Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the MFSA decision, including banking and payment rails.
Get a crypto license in Malta.
The EU's blockchain island moved first on MiCA - OKX, Crypto.com and Bitpanda all chose the MFSA as their home regulator. One authorisation opens all 27 EU markets, with an effective corporate tax near 5%.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
Malta in brief
The blockchain island that got MiCA right first.
Malta built a full crypto framework - the VFA Act - back in 2018, so when MiCA arrived on 30 December 2024 the MFSA simply slid its licensed firms across and kept going. That head start is why the biggest names in the industry - OKX, Crypto.com, Bitpanda - chose Malta as their MiCA home state, and why the MFSA's process is among the fastest in the EU for a properly prepared file.
For founders the numbers work too: capital tiers of €50,000-€150,000 by class, an assessment the MFSA targets in 65 working days, and Malta's full-imputation tax system - 35% nominal corporate tax of which non-resident shareholders recover up to 6/7ths, an effective rate near 5%. Add English as the language of law and business, and the island earns its market share.
The blockchain island - crypto supervision since 2018, a smooth VFA-to-MiCA transition, and OKX, Crypto.com and Bitpanda as MFSA-licensed neighbours.
One authorisation for all 27 EU states, capital €50k-€150k by class, 65-working-day assessment target and ~5% effective tax with the refund system.
Licence classes
One CASP authorisation - three service classes.
Malta issues the standard MiCA authorisation through the MFSA. The class, and the minimum capital, follow from the services you plan to provide; most projects combine Class 1 and Class 2 services under one licence.
One MFSA authorisation; the class and the capital follow from your services.
01 - CASP · CLASS 1-2
Core crypto services
For brokers, exchangers and custodians. Execution, exchange and safekeeping of client crypto-assets under one authorisation. Minimum capital €50,000-€125,000 depending on scope.
For brokers, exchangers and custodians. Execution, exchange and safekeeping of client crypto-assets under one authorisation. Minimum capital €50,000-€125,000 depending on scope.
- ✓Exchange of crypto ↔ fiat and crypto ↔ crypto
- ✓Execution, reception and transmission of orders
- ✓Custody and administration of client crypto-assets
- ✓Transfer services for crypto-assets
- ✓Advice and portfolio management on crypto-assets
- ✓Placing of crypto-assets
02 - CASP · CLASS 3
EU-wide passportTrading platform
The highest MiCA tier. Operation of a crypto trading venue with €150,000 minimum capital, listing rules and market-abuse controls, passportable across the EU.
The trading-venue tier - €150,000 capital, listing rules, EU-wide passport.
- ✓Operation of a crypto-asset trading platform
- ✓Matching of buyers and sellers in the venue
- ✓Admission-to-trading (listing) framework
- ✓Market-abuse monitoring under MiCA Title VI
- ✓Combines with custody and exchange services
- ✓One home regulator - the MFSA - for all 27 states
Costs and timelines are confirmed for your case before any work begins. Minimum capital depends on the CASP class - €50,000, €125,000 or €150,000 (MiCA Annex IV), and government and third-party fees are itemised in your quote.
Why Malta
A first-mover regulator and a ~5% effective tax rate.
The framework is MiCA (Regulation (EU) 2023/1114), applied directly, with the MFSA as competent authority and the FIAU supervising AML. Malta's edge is operational: seven years of crypto supervision before MiCA even existed.
✓
One EU rulebook (MiCA)
Crypto services run on Regulation (EU) 2023/1114 directly. Malta retired its VFA Act licences into MiCA smoothly. The MFSA had supervised crypto since 2018, so nothing had to be invented.VFA firms slid into MiCA. The MFSA supervised crypto since 2018.
✓
Passport to 27 markets
A Maltese CASP authorisation passports across the entire EU under Article 65 of MiCA. The route OKX and Crypto.com use to serve the whole Union from one licence.Article 65. The route OKX and Crypto.com use from Malta.
✓
A regulator with a track record
The MFSA targets a 65-working-day assessment and has authorised more household-name CASPs than any other EU supervisor. ESMA's 2025 peer review sharpened its process further. Scrutiny you benefit from at banks.65-working-day target; more big-name CASPs than any EU peer.
