Malta Electronic Money Institutions

GDP GROWTH: 7.5% in 2018 (EC) EU:Member of the EU & Eurozone REGULATOR:Malta Financial Services Authority UNEMPLOYMENT RATE:3.7% in 2018 (EC) WORKFORCE:Well qualified, English speaking ACCESS TO THE EU:Passporting of licence into the EU SIZE OF THE INDUSTRY:25% Annual growth FINANCIAL SERVICES FRAMEWORK:EU and OECD approved

• Provide applicant with EU passport;
• Effective Corporate and Personal tax rates;
• Highly qualified persons benefits;
• Accessible and independent regulator;
• Has no restrictions on activities.

EMIs in Malta are regulated under the Malta Financial Institutions Act (the “Act”) which transposes the Electronic Money Directive (the “Directive”), specifically under Schedule III of this Act. Like other financial institutions, EMIs are not allowed to receive deposits or other repayable funds from the public and must use funds exclusively to provide e-wallet functionalities. Licenced EMIs can also provide payment services under the same Act as per the Payment Services Directive.

• Local presence of all applicants;
• Settling application fee;
• Have all reqiered application documents;
• Minimum capital for Small EMIs is €50K-€100K and for Regular EMIs is €350K.