company. All employees need to have perfect image not being associated with any illegal operations, and extensive professional background in the industry. All personnel are tested for professional suitability.
  3. The firm needs to pay all fees – 3.5 thousand EUR for filing applications, and a fee for further control of deals.

Electronic money institution (EMI) license in Malta: application

  1. Applicants need to submit a fulfilled form along with documentation listed in relevant regulation. If necessary, the regulator may specify additional requirements.
  2. The regulatory body confirms that application has been accepted for processing. MFSA reviews it to ensure that all necessary data is present.
  3. Stage of evaluating organization for the possibility of getting permission.
  4. After a full check and evaluation of the company, the regulator gives an answer on the issuance of a license.

Once a firm has been able to get an EMI license in Malta, every employee of organization also needs to pass a proficiency test. This’s important and obligatory procedure when conducting MFSA licensing: with help of it, regulative body checks whether employees know their duties and whether they can correctly carry out them.

Our experts are ready to provide you with comprehensive assistance in obtaining an EMI license in Malta. We have extensive experience in supporting transactions and EMI licensing in various jurisdictions. Contact us – we are pleased to offer you many ready-made companies for sale.

You can see our current offers in the categories “Cryptocoins and licensing of cryptocurrency operations”, “Ready-made companies”, “Banks for sale” and “Licenses for sale”.

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