Electronic Money Institutions
The rapid development of technology has ushered a new era of money. Electronic money is today taken as a given and is taking many different shapes and forms, from cards to electronic wallets to cryptocurrencies to tokens. Regulation is keeping up with these developments and financial institutions need clear regulatory roadmaps, licensing expertise and compliance advisory. Failure to keep up with the changes can determine one’s survival.
Malta offers an attractive licensing jurisdiction for electronic money institutions. Forming part of a broader licensing framework, Malta offers a cost-effective jurisdiction for companies willing to obtain a pan-European licence for electronic money institutions with the potential of penetrating a 500 million consumer market.
At Seed, our team of experts are well-positioned to support you throughout the way. Our team of seasoned professionals with deep regulatory knowledge and working experience support companies as they navigate the licensing process. Able to develop or review documentation, Seed’s team knows what is expected by regulatory authorities. We are able to understand the business model and introduce the required policies and procedures. Having knowledge of the respective laws and regulations allows us to add value throughout the regulatory and licensing process. Seed offers a deep understanding, a clear process and disciplined execution.
Malta’s electronic money licence is passportable across all EU/EEA Member States opening up a market of 500 million customers
Minimum initial capital requirement of only €350,000 benefitting from a quasi-banking licence
EMIs are allowed to issue debit cards but not credit cards since such institutions are not permitted to undertake lending
EMIs based in Malta are allowed to outsource services subject that these do not constitute material outsourcing
Seed’s team have deep knowledge and understanding of regulations and the regulatory process having worked for the Maltese regulator