✓
Fixed capital tiers
Minimum capital is set by MiCA Annex IV, not by regulator discretion: €50,000 for Class 1, €125,000 for Class 2, €150,000 for Class 3. With an own-funds alternative under Article 67.€50k / €125k / €150k by class. MiCA Annex IV.
✓
~5% effective corporate tax
Malta's full-imputation system refunds non-resident shareholders up to 6/7ths of the 35% corporate tax on distributed profits. An effective rate near 5%, entirely white-listed and treaty-based.6/7ths refund on distribution - statutory, treaty-based.
✓
English-language jurisdiction
Law, courts, regulator and banking all work in English; the professional services bench is deep from two decades of iGaming and funds. Substance is straightforward to hire.Law, courts and banking in English; deep services bench.
How it compares
How Malta differs from its rivals.
Under MiCA the rulebook is the same across the EU. What differs is the regulator's experience, the speed and the tax wrapper around it. Malta pairs the longest supervisory track record with the lowest effective tax rate.
Malta vs other jurisdictions
| Feature |  Malta | Other jurisdictions |
|---|---|---|
| Regulatory regime | MiCA CASP - MFSA since 2018 (VFA) | National regimes or late MiCA starts |
| EU market access | Passport to all 27 EU states | Often none without a local licence |
| Effective corporate tax | ~5% with the refund system | 17-25% headline rates |
| Licensing speed | 65-working-day MFSA target | Often 6-12+ months |
Regulatory regime
MaltaMiCA CASP - MFSA since 2018 (VFA)
Other jurisdictionsNational regimes or late MiCA starts
EU market access
MaltaPassport to all 27 EU states
Other jurisdictionsOften none without a local licence
Effective corporate tax
Malta~5% with the refund system
Other jurisdictions17-25% headline rates
Licensing speed
Malta65-working-day MFSA target
Other jurisdictionsOften 6-12+ months
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Malta | MiCA CASP (MFSA) | 35% CIT → ~5% effective with refunds | Fast for prepared files, EU scrutiny |
 Czech Republic | MiCA CASP (ČNB) | 21% CIT, 3-year exemption for individuals | Clear, technical, predictable |
 Lithuania | MiCA CASP (Bank of Lithuania) | 17% CIT · 7% small companies | Engaged regulator, strict AML |
 Estonia | MiCA CASP (Finantsinspektsioon) | 0% retained / 22% on payout | Experienced, demanding supervisor |
MaltaLicense typeMiCA CASP (MFSA)
Taxation35% CIT → ~5% effective with refunds
RequirementsFast for prepared files, EU scrutiny
Czech RepublicLicense typeMiCA CASP (ČNB)
Taxation21% CIT, 3-year exemption for individuals
RequirementsClear, technical, predictable
LithuaniaLicense typeMiCA CASP (Bank of Lithuania)
Taxation17% CIT · 7% small companies
RequirementsEngaged regulator, strict AML
EstoniaLicense typeMiCA CASP (Finantsinspektsioon)
Taxation0% retained / 22% on payout
RequirementsExperienced, demanding supervisor
Before you apply
Requirements for a CASP authorisation.Requirements for a Maltese CASP.
The regulator assesses a CASP file against MiCA and national AML law. The checklist below is what a complete application actually contains. Most delays trace back to gaps here, not to the business model.
01
Maltese legal entity. A private limited company with its registered office in Malta.
02
Real substance. An office and part of management and the compliance function physically in the country; letterbox setups fail the assessment.
03
Fit & proper management. Clean records and demonstrated competence for directors and qualifying shareholders.
04
Share capital - €50,000 / €125,000 / €150,000 by CASP class under MiCA Annex IV, or the own-funds alternative of Article 67.
05
Programme of operations. A three-year business plan describing each crypto-asset service you will provide.
06
AML/CFT framework. Policies under the Prevention of Money Laundering Act, an appointed MLRO and reporting lines to the FIAU.
07
ICT resilience (DORA). Security and continuity arrangements under Regulation (EU) 2022/2554, which applies to CASPs.
08
Safeguarding of client assets. Segregation of client crypto-assets and funds, custody and wallet-management policy.
09
Governance & internal controls. Risk management, conflicts-of-interest rules and complaints handling.
10
Disclosure duties. White-paper and market-abuse obligations under MiCA Titles II and VI where relevant.
