Malta is a convenient lawfullment to set up payment institutions. Remittance structures can create business, which would be based on the providing of electronic banking services. To perform such activities, it is necessary to enroll a company and obtain a payment institution license in Malta.
If you want to set-up a company that issues electronic funds, then you can contact our company for advice on this issue.
We are also ready to provide the necessary support in registering a company and obtaining an EMI license in the island country.
What are the benefits to obtain a PI license in Malta?
The number of payment service licenses in Malta has grown significantly in recent years, alongside the booming i-Gaming and e-commerce industries. PSP payment favor purveyors enjoy less stringent regulatory and supervisory demands than other credit.
Country offers a number of advantages, including:
- Europen “passport” rights;
- The possibility of opening a branch in other EU member states;
- Employment benefits for workers classified as highly skilled, who can benefit from an attractive tax regime.
- PIs are regulated by the FIA. The FSA of the island is the regulatory body in island a for service providers.
PI in Malta licenses for sale can participate in a variety of activities incorporating: payment transfer actions, such as direct debits and other transfers.
Basic requirements for PI license in Malta
Basic requirements for obtaining a PI permit:
- At least 3 directors, at least one of whom is a resident of the island;
- At least 1 AML employee based in Malta;
- Directors, CEO and Compliance Officer must be approved by IFSA.
- The starting capital of the company is from 20,000 to 125,000 euros (it all depends on the type of services you plan to provide);
Permissible types of activities for PI in Malta for sale
PIs are entitled to supply the following favors:
- Issue or purchase of remittance tools.
- Services that allow you to deposit or withdraw cash to a bank account, as well as all actions necessary for maintaining a payment account
- Implementation of remittance actions, inclusive of transfers of funds to a payment account opened with the user’s payment service provider or at another monetary service provider
- Implementation of payment operations, where the funds are secured by a credit line for the user of payment services
Documents that is necessary to get PI license in Malta
- The program of operations, defining, in particular, the types of planned activities;
- A copy of Memorandum and Articles of Association of candidate;
- Business plan.
- Audited financial statements for the last 36 months, if applicable;
- The identity of all officials of the institution;
- The identity of all shareholders directly or indirectly owning a substantial shareholding;
- Info about the persons who will conduct activities of institution;
- Head office location.
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”.