Payment License in Malta
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Obtaining a payment institution license in Malta opens doors to the European financial market, allowing businesses to offer regulated payment services, digital wallets, and remittance solutions across the European Economic Area (EEA).
Favorable Tax Regime
WHAT ARE THE MAIN REQUIREMENTS FOR OBTAINING A MALTA PAYMENT LICENSE?
Company Registration & Capital Requirements
Applicants must establish a Malta-based company with a minimum share capital of €125,000 for a Payment Institution License or €350,000 for an Electronic Money Institution (EMI) License. This capital must be fully paid up and maintained to ensure financial stability.
Corporate Governance & Key Personnel
A licensed entity must appoint at least two directors with financial industry experience, a Money Laundering Reporting Officer (MLRO), a Compliance Officer, and a Risk Manager. The team must demonstrate expertise in payment processing, compliance, and anti-money laundering (AML) policies.
Business Plan & Financial Forecasts
A comprehensive business plan must be submitted, including detailed financial projections for three years, revenue models, risk assessments, and operational structures. The plan should outline how the company intends to comply with PSD2 and MFSA regulations.
AML & Risk Management Compliance
All applicants must implement strict anti-money laundering (AML), counter-terrorism financing (CTF), and fraud prevention frameworks. The company must ensure Know Your Customer (KYC) procedures and adhere to the EU’s AML Directives.
Operational & Security Requirements
The business must establish a secure IT infrastructure, ensuring the protection of customer data, financial transactions, and cybersecurity compliance. PCI DSS (Payment Card Industry Data Security Standard) certification is often required.
Local Office & Regulatory Presence
A payment institution must have a registered office in Malta, with key compliance functions carried out within the jurisdiction. While the directors do not need to be Malta residents, the company must have local compliance officers and legal representatives.
5 STEPS TO OBTAIN A MALTA PAYMENT LICENSE
Pre-Application & Compliance Preparation
Before submitting an application, businesses must incorporate a Malta-based entity, establish internal compliance structures, and appoint key personnel. A detailed business plan and financial forecast must be drafted, outlining the company’s operational and risk management strategies.
Application Submission & Due Diligence
The application is submitted to the Malta Financial Services Authority (MFSA), along with supporting documentation, including AML policies, corporate structure, IT security frameworks, and financial statements. The MFSA conducts background checks on shareholders, directors, and senior management to ensure compliance.
Regulatory Review & Business Readiness Assessment
Once submitted, the MFSA reviews the application and evaluates the company’s financial soundness, operational setup, and compliance protocols. The regulator may request further documentation or adjustments to risk management strategies before approval.
Capital Deposit & Operational Setup
Upon preliminary approval, the company must deposit the minimum capital requirements, finalize banking arrangements, and complete all technical and security implementations necessary for full compliance with MFSA regulations.
License Issuance & Business Launch
Once all conditions are met, MFSA grants the Malta Payment Institution License, allowing the company to begin offering payment processing, digital wallets, and financial services across the European Economic Area (EEA). The company must maintain ongoing compliance with quarterly and annual reporting requirements.
Frequently Asked Questions
Still have a questions?
How long does the licensing process take?
The full licensing process typically takes 6 to 12 months, depending on the complexity of the application and the due diligence process by the MFSA.
What is the minimum capital requirement for a Malta Payment License?
The minimum capital required is €125,000 for Payment Institutions and €350,000 for Electronic Money Institutions (EMI).
Can a licensed company operate in other EU countries?
Yes, businesses with a Malta Payment Institution License can passport their services across the entire EEA without additional local licenses.
What compliance measures are required?
Companies must implement AML policies, cybersecurity frameworks, risk management procedures, and client fund protection measures, while maintaining regular reporting to the MFSA.
Can cryptocurrency payments be integrated under this license?
Yes, crypto-related payment services can be included under a Malta Payment License, provided they comply with EU financial regulations and MFSA guidelines.
Do I need to relocate to Malta for the licensing process?
No, but the company must establish a registered office in Malta, and key compliance functions must be conducted within the jurisdiction.
Can non-EU nationals apply for a Malta payment license?
Yes, but the company must be registered in Malta, and at least one director or compliance officer must be an EU resident.
OUR SERVICES INCLUDE
Company Registration & Legal Structuring
We assist in setting up a fully compliant Malta-based entity, including drafting the Memorandum and Articles of Association, shareholder agreements, and corporate governance structures.
Regulatory Compliance & Licensing Advisory
Our team provides comprehensive regulatory guidance, ensuring businesses meet MFSA and EU financial regulations, including AML, risk management, and PSD2 compliance.
Application Preparation & Submission Support
We handle the entire licensing application process, including document preparation, financial projections, compliance frameworks, and risk assessments to ensure a smooth submission.
AML & Cybersecurity Compliance
We help businesses implement KYC/AML procedures, fraud prevention mechanisms, and cybersecurity frameworks, ensuring full compliance with European financial security standards.
Banking & Payment Processing Integration
Our experts assist in setting up corporate bank accounts, integrating merchant payment solutions, and establishing third-party payment service provider relationships.
Ongoing Compliance & Reporting
We provide post-licensing support, ensuring businesses maintain quarterly and annual compliance filings, conduct risk assessments, and remain in good standing with the MFSA.
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