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Cryptocurrency License in Malta

Today, Malta represents an attractive jurisdiction for companies providing cryptocurrency-related services. This is largely due to the adoption of bills in 2018 that regulate cryptocurrencies, Initial Coin Offerings (ICOs), requirements for crypto projects, as well as the procedure and conditions for obtaining a cryptocurrency license in Malta.

The control of this field of activity falls under the competence of the Malta Financial Services Authority (MFSA). This body is also responsible for licensing cryptocurrency exchanges.

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Steps

01

Company Registration in Malta

A local company must be registered to which the license will subsequently be issued. This includes selecting a company name, identifying shareholders, and providing their documents.

02

Opening a Bank Account

The company must open a bank account to deposit the share capital. Opening a bank account is a complex process that should be entrusted to professionals. This requires gathering a package of documents and conducting negotiations properly.

03

Contribution of Share Capital

The exact amount of share capital depends on the type of license. If necessary, the beneficiary must provide documents confirming the source of funds contributed as share capital.

04

Hiring Mandatory Staff

The company must employ staff for key positions, some of whom must be local residents. We assist with the recruitment and hiring process.

05

Office Rental

One of the mandatory requirements is renting an office. We will find a cost-effective option that meets the requirements.

06

Preparation of Application Documents

A business plan and policies must be prepared, as well as completed application forms. Only basic information will be required from the client, and we will prepare all documents in compliance with local laws.

07

Application Submission

Once the company and documents are ready, the application is submitted to the regulator. After submission, be prepared to respond to additional regulator questions. We will ensure timely and accurate responses.

08

Obtaining the License

After successfully completing all previous stages, the company receives its license. However, it must start operations within six months of issuance, otherwise the license may be revoked.

Types of Cryptocurrency Licenses in Malta

If you are interested in licensing a Maltese company, you should first determine the class of license. Each class authorizes specific services, and the complexity of obtaining the required permit depends on it.

There are four classes of cryptocurrency licenses in Malta:

  1. Receiving and transmitting orders, providing investment advice regarding Virtual Financial Assets (VFAs).
  2. Operations with funds, excluding exchange trading or proprietary trading.
  3. Any operations except exchange and proprietary trading. Holding and controlling client funds is permitted.
  4. All cryptocurrency operations, including those involving client funds.

The licensing cost directly depends on the class. Payment is made in two parts — a one-time fee and an annual fee required to renew the license. One-time fees range from €3,000 to €12,000, while annual fees range from €2,750 to €25,000.

Requirements for Obtaining a Cryptocurrency License in Malta

First, you need to register a legal entity in the form of a Private Limited Liability Company with a minimum share capital of €1,165, of which 20% must be paid immediately. A rented office in Malta is mandatory. The company must employ at least two directors, an AML officer, a risk manager, and an auditor.

Once the above requirements are met, to apply for and obtain a cryptocurrency license in Malta, you must prepare the documentation required for submission to the MFSA. The exact list of documents may vary, so we recommend contacting our specialists for a detailed consultation.

They will provide full support with any questions and handle the licensing process of your company in Malta. To order the service and receive personalized consultation, contact us via the listed phone numbers.

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Free initial consultation on legal issues, related to the daily activities of the business

Additional services

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Cryptocurrency exchange license in Estonia

Many companies whose activities imply working with crypto wallets and cryptocurrency exchanges give preference to Estonia for licensing. In this small country, you can profitably launch a cryptocurrency exchange, in particular, due to the minimum rate of corporate income tax — 0%.

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Cryptocurrency exchange license in Switzerland

Switzerland is not only one of the world's financial centers but also a pioneer in the development of the crypto business. Back in 2014, the Confederation fixed the legal status of non-fiat currencies. The legal recognition of crypto assets launched the active development of the financial market trading in digital currencies.

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Frequently Asked Questions:

The final cost of obtaining a cryptocurrency exchange license in Malta depends on various factors (the exact list of future services, the region of operation of the exchange, etc.). You can find out the exact cost by consulting our specialists.
A bank account is required to deposit the share capital.
The timeframe for obtaining a cryptocurrency license depends on how quickly all the necessary steps are completed, how fast a bank account is opened by payment institutions, and how quickly the regulator reviews the application. The review period can take 6–9 months.
A cryptocurrency exchange license in Malta is indefinite. However, periodic reports must be submitted, and the company must adapt to regulatory changes. The company must commence operations within six months of receiving the license.

Contact
info

+85281926676

info@incluence.net

Rm 7B, One Capital Place, 18 Luard Road, Wan Chai, Hong Kong

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