11
Application to the MFSA. A complete file starts the statutory clock: 25 working days for completeness, 40 for assessment.
01
Local legal entity with a registered office.
02
Real substance. Office, management and compliance in the country.
03
Fit & proper management. Clean records, competence checks.
04
Share capital - €50k / €125k / €150k by CASP class.
05
Programme of operations. Three-year, service-by-service plan.
06
AML/CFT framework. MLRO, policies, FIU reporting.
07
ICT resilience. DORA security and continuity arrangements.
08
Safeguarding. Segregation of client assets, custody policy.
09
Governance. Risk, conflicts and complaints frameworks.
10
Application. Starts the 25 + 40 working-day clock.
The list reflects MiCA Articles 59-68 and supervisory practice as of 2026. The exact scope depends on your service mix. A Class 1 broker file is materially lighter than a Class 3 trading-venue file.Reflects MiCA Arts. 59-68 and MFSA practice, 2026.
How it works
From first call to an authorised CASP.
01
Structure and scoping
We map your services to the right CASP class, fix the capital tier and set up the Maltese company with the governance MiCA expects.Right CASP class, capital tier and a local entity with proper governance.
02
The application file
Pre-licensing enquiry with the MFSA, then the full package: three-year business plan, AML/CFT and DORA packs, safeguarding and conflicts policies.Business plan, AML, DORA and safeguarding packs. Service by service.
03
MFSA review
The regulator targets 65 working days for assessment on top of the completeness check. We answer every query on your behalf.25 + 40 working days; we answer every regulator query.
04
Authorisation and passporting
The decision lands, the company enters ESMA's register, and Article 65 notifications open every additional EU market you need.ESMA register entry, Article 65 notifications to the EU.
05
Launch and ongoing compliance
Reporting calendars, audits, DAC8 and travel-rule flows. We keep the licence healthy while you run the business.Reporting, audits, DAC8 and travel-rule flows.
Quick facts
RegimeMiCA (EU) 2023/1114
RegulatorMFSA
Assessment target65 working days
In practice4-6 months
Capital€50k / €125k / €150k
EU passportAll 27 member states
MFSA fees€5,000-€15,000
LanguageEnglish throughout
Timeframes assume a complete file; the MFSA's pre-licensing enquiry is the cheapest way to find gaps early.
On the ground in Malta
Run from our Valletta office.
Prifinance - Malta
Valletta · Malta
Valletta, Malta
01
Maltese company formation
We incorporate the limited company, contribute the class-appropriate capital and prepare the corporate documents the MFSA expects to see.Limited company, capital and corporate documents. Done for you.
02
The application file and the MFSA dialogue
Pre-licensing enquiry, business plan, policies, DORA and AML packs. Drafted by us and defended through the 65-working-day assessment.Pre-licensing enquiry to decision. We defend every pack.
03
Substance and staffing
Registered office, local directors and MLRO recruitment on the island. The presence the MFSA requires, built with our Maltese counsel network.Office, directors and MLRO on the island via our counsel network.
04
Banking and payment rails
Accounts with Maltese and EU banks and EMIs that actually onboard CASPs. Opened in parallel so you launch the day the licence lands.CASP-friendly banks and EMIs, opened in parallel.
We also have offices in
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of crypto companies in Malta.
Malta's full-imputation system is the lowest effective corporate tax wrapper available inside the EU. White-listed, treaty-based and running since 1994. Crypto companies use it exactly like everyone else.
35% nominal, ~5% effective
Corporate profits are taxed at 35%, but on distribution non-resident shareholders claim a refund of up to 6/7ths of the tax paid. An effective rate near 5% on trading income.6/7ths refund to non-resident shareholders on distribution.
The refund is statutory
The imputation credit sits in the Income Tax Act, not in a ruling that can be withdrawn. It has survived every EU state-aid and BEPS review since accession.In the Income Tax Act since 1994, not a revocable ruling.
No tax on long-term holdings
For individuals, crypto held as a long-term investment falls outside capital gains tax; only trading as a business activity is taxed as income.Individual investment holdings sit outside CGT.
VAT-exempt exchange
Exchanging crypto for fiat is VAT-exempt across the EU under the ECJ's Hedqvist ruling (C-264/14); Maltese practice follows it.Hedqvist (C-264/14): crypto ↔ fiat exchange is VAT-exempt.
