Brokerage license in Malta
Malta is a member of the European Union. In early 2004, it obtained the rights of a licensor to issue certificates for brokerage activities in accordance with EU standards and requirements. Obtaining a brokerage license in Malta is advantageous because the country maintains a high level of economy, hence the tax environment remains attractive for local citizens and non-residents.
The EU Directive on Passportization allows all owners of brokerage permissions from Maltese jurisdiction to expand their business throughout Europe by means of a simplified form.
How to obtain a brokerage license in Malta?
The licensing State makes the following demands and sets such conditions for the applicants:
- Organization-counterparty must have paid statutory fund in the amount of about 730000 euros. The exact amount can be found out during a personal conversation with the specialists of our company. The price of the fund depends on the number of financial instruments with which the client plans to work.
- Permission for brokerage activity in Malta is not issued without the presence of a legal office within the borders of the country. You can register a company by submitting a special package of documents to the office of Law&Trust. If you still do not have all the official documents, our lawyers will compile the package of documents for you on the basis of a power of attorney.
- Jurisdiction of Malta is responsible to verify the staff of the applicant organization for qualifications. There are special requirements for Directors regarding the length of employment and the specifics of work in the field of finance. Employees whose qualifications are in doubt should take special courses.
- It is mandatory to submit annual reports in accordance with Maltese law. All operators under the control of the broker must follow the recommendations for filling out the official forms.
In order to obtain free consultation on the legal norms of Malta, you can contact our lawyers.
Procedure for obtaining a brokerage license in Malta
- Consultation and collection of documents. Jurisdiction presumes a full examination of the company's activities, the instruments for working with stock exchanges, as well as the material condition of the beneficial owners and personal data about them. In view of this, complete package of documents is required, and the time for collection can not be predicted in advance, however, participation of the experts in this business will minimize the foregoing term.
- Registration of the branch and accounts. We are engaged in registration of a new legal entity in the territory of Malta, and also we can open an account with a local bank for contribution of the authorized capital.
- Submission of the application. Consideration is carried out by the Malta Financial Services Authority. This authority issues licenses of the second and third categories. The type of authorization is determined in advance depending on the objectives and strategy of the counterparty. Any of the licenses will be directly relevant for Forex and trading in other markets.
- Obtaining a certificate. Preliminary consideration takes about 1-2 months. This time is spent on the approval of the documentation and its examination. The next 6-12 weeks are necessary for the commission to decide on the issue of license. The whole process, together with the preparation of documents, can take up to 1 year.
How much does it cost to obtain a forex license in Malta?
The amount of the authorized capital that must be paid before obtaining a license depends on the category of the company. The cost of our services varies depending on the availability of your current business, the length of the list of documentation and other factors. Apply for advice to find out the exact price and get detailed answers to all questions regarding obtaining a brokerage license in Malta.