the right to make transactions on behalf of a client, place crypto assets, hold and control clients’ assets.
the right to make transactions on one’s own behalf and is not suitable for cryptocurrency exchanges.
The company must have a Compliance Officer and AML Officer.
A Risk Manager is required to be appointed.
All the persons must pass the fit and proper test.
The minimum amount of the authorized capital for a VFA Class 2 License is EUR 125 000 (for Class 1
the amount of the authorized capital starts at EUR 25 000 + PI; for Class 3 and 4 the amount of the authorized capital is EUR 750 000).
The Board of Directors must include at least two individuals.
An office in Malta is required.
Obtaining the license takes at least 4 months.
|
Service
|
Cost (EUR)
|
|
Assistance in obtaining a VFA Class 2 License
|
from 25 000*
|
|
State license application fee
|
10 000
|
|
Assistance in opening an account for companies whose business is connected with cryptocurrencies
|
from 6 000
|
|
Compliance fee
Payable in the cases of: - incorporation of a company, - renewal of a company, - liquidation of a company, - transfer out of a company, - issue of a power of attorney to a new attorney, - change of director / shareholder / beneficial owner, except the change to a nominee director / shareholder, - signing of documents. |
385 (standard rate, includes the check of 1 individual),
+ 165 for each additional individual (director, shareholder, or beneficial owner) or legal entity (director or shareholder) if such legal entity is administered by GSL, + 220 for each additional legal entity (director or shareholder) if such legal entity is not administered by GSL, 495 (rate for high-risk companies, includes the check of 1 individual), 110 (signing of documents). |
*Provided that lawyers’ work does not take more than 48 hours. Services for company incorporation and administration, search and employment of workers, office lease and other additional services and expenses are not included.