E-Money license Malta

EMI license Malta

The Republic of Malta is one of the top three countries by the number of issued EMI licenses. Increased interest in this jurisdiction and the status of e money license Malta is caused by certain factors, among which are the single European passport, tax preferences, loyal attitude to foreign investors, and all-round active government support to suppliers and users of financial services.

Information about EMI licenses. For any legal activity associated with the provision of any payment services in the EU, the organization must obtain the relevant permission — the payment license of the Financial Institution level. EMI license is required when operations involve electronic payments.

• Electronic Money Institution or EMI is a license allowing one to manage/operate such an asset as electronic money. In particular, permission is required to operate payment systems and arrange payments via electronic wallets. An EMI license also gives the right to issue e-money.
• E-money, or electronic money, is an alternative to cash. It is assets stored electronically and on an electronic medium. Like physical money, it can be used for trade, exchange, and various payment transactions (transfers).

EMI licensing implies the submission of a corresponding application in the official form to the designated regulatory authority. In Malta, the Malta Financial Services Authority is responsible for licensing (authorization) and supervision of financial institutions.

Rules on the operation of companies-holders of e money license Malta shall be governed by the EU directives and regulations of MFSA. The regulations provide conditions for the active promotion of the FinTech sphere and increase the security of payments.