Financial services in Malta. Support and assistance to obtain a license

FINANCIAL SERVICES IN MALTA

Malta is an important European financial centre that combines high standards of regulation and the strict application of laws with a commercial vocation.

The financial services sector has achieved a rapid growth since 2004, after joining the European Union and the isle has structured a sophisticated and flexible financial system.

Thanks to this vision, many companies have chosen Malta as their headquarters, including hedge fund, insurance captives, fund managers, investment service providers, lenders, insurance brokers and forex traders of various types. Malta, as an EU member, ensures high regulatory standards granting reputation added to Malta as a European financial services hub. At the same time, Malta boasts set-up procedures, lows operating costs and tax rates, while still complying with European standards.

Finance Service Licence in Malta

In Malta, the following types of licenses for financial services are provided:

Investment licenses
Bank licenses
Financial institutions licenses
Insurance licenses

The Investment licenses are part of Services Act of 1994 laws that rules the granting of Maltese licenses, for investment services companies and collective investment schemes. There are also three types of collective investment schemes in Malta:

Retail systems;
Private collective investment schemes;
Professional investor funds (PIF).

Banking law regulates the establishment of credit institutions and electronic money. The same legislation also establishes the requirements for the establishment of credit institutions and other financial institutions.

Insurance companies fall under the business insurance law. The law of insurance intermediaries regulates the licensing of insurance brokers, agents and managers.

How to get a Finance Service License in Malta.

To obtain a Finance Service License, Maltese companies have to satisfy MFSA requirements. The phases to get this License are:

Preparatory phase;
Pre-licensing phase;
Post-licensing phase.

The preparatory phase refers to a MFSA meeting, where the company and the MFSA representatives will discuss about the procedure for the application and the documents to be presented for the license. During pre-licensing phase, MFSA will approve the issuance of the concession for the financial service, under which the investor can register the company with the Malta Trade Register. The post-license phase refers to all the other needs that can be necessary to obtain the license.

Assistance and advice for financial services

We are able, through selected partners authorized by MFSA, to assist our clients with a big range of pre-licensing services. We help our customers to choose the best Service Provider to prepare all the application documents and to manage the correspondence with local authorities. We can also assist clients in post-licensing phase and offer some advices about different companies’ types, tribute effects and sector laws.

Our partners, specialist in financial services, have acquired a considerable experience and know-how during their work within the scope of the assignments conferred in the regulatory framework of Malta. They are also able to give a complete and reliable advice for Financial Regulatory.