Malta Payment System License

Malta obligates all payment systems owners, issuers of electronic money to receive a special license. It is issued only to entities that have a real head office, a physical branch or representation in the jurisdiction. The electronic money license in Malta requires costs that are charged at a fixed amount or vary depending on the type of the company. It must have funds for:

• a payment of services for the application consideration;
• a creation of the  company (with the depositing of authorized capital), an opening of a bank account in Malta;
• a payment of the license fee;
• a purchase of hardware and software necessary to support e-money business in Malta.

The amount of the authorized capital depends on the form of business - a public or a private company with the limitation of the founders responsibility, a partnership, a shipping company and so on. Among non-residents focused on electronic money issuing, LLC is popular, a public structure with limited liability of participants. Among the requirements for it is required to mention the following ones:

• authorized capital from 46 600 euros;
• at least two directors (they must be specialists in the relevant field of finance);
• payment of at least 25% of the declared capital amount;
• hiring a company's secretary - a physical persons (residency does not matter);
• annual reporting - copies of accounting and  director's reports, auditor's report.

LLCs, which are required a payment system license in Malta, are allowed to have a nominal service. In addition to the requirements to the company, you must fulfill the conditions set by the registrar:

• to provide a commercial model, a description of technical capacities for the electronic money issuance and transactions with them;
• to prove that the company can ensure the safety of customer funds (enclose a description of the relevant procedures and policies);
• to translate and apostille the constituent documents filed in the licensed package.

"Prifinance" is a Simple Receipt of Malta's Payment License

If you need a payment license in Malta, please contact "Prifinance", and our company will make the procedure for its receipt simple and transparent. We minimize the time and risk of dismissals for the customer, as we provide the competent support at all stages of cooperation. Our experts:

• shall develop a strategy and business structure, an action plan;
• shall provide an advice on tax planning and the payment systems operation;
• shall help to register a company, open an account, hire directors and employees;
• shall find premises for a "physical" office, select a legal address;
• shall draw up policies of funds security and counteraction to money laundering, the description of management and control mechanisms in the company;
• shall help to develop a business plan and formalize the documents to confirm the funds availability for its implementation;
• shall translate and legalize the constituent documents of the company, personal documents of the founders and management;
• shall help to validate the integrity of the company's policy, an evidence of financial integrity and the company's ability to provide the capital.

Employees of "Prifinance" shall check all applications, documents for inconsistencies and errors in filling in, officially certify the papers and help to submit them to the regulatory authority.

The standard period for applications examination for obtaining of EMI Malta is from three months. We will help to speed up the procedure as much as possible through the operational preparation of a full and correct package of documents and professional legal support.