E-Money license Malta

EMI license Malta

The Republic of Malta is one of the top three countries by the number of issued EMI licenses. Increased interest in this jurisdiction and the status of e money license Malta is caused by certain factors, among which are the single European passport, tax preferences, loyal attitude to foreign investors, and all-round active government support to suppliers and users of financial services.

Information about EMI licenses. For any legal activity associated with the provision of any payment services in the EU, the organization must obtain the relevant permission — the payment license of the Financial Institution level. EMI license is required when operations involve electronic payments.

Electronic Money Institution or EMI is a license allowing one to manage/operate such an asset as electronic money. In particular, permission is required to operate payment systems and arrange payments via electronic wallets. An EMI license also gives the right to issue e-money.
E-money, or electronic money, is an alternative to cash. It is assets stored electronically and on an electronic medium. Like physical money, it can be used for trade, exchange, and various payment transactions (transfers).

EMI licensing implies the submission of a corresponding application in the official form to the designated regulatory authority. In Malta, the Malta Financial Services Authority is responsible for licensing (authorization) and supervision of financial institutions.

Rules on the operation of companies-holders of e money license Malta shall be governed by the EU directives and regulations of MFSA. The regulations provide conditions for the active promotion of the FinTech sphere and increase the security of payments.

Steps

Company registration in Malta

It is necessary to register a local company, for which a license will subsequently be issued. You should select the name of the company, indicate the participants and provide their documents in order to register a company.

Account opening

The company needs to open a bank account in order to deposit the share capital. Opening an account is a complex process that should be entrusted to professionals. In order to open an account, you should to collect a package of documents and competently conduct further negotiations.

Contribution of authorized capital

The exact amount of authorized capital depends on the type of the license. The beneficiary must provide documents on the source of origin of funds contributed as authorized capital upon bank's request.

Hiring required employees

The company must have key positions employees, some of them must be local. We will help with the search and selection of employees.

Office rent

Office rent is not mandatory, but having one will significantly increase your chances of obtaining a license. We will select a budget option that meets the requirements.

Preparation of documents for applying for a license

It is necessary to prepare a business plan, and policies. In addition, application forms must be filled out. The client will only need to provide a basic information, on the basis of which we will prepare documents, taking into account local legislation.

Filing an application

It is necessary to submit an application to the regulator after preparing the company and documents. After submitting an application, you must be ready to answer additional questions from the regulator. We will take care of timely and competent answers.

Obtaining a license

The company receives a license after successfully passing the previous stages. At the same time, it must begin work within six months from the date of receipt of the license. Otherwise, the license may be cancelled.

Countries are nearby

E-Money license Lithuania

Financial institutions planning to provide services related to the issuance and turnover of electronic money in the European Union must have an EMI license. This is a requirement of the EU directive 2015/2366. An EMI (Electronic Money Institution) license is a legal document issued by a designated regulatory authority.

learn more

E-Money license Malta

The Republic of Malta is one of the top three countries by the number of issued EMI licenses. Increased interest in this jurisdiction and the status of e money license Malta is caused by certain factors, among which are the single European passport, tax preferences, loyal attitude to foreign investors, and all-round active government support to suppliers and users of financial services.

learn more

E-Money license UK

The United Kingdom continues to be one of the top jurisdictions for obtaining an EMI (Electronic Money Institution) financial license. Please note that this permission is a prerequisite for legal activities related to the growing popularity of electronic payments.

learn more

Frequently Asked Questions:

In order to obtain an EMI license in Malta, it is necessary to prepare a business plan, AML policy and other documents, register a company, hire specialists for mandatory positions (director, AML officer, etc.). Integral elements for obtaining a license are a bank account and contributed authorized capital.

In order to obtain an EMI license in Malta, you must provide: the company's statutory documents, copies of passports and resumes of its participants, business plan, AML policy and other documents. The exact list of documents, depending on the characteristics of future activities you can find out from the specialists of our company.

The final cost of obtaining a license for a payment system in Malta is depends on the various factors (region of operation of the future payment system, planned turnover, etc.). You can find out the exact cost of obtaining a payment system license in Malta by contacting our specialists.

The terms for obtaining an EMI license in Malta depend on the speed of submission of documents by the company's participants, the necessity of searching for employees, speed of opening an account and deposit the authorized capital, as well as of the consideration of the application by the regulator. Estimated term for obtaining a license - 6 months.