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Malta PSP License Application

Updated:2018-5-2 14:19:05    Source:www.tannet-group.comViews:65

Malta PSP license application is one of the new high-end service of Tannet’s China Expats Service Center. PSP refers to payment service provider and a license is required in order to provide merchant accounts to merchants who want to accept payments and process them. The Maltese entity has to be formed as it shall be the applicant for the license. A holding company is generally advisable for tax efficiency purposes.

Activities falling under the remit of a financial institutions
The following activities are licensable and can be carried out in and from Malta by Financial Institutions once a license is obtained from the Malta Financial Services Authority. If the activities you wish to engage in are not all herein listed, they might either not require a license or require a specific license under another legislation.

1. Lending (including personal credits, mortgage credits, factoring with or without recourse, financing of commercial transactions including forfeiting);
2. Financial leasing;
3. Venture or risk capital;
4. Payment services.
5. Issuing and administering other means of payment (travelers’ cheques, bankers’ drafts and similar instruments) in so far as this activity is not covered by point 4 above;
6. Guarantees and commitments;
7. Trading for own account or for account of customers in:(a) money market instruments (cheques, bills, certificates of deposits and similar instruments);(b) foreign exchange;(c) financial futures and options;(d) exchange and interest rate instruments; and(e) transferable instruments
8. Underwriting share issues and the participation in such issues; and
9. Money broking.

Funds Requirements
PSPs licensed to carry out the above-listed activities are subject to the following initial capital requirements:

(1) Where the institution only provides money remittance, its capital shall at no time be less than 20,000;
(2) Where the institution provides services related to the execution of payment transactions where the consent of the payer to a payment transaction is transmitted by means of any telecommunication, digital or IT device and the payment is made to the telecommunication, IT system or network operator, acting solely as an intermediary on behalf of the payment service user and the supplier of the goods and services, its capital shall at no time be less than 50,000;
(3) Where the institution provides any other service, its capital shall at no time be less than 125,000.

Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website www.tannet-group.net, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.

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