70+ tax treaties
A dense treaty network plus the EU directives. Dividends, interest and royalties move without surprise withholdings.No dividend withholding; EU directives apply.
DAC8 from 2026
EU-wide crypto reporting under DAC8 applies from January 2026. We build the reporting flows into your compliance from day one.EU-wide crypto reporting. Built into compliance day one.
Tax summary
Nominal corporate tax35%
Effective after refunds~5%
Long-term individual holdingsNot taxed
VAT on crypto exchangeExempt
Withholding on dividendsNone
DAC8 reportingfrom 2026
Tax treaties70+
*The refund mechanics depend on your shareholding structure. We model the exact effective rate before you commit.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Maltese limited company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, authorised CASP.
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Malta · MiCA CASP
Launch your crypto project in the EU with expert support.
Full-service assistance - from Maltese company registration to CASP authorisation and passporting.
Get a consultation →Free legal opinion
Is Malta the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, CASP class, or licensing route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Maltese CASP licence: the practical answers.
What licence does a crypto business need in Malta?+
A CASP authorisation under MiCA (Regulation (EU) 2023/1114), issued by the MFSA. Malta's own VFA licences were transitioned into MiCA - the VFA era is closed for new applicants.
What are the CASP classes and capital requirements?+
Class 1 (€50,000) covers execution, transmission of orders, advice, portfolio management and transfers; Class 2 (€125,000) adds custody and exchange; Class 3 (€150,000) covers operating a trading platform. The tiers are fixed by MiCA Annex IV.
How long does authorisation take?+
The MFSA targets 65 working days for the assessment on top of the completeness check; with the pre-licensing enquiry and Q&A rounds, a well-prepared file lands in about 4-6 months.
Can I serve clients across the EU with a Maltese licence?+
Yes. Under Article 65 of MiCA a Maltese CASP passports its services to any EU member state by notification - the exact route OKX, Crypto.com and Bitpanda use from Malta.
Do I need real presence in Malta?+
Yes: a Maltese company with a registered office, and part of management and the compliance function on the island. ESMA's 2025 peer review made the MFSA even stricter on substance - plan for it.
Why do the biggest exchanges choose Malta?+
Seven years of crypto supervision before MiCA existed, an English-language regulator, a 65-working-day assessment target and the ~5% effective tax rate. First-mover experience compounds.
What AML obligations apply?+
The Prevention of Money Laundering Act with FIAU supervision: an appointed MLRO, KYC and monitoring, plus travel-rule compliance under the EU Transfer of Funds Regulation.
How is the company taxed?+
35% corporate tax, of which non-resident shareholders recover up to 6/7ths on distribution - roughly 5% effective. Crypto-to-fiat exchange is VAT-exempt under Hedqvist.
And the founders personally?+
Long-term crypto holdings sit outside Maltese capital gains tax for individuals; trading as a business is taxed as income. Residence programmes can cap personal tax - we model this per case.
Why Malta rather than the Czech Republic or Lithuania?+
The rulebook is identical - MiCA, so the difference is execution: the longest supervisory track record in the EU, English throughout, and the ~5% effective wrapper. CZ and LT win on simplicity and small-company rates; Malta wins on tax and pedigree.
What licence do I need?+
A CASP authorisation under MiCA from the MFSA; the VFA era is closed.
Classes and capital?+
Class 1 - €50k; Class 2 - €125k; Class 3 - €150k. MiCA Annex IV.
How long does it take?+
65-working-day MFSA target; 4-6 months in practice.
Can I work across the EU?+
Yes - Article 65 passporting, like OKX and Crypto.com.
Do I need local presence?+
Yes: company, office, part of management and the MLRO on the island.
Why do big exchanges pick Malta?+
Regulatory pedigree since 2018, English, and the ~5% wrapper.
AML obligations?+
PMLA + FIAU: MLRO, KYC, travel rule.
Company taxes?+
35% → ~5% effective after refunds; VAT-exempt exchange.
Founder taxes?+
Long-term holdings untaxed; trading taxed as income.
Why Malta vs Czech or Lithuania?+
Pedigree and the ~5% effective rate; CZ/LT win on simplicity.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
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One message away from your Maltese CASP licence.
Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which CASP class fits your project and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the MFSA or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.