Opening an Electronic Money Institution (EMI) or aPayment Service Provider (PSP) company in Malta requires obtaining a specific license from theMalta Financial Services Authority (MFSA). In this article, you will find out the main requirements for obtaining this license, with the full range of services offered by our specialists in company formation in Malta.
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What are the conditions for obtaining an EMI/PSP license in Malta?
Let’s review some of the main requirements for getting an EMI/PSP license in Malta:
- Business formation – Before applying for an EMI/PSP license, a company must be incorporated, with a business address in Malta. Usually, foreign and local entrepreneurs choose the limited liability company or the joint stock company in Malta.
- License fee – Once the company is registered, the representative must pay the license fee: EUR 350,000 for an EMI license or EUR 125,000 for a PSP license.
- Due diligence – The “Fit and Proper” Assessment is imposed. This involves a strict evaluation of shareholders and company managers to confirm their expertise.
- Business plan – A 3-year business plan is mandatory for opening an EMI/PSP company in Malta. This plan must also provide information about how the client’s funds are protected.
- AML policies – Another important condition in setting up an EMI/PSP company in Malta is implementing the Anti-Money Laundering policies.
Having these formalities and procedures prepared, it follows that the MFSA will check the applicant’s file and issue pre-approvals if everything is in order. If there are no other conditions involved in the process, the license can be issued, and the EMI/PSP company in Malta can start the activities. You have at hand personalized assistance from our agents with experience in setting up a company in Malta.
Reasons to open an EMI/PSP company in Malta
Foreign and local entrepreneurs have many reasons to open an EMI/PSP company in Malta:
- a reputable business jurisdiction with clear and transparent laws,
- quality technological infrastructure,
- quality workforce,
- a great tax system and many more.
Setting up an EMI/PSP company in Malta is not a complicated process, especially if you have expert help at hand, as our Maltese agents can offer. Contact us to find out more about the services we offer.
What is a payment gateway provider?
A payment gateway provider is an internal platform that allows secure online payments. Basically, this happens when the customers of a site pay for a service or product, and their money will be transferred to the merchant account of that site. You will need an electronic payment license in Malta to activate this type of service. Here is some other interesting information about payment gateway providers:
- It is a cloud-based software platform that connects customers and the site in case of online payment.
- Financial transactions are processed on a point-of-sale or POS basis when the card is paid.
- An on-site merchant account is required to be able to pay online. It is connected to a bank that allows those payments.
- Payment gateway provider can analyze the card with which the payment is made, and will send encrypted information to the merchant account.
- The payment gateway provider can also analyze if the card has enough funds to complete the transaction.
These are just some of the goal-setting shareware that you can use. For more information, we invite you to talk to one of our local agents in Malta.
How to become a gateway provider in Malta
Some software is required to implement payment gateway providers in Malta. Here are some possibilities you have at hand:
- Implementing CMR or Customer Relationship Management.
- Integrating a payment system or processor.
- Hosting the gateway on a third-party server
In addition, you should consider international money transfers for which payments in foreign currencies should be allowed. You can discuss more about payment gateway providers in Malta and Maltese electronic payment license with our specialists.
Advantages of the payment service provider in Malta
Regarding the advantages of the payment service provider for business, we present some of them:
- Foreign currencies are accepted. This allows the sale of products and services internationally.
- Various payment methods are allowed, using a single channel.
- Other payment methods can be added in real-time, which is a great benefit for businesses of any kind.
- Financial transactions are secured with encryption and other specific programs.
- Cards used for online purchases are checked during the transaction to prevent financial fraud.
How can you be helped by our Maltese agents?
Setting up an EMI/PSP company in Malta requires comprehensive attention to all the procedures involved. The process begins with the formalities required by the Trade Register in Malta that must be completed. Foreign entrepreneurs can be helped in the following ways:
- company incorporation in Malta,
- opening a corporate bank account,
- applying for an EMI/PSP license and post-licensing support,
- assistance in regulatory reporting,
- risk management for your company in Malta,
- international tax planning & advisory for your EMI/PSP company in Malta.
About the financial sector of Malta in a few lines
Here are some interesting facts about one of the strongest financial centers in the world, Malta:
- the financial sector of Malta contributed to the country’s economic growth by over 8.2% in 2024;
- around EUR 14,169.8 million represented the net financial wealth of the resident economy at the end of December 2024.
Interested in setting up a company in Malta and getting the EMI/PSP license? We invite you to contact our specialists in company incorporation in Malta and find out all the details about our services and our personalized offers.