MaltaUnderstanding the EMI License in Malta: A Gateway to Fintech Innovation

November 8, 2023by Tetra Consultants0
  • With one of the lowest effective corporate tax rates in the European Union. Malta has become one of the attractive locations for those entrepreneurs willing to serve in the fintech industry by obtaining an EMI license in Malta.  
  • However, Malta also benefits family businesses by building relationships with startups through open innovations. Moreover, Malta has been emerging as a hotspot for the high number of Electronic Money Institutions (EMIs) that have passporting rights within the European Union and emerging as an alternative brick-and-mortar banking solution.  
  • Malta has been positioning itself as an alternative finance hub to propel the growth of its fintech ecosystem. Additionally, Mastercard alliancing with FinanceMalta has enhanced the efforts in the development of Malta’s payment ecosystem. Thus, providing a great scope of opportunities for fintech innovation.  
  • Likewise, the regulatory environment of Malta continues to be at the forefront of technology regulation and fintech. With one of the most progressive regulatory environments, Malta governs payment institutions and EMIs through the Banking Act, 1994 and the Financial Institutions Act of 1994. With Tetra Consultants’ engagement, you can be sure of all the compliances required to be completed within the stipulated period. Thus, to register company in Malta can be beneficial for entrepreneurs. However, Malta is a small country that has faced many challenges in Kick-starting a high-value-added innovative ecosystem compared to larger countries.  
  • To obtain a Malta EMI license. You must be required to apply to Malta Financial Services Authorities (MFSA). Also, the company will be subjected to having a specialized corporate bank account with specialized banking facilities, such as client safeguarding accounts. Our team at Tetra Consultants can help you with corporate bank account opening and can provide you with an operational account in 4 weeks after engagement which will be a very hassle-free and seamless journey for our clients.  

Procedure to obtain EMI license in Malta 

Here is a step-by-step guide to obtain EMI license in Malta 

Step 1: Preliminary meeting with MFSA 

  • An applicant entity is needed to register themselves with the MFSA. At this stage, Tetra Consultants can help you to file the basic due diligence documents of the perspective business owner, directors, shareholders, and personnel to be appointed for key roles.  
  • Tetra Consultants ensures that all the documents are reviewed, and due diligence is properly conducted so that MFSA will grant principal approval.  

Step 2: Formation of Maltese trading company 

  • Once the principal approval is granted Tetra Consultants expert will proceed with the preparation of the formation of a new business entity in Malta. Our experts will thoroughly analyze the relevant situations and business goals to recommend the most suitable type of business.  
  • Tetra Consultants will help you through our offshore company registration which makes the whole process seamless and quick.  

Step 3: Specialized corporate bank account 

  • To obtain an EMI license in Malta, Tetra Consultants can help individuals to have a specialized corporate bank account through our corporate bank account opening services which will also provide you with the specialized banking facilities which facilitate the EMI licensing transactions. These specialized corporate bank accounts are required for security purposes.  
  • You can rely on Tetra Consultants for corporate bank account opening. Our team is well-equipped with the knowledge and experience to make your service experience the best.  

Step 4: Application and processing fees 

  • The financial institutions obtaining EMI licensing are subjected to file application and processing fees with the Malta Financial Services Authority (MFSA). The fee generally is €3,500 but may vary depending on the change in law or business activity and entity.   
  • Our team at Tetra Consultants is there to help you with obtaining of EMI license without troubling you with our offshore financial license services.  

Step 5: Minimum local presence requirements 

  • To obtain EMI license in Malta, there are few minimum requires to be followed which includes: 
  • A minimum of two directors with a mix of executive and non-executive directors. 
  • Directors and shareholders to be individuals only. 
  • At least two individuals must effectively direct the licensed entity’s business in Malta. 
  • There is no specific residency requirement for directors and shareholders of an EMI in Malta. 
  • Individuals involved in the management of EMI must have a good reputation and be able to demonstrate their competence and experience in the financial services industry through a fit and proper test.  
  • After completing this process, the company can proceed with the further steps of incorporation. During the incorporation, if there is any local director or shareholder then Tetra Consultants can provide them with those services through ours nominee director and shareholder services 
  • There may require many more minimum requirements depending on the functioning of the financial institutions, Thus, Tetra Consultants can guide you regarding the minimum requirements to obtain an EMI license in Malta. Our experts are well-experienced and will surely provide you with satisfactory results.  

Step 6: Share capital 

  • To obtain an EMI license in Malta, the company is subjected to have a minimum share capital which amounts to €350,000. This implies that the companies planning to apply for EMI licenses are subject to having sufficient funds to meet all the requirements.  

Step 7: Licensing process 

  • A further process of licensing involves the submission of an application that provides information regarding the financial institutions applying for the license, including its ownership structure, management team, business plan, and financial projections. However, applications are also required to add information regarding management qualifications, experience, and fit and proper status.  
  • Once all the details are successfully filled and assured by the MFSA the EMI license will be issued which will have a validity of 12 months and can be renewed annually.  
  • The procedure may also require legal documentation of the company which can be drafted by our experts at Tetra Consultants.  

Documents required to obtain an EMI license in Malta 

Documents required to obtain an EMI license in Malta may vary depending on the specific circumstances of the financial institution applying for the license. It is also important to note that MFSA can also demand extra documents for verification. Thus, the generalized list of documents is as follows:  

  • Documents describing program of operations and type of activities to be undertaken by the applicant entity. 
  • Corporate and incorporation documents of the newly formed entity 
  • Copies of passports and resumes of the participants 
  • A detailed business plans 
  • Personal questionnaires of the individuals involved in the management of the EMI 
  • Evidence of the minimum share capital requirement of €350,000 
  • Evidence of a specialized corporate bank account with specialized banking facilities, such as client safeguarding accounts. 
  • Information on the ownership structure and management team of the financial institution applying for the license. 

How is EMI license acting as a gateway to fintech innovation in Malta? 

  • Malta is a pool of talent in both technology and finance which makes it an attractive spot for fintech companies. The supportive ecosystem provides for disruptive technologies in Malta making it a fintech innovation hub. Thus, fintech innovations are at their peak in Malta making it an appropriate time for Malta company registration for operating their fintech company.  

EMI licenses are acting as a gateway to fintech in Following ways: – 

  • Empowering payment services: EMI offers faster, practical, and user-friendly payment solutions through Internet banking, e-wallets, and digital currencies which are gaining popularity and are at boom in this digital age.  
  • Issuance of E-money: EMI additional authority is eligible to issue electronic money under EU Parliament’s Directive 2009/110/EC. This enables the EMI’s to provide innovative access to core financial services across several industries.  
  • Facilitating cross-border transactions: Through EMI there has been created an alternative method of transferring money and access to vital payments facilitating cross-border. This increases the scope of EMI licensing.  


  • Contact us to know more about Malta company registration and to obtain EMI license in Malta. Our team of experts will revert within the next 24 hours. Tetra Consultants provide services that might help you with business growth and expansion and also provide seamless assistance to companies expanding business operations. We provide a wide range of services to provide a comprehensive range of services to satisfy our client’s needs. Our services include offshore company incorporation, obtaining offshore financial licenses, international trademark registration, nominee director and shareholder services, regulatory compliance consulting, and other ancillary services.

Tetra Consultants

Tetra Consultants is the consulting firm that works as your advisor and trusted partner in your business expansion. We tell our clients what they need to know, instead of what they want to hear. Most importantly, we are known for being a one-stop solution for our valued clients. Contact us now at for a non-obligatory free consultation. Our team of experts will be in touch with you within the next 24 hours.

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