Malta Payment Service Providers

Licensed PSP with automatic right to service clients within EU

Malta Payment Service Providers


The number of Payment Server Providers (PSPs) licensed in Malta has seen significant growth over the last few years, and, alongside the thriving i-Gaming and e-Commerce industry, the Island has become the destination of choice for the set-up of Payment Server Providers.

PSPs may engage in various activities including: the execution of payment transactions, issuing and/ or acquiring of payment instruments, as well as money remittance.

Like other financial institutions, PSPs are not allowed to receive deposits or other repayable funds from the public and must use funds exclusively to provide payment services.






Country Highlights

GDP GROWTH: 6.3% in 2015 (EC) EU: Member of the EU & Eurozone
REGULATOR: Malta Financial Services Authority LEGISLATION:Fully compliant with EU directives & regulation
WORKFORCE: Well qualified, English speaking ACCESS TO THE EU: Passporting of licence into the EU
SIZE OF THE INDUSTRY: 25% Annual growth FINANCIAL SERVICES FRAMEWORK: EU and OECD approved


Legal Basis

PSPs are regulated in Malta under the Malta Financial Institutions Act (the “Act”) which transposes the Payment Services Directive (the “Directive”), specifically under Schedule II of this Act. Such licence holders are authorized and regulated by the Malta Financial Services Authority (the “MFSA”), the supervisor of all the financial services industry.


Benefits

  • Provide applicants with EU passport;
  • Effective Corporate and Personal tax rates;
  • Highly qualified persons benefits;
  • Accessible and independent regulator;
  • Doesn't have restrictions on activities.
  • Ability to open a branch in other european Member States


Eligibility

  • Obligatory local presence;
  • Settling licensing fee;
  • Follow all application documents;
  • Minimum capital varies from €50,000 to €125,000, depending on activities.


Process & Timeline




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Reference Materials

Key Contacts

Dr Maria Chetcuti Cauchi

Senior Partner

Mr Nicholas Warren

Senior Manager, Financial Services
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