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Payment Services Provider License (PSP) in Malta. Service offer

The number of Payment Service Provider (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.

Please see below the relevant licences together with the minimum capital requirements:

Type of License/Service
Minimum Initial Capital Requirement, in EUR
Services enabling cash to be placed on a payment account as well as all the operations required for operating a payment account
EUR 125.000
Services enabling cash withdrawals from a payment account as well as all the operations required for operating a payment account
EUR 125.000
Execution of payment transactions, including transfers of funds on a payment account with the user's payment service provider or with another payment service provider: (a) execution of direct debits, including one-off direct debits; (b) execution of payment transactions through a payment card or a similar device; (c) execution of credit transfers, including standing orders)
EUR 125.000
Execution of payment transactions where the funds are covered by a credit line for a payment service user: (a) execution of direct debits, including one-off direct debits; (b) execution of payment transactions through a payment card or a similar device; (c) execution of credit transfers, including standing orders
EUR 125.000
Issuing and/or acquiring of payment instruments
EUR 125.000
Money remittance
EUR 20.000
Execution of payment transactions where the consent of the payer to execute a payment transaction is given by means of any telecommunication, digital or IT device and the payment is made to the telecommunication, IT system or network operator, acting only as an intermediary between the payment service user and the supplier of the goods and services
EUR 50.000

Main requirements:

MFSA carries out a “fit and proper” test on shareholders, directors and senior staff members

Capital requirement of €50K-€125K depending on the service provided

Real presence / real office in Malta

Minimum of 3 directors with at least one of them being Maltese

Minimum of 2 local operational staff members, a local MLRO and Compliance officer

Stage 1 – Pre-Application & Submission of Application Stage

Assistance with submission of preliminary proposal to Malta Financial Services Authority (“MFSA”), drafting of application form, business plan, personal questionnaires and consultancy connected thereto. This stage ends with the submission of the application pack to the MFSA.

Stage 2 – Application Stage

Finalization of outstanding matters such as submission of signed copies of the revised application form together with supporting documents in their final format; liaison with MFSA in relation to any matter raised during the application process; liaison with other service providers for the completion of the process. This stage ends with the obtainment of the ‘in principle’ approval letter received from the MFSA.

Stage 3 – Pre-Licensing Stage

Liaison with MFSA, consultancy and finalisation of the pending requirements to enable licensing. This stage ends with the obtainment of the licence by the MFSA.

The minimum timeframe for obtaining of PSP license is 6 months.

Our Fees[1]

Service
Cost (EUR)
Stage 1 – Pre-Application & Submission of Application Stage
35000
Stage 2 – Application Stage
15000
Stage 3 – Pre-Licensing Stage
10000
Governmental Fees
3500
Company Incorporation in Malta incl. name reservation, preparation of initial set of corporate documents (not notarized or apostilled), gov. fees, courier, compliance fee for one UBO
7500
Share capital
from 50 000 to 125 000
Bank Account Opening Assistance
3000
Office space search service
from 5000
Rental of apartment
from 1200 / month
Rental of office space
from 2000 / month + VAT
Preparation of documents and registration of foreign employee employment
from 1200

[1] Fees indicated herein are valid on the date of sending this proposal. The fees do not include legalization, notarization, or translation of documents.

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168600 EUR
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