How can we help?
- Initial review of a proposed business model and provision of legal advice on regulatory matters
- Assistance in the preparation and submission of licence application documents
- Management of the application process and liaising with the MFSA until completion of the said process
- Assistance in the preparation of internal policies and customer agreements
- Legal advice in relation to ongoing regulatory matters that may arise following the commencement of the licensed service provider’s operations
Malta has established itself as an attractive domicile for financial services providers. its success in attracting financial services business may be attributed to several key factors.
Malta’s financial services legislation is comprehensive, robust and fully compliant with European Union requirements and international standards. Malta’s legislation comprises a broad framework regulating the formation, licensing and operations of various financial services providers, including collective investment schemes, investment services providers, banks, electronic money institutions, payment services providers, insurance companies, trustees and fiduciaries, and company service providers.
Malta remains a cost-effective EU domicile for financial services providers, with both set-up and ongoing costs being generally competitive. In addition, whilst Malta’s professionals have gained a reputation for thoroughness and high professional standards, fees have remained comparatively low.
The Malta Financial Services Authority (MFSA) is the singular domestic financial services regulator. The MFSA is widely acknowledged and credited for its accessibility and its proactive approach to business. Applicants for a licence are actively encouraged to approach the MFSA at an early stage of the application process with a view to procuring guidance as regards the most appropriate structure and an early indication of acceptability and applicable licence conditions. The MFSA is nevertheless appropriately rigorous in its consideration of any licence application.
Malta’s status as a Member State of the European Union adds credence to the jurisdiction and its laws and gives financial services consumers further security and peace of mind. As a result of Malta’s membership of the European Union, certain Maltese financial services operators may also be entitled to access the European Union market without any further licensing requirements in any host Member State via harmonised passporting frameworks.
Technology has also changed the way financial services are being provided. Over the last decade, the use of technology in the financial industry has increased significantly. For further information about fintech, please access our Fintech page.
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