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License for E-money in Malta
Maltese offshore jurisdiction offers the formalization and issuance of official licenses for the legal use of virtual currency for all citizens of the country and non-residents of the state. The concept of "non-cash settlement" today includes not only transactions from one card to another one.
Availability of an electronic wallet in course of financial interaction with a website or corporation considerably expands target audience and raises loyalty of potential users. Only local legal entity has the right to obtain license for electronic money in Malta, in view of which each applicant is required to establish a branch or representative office in the territory of the country.
How to get permission for virtual money in Malta remotely?
Remote application implies cooperation with a legal company that will assume all obligations for negotiations and correspondence with representatives of foreign jurisdictions. The client of Law&Trust can submit application for obtaining the certificate from any country.
The initial exchange of documents is carried out by fax or mail. The application can be left in the form of feedback or in online chat. Further, the specialist of the legal sector will contact you to clarify the information.
Procedure for obtaining license for electronic money in Malta
Consist of:
- The first consultation. Conversation with the lawyer will help to identify all possible obstacles to licensing the company, as well as to ascertain the benefits of the chosen jurisdiction. Work plan and extent of the client's involvement in the process are also drawn up during the consultation, which speeds up further progress.
- Collection of documentation. According to the provided business plan, the lawyer determines the need for certain package of documentation, and also specifies the amount of the authorized capital of the enterprise being established. Jurisdiction of Malta requires a standard package of documents, but depending on the period of existence of the corporation and its reputation, additional evidence of the company's material security and condition may be needed.
- Preparation of documents. Law&Trust carries out professional translation and official certification of all forms. Experts verify the existence of inconsistencies and eliminate them within a short time.
- License for electronic money in Malta online is examined by the commission with the period from three to five months. Particular attention is paid not only to the package of documents, but also to the office, as well as to the personnel of the new enterprise. Permission is granted only after the experts are convinced of the honesty of the company's policy
The cost of license for electronic money in Malta
All expenses for issuance of permission are conventionally divided into fixed and variable. The first category includes
Category
- the amount of fee for registration of the bank account and the contribution of the authorized capital;
- the amount of annual fee for the use of license for electronic money;
- financial resources needed to pay for the services to consider the application.
The prices for establishing corporation and the amount of the nominal capital are variable. The cost of establishing the firm depends on its organizational form, as well as its scale. The level of the statutory contribution increases with the number of instruments used by the counterparty in operation with the target audience.
Our specialist can compile a full cost estimate when obtaining license. Lawyers send results to your e-mail or specify them during negotiations. The company maintains the confidentiality of all data and offers full legal support for the corporation after receiving certificate for electronic money in Malta.
