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+1 (888) 647 05 40The Republic of Malta is among the top three countries in terms of the number of SEMI licenses issued. The increased interest in this jurisdiction and the status of Malta’s e-money license is due to a number of factors, including a single European passport, tax preferences, a loyal attitude towards foreign investors, and comprehensive active government support for providers and users of monetary services.
For any legal activity related to the provision of any payment services on the territory of the EU, the organization must obtain the appropriate permission – a payment license at the level of a Financial Institution. An SEMI license is required if transfers involve electronic payments.
An SEMI license it’s permission that allows you to to perform transfers involving electronic money like electronic money. In particular, permission is needed for the operation of payment systems and the organization of payments through electronic wallets. The SEMI in Malta license also gives the right to issue electronic money.
E-money is an alternative to cash. These are assets stored electronically and on an electronic wallet. Like physical money, it can be used for trade, exchange and various payment activities(transfers).
Even before the introduction of the European directive on electronic money, Malta offered possibilities for the enrollment of such companies and allowed to obtain SEMI license in Malta . After the Directive appeared, Malta retained the status of an innovator and promising jurisdiction for payment systems.
The Republic of Malta is among the top three countries in terms of the number of SEMI licenses issued. The increased interest in this jurisdiction and the status of Malta’s e-money license is due to a number of factors, including a single European passport, tax preferences, a loyal attitude towards foreign investors, and comprehensive active…
The Republic of Malta is among the top three countries in terms of the number of SEMI licenses issued. The increased interest in this jurisdiction and the status of Malta’s e-money license is due to a number of factors, including a single European passport, tax preferences, a loyal attitude towards foreign investors, and comprehensive active…
The Republic of Malta is among the top three countries in terms of the number of SEMI licenses issued. The increased interest in this jurisdiction and the status of Malta’s e-money license is due to a number of factors, including a single European passport, tax preferences, a loyal attitude towards foreign investors, and comprehensive active…
Acquiring a license is possible in a short period of time – approximately 3-4 months after submitting an application with all official papers.
Obtaining an SEMI license in all EU countries requires the company to comply with certain requirements regarding the size of the authorized capital, personnel issues (company structure, reputation of top managers), asset protection policy.
Of course, the licensing process also requires certain monetary costs. This is the cost of setting up a company, payment of state tax and services for processing the application in Malta (one-time non-refundable application processing fee is 3.5 thousand euros). Cash investments will be needed to purchase equipment and software to run and support the business. An annual mandatory payment to the regulator is provided, equivalent to a share of 0.0002 of the total assets.
Obligations of public companies with a Small electronic money institution license in Malta include annual reporting.
Small SEMIs are defined as companies headquartered in a country that issue electronic money.
The total amount of earnings from the providing of their services cannot exceed 2 million EUR. Officials must provide a certificate stating that they have not been convicted of crimes and are not involved in the financing of illegal activities.
In cases where SEMI companies make a profit of EUR 1 million, the minimum authorized capital (which is equal to the minimum account balance) is EUR 50,000.
Be prepared to provide an impressive list of legal papers in order to successfully obtain a license:
The process for obtaining an Small e-money license in Malta includes:
On average, the entire licensing procedure, including preparation time, can take 4-6 months.
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