Establishing a financial company in Malta presents a strategic opportunity within the European Union, governed by the Malta Financial Services Authority (MFSA). This regulatory body oversees a diverse range of financial activities, including investment companies, trusts, and insurance providers, while also managing the Maltese Registry of Companies.
Understanding Financial Services in Malta
Malta’s regulatory framework under the MFSA ensures transparency and stability for financial entities operating within its jurisdiction. Companies benefit from a supportive environment that encourages innovation and compliance with international standards.
Applying for a Financial License
Obtaining a financial services license from the MFSA is a prerequisite for both foreign and local investors looking to establish financial institutions in Malta. Key requirements for obtaining a license include:
- Sufficient Own Funds: Each company must demonstrate adequate capitalization based on MFSA assessments.
- Corporate Governance: At least two individuals must be appointed to direct operations within Malta, ensuring effective management and oversight.
- Prudent Management: Shareholders are required to uphold principles of cautious and responsible management.
To initiate the establishment of a financial company in Malta, the following documentation is typically required:
- Articles of association outlining the company’s structure and objectives.
- Proposed share capital and details of shareholders.
- Comprehensive business plan detailing operational strategies and financial projections.
- Description of internal controls and risk management policies.
- Audited financial statements from the previous three years.
- Copies of passports for all shareholders, directors, and appointed company representatives.
- Registered office address within Malta.
Navigating these requirements can be complex, but an experienced legal team in Malta provides tailored guidance and support throughout the entire setup process.
NACE Codes for Financial Services in Malta
Upon registration, it is essential for Maltese financial companies to select the appropriate NACE code from the Nomenclature of Economic Activities (NACE). This classification system categorizes economic activities within the EU, ensuring clarity and consistency in regulatory compliance. Relevant NACE codes for financial services in Malta include:
- 65: Financial intermediation
- 65.1: Monetary intermediation
- 65.11: Central banking
- 65.21: Financial leasing
- 65.22: Credit granting
- 66: Insurance and pension funding
- 66.01: Life insurance
- 66.02: Pension funding
- 66.03: Non-pension funding
- 67: Activities auxiliary to financial intermediation
- 67.11: Administration of financial markets
- 67.12: Security broking and fund management
Expert Guidance for Establishing Your Financial Company in Malta
Establishing a financial company in Malta requires meticulous planning and adherence to regulatory guidelines set by the MFSA. Legal experts specialize in navigating the complexities of financial company formations, ensuring compliance with local laws and regulatory requirements.
By leveraging Malta’s robust financial infrastructure and strategic advantages within the EU, your company can access a broad market while benefiting from a supportive regulatory environment. Whether you’re expanding an existing financial service or starting anew, our team is dedicated to facilitating a smooth and efficient setup process.
