Malta Electronic Money Institution License
Key Features
In addition to issuing electronic money, Electronic Money Institutions are entitled, subject to the prior authorisation of the Malta Financial Services Authority (MSFA), to engage in any of the following activities:
- the provision of certain payment services;
- the granting of credit related to certain payment services. Provided that any such credit shall not be granted from the funds received in exchange for electronic money and held in accordance with the prescribed safeguarding requirements;
- provision of operational services and closely related ancillary services in respect of the issuing of electronic money or to the provision of payment services referred to in point (a) above;
- The operation of payment systems;
- business activities other than the issuance of electronic money, having regard to the applicable law regulating such activities;
- Electronic Money Institution are allowed to issue debit cards (such as a chip device) but they are not allowed to issue credit cards since such institutions are not permitted to undertake lending or other bank-related activities;
- EMIs based in Malta are allowed to outsource services subject to the MFSA’s evaluation on their own merits.
Legal Requirements
Requirements |
Description |
General |
|
|
Company, Limited partnership |
|
No |
Share capital or equivalent |
|
|
€350,000 |
Directors |
|
|
2 |
|
Yes |
|
No |
Shareholders |
|
|
2 |
|
Yes |
|
No |
Service Providers Required |
|
|
Yes |
- Attractive fiscal environment
- Generally fast regulatory approval environment
- End to end comprehensive service
- Speedy and efficient service
- Expert advice on structuring options
- Dedicated ongoing compliance support
- Extensive network pool of service providers