Malta Virtual Financial Asset (VFA) License
Desfran provides a turnkey solution for financial licensing. To facilitate your process of applying for a Malta Virtual Financial Asset (VFA) license, we will:
- Promote your application to Malta regulators
- Assist with answering questions regarding the application process and requirements
- Draft and review application documents and questionnaires
- Follow up with the application and ensure the submission of additional information required by the related department of Malta
Class 1 VFA License – Authorised to receive and transmit orders and, or provide investment advice in relation to one or more virtual financial assets and, or the placing of virtual financial assets.
Class 2 VFA License – Authorised to provide any VFA service and to hold or control clients’ funds, but not to operate a VFA exchange or deal with their own account.
Class 3 VFA License – Authorised to provide any VFA service and to hold or control clients’ funds, but not to operate a VFA exchange.
Class 4 VFA License – Authorised to operate a VFA exchange and to hold or control clients’ funds, virtual financial assets and, or private cryptographic keys and custodian or nominee services solely in relation to the operation and activities of such VFA exchange.
Class 1 VFA License – EUR 50,000 or EUR 25,000 with Professional Indemnity Insurance/ VFA Insurance
Class 2 VFA License – EUR 125,000
Class 3 VFA License – EUR 730,000
Class 4 VFA License – EUR 730,000
If the applicant is a natural person, physical presence in Malta is required. Where the applicant is a legal person, it may be constituted in Malta, or, if constituted abroad in a recognized jurisdiction, it shall establish a branch in Malta.
Desfran shall seek to understand your business activities and goals to assist with your business plan drafting that best encompasses this whilst still being compliant to the prevailing regulations. Desfran shall also advise on the possible questions that might be posed by the regulator.
|Requirements and Other Information|
Due Diligence is necessary to formally verify the identity of all clients of the firm. The following documents are required to conduct due diligence for the license application:
Please note for a company listed on a major stock exchange or subject to regulatory supervision in a country with equivalent AML regulations to Malta, evidence of such listing or regulation will suffice in place of the above information. Where the directors to be appointed are employees of such a listed or regulated company, a certified passport copy and confirmation of employment (to include position) will suffice.
The Malta Financial Services Authority (MFSA) is the single regulator of financial services in Malta. The MFSA regulates banking, financial institutions, insurance companies and insurance intermediaries, investment services companies and collective investment schemes, securities markets, recognized investment exchanges, trust management companies, company services providers and pension schemes. Since 2018, it is also responsible for regulating Virtual Financial Assets.
Desfran assists with the complete licensing application. Contact us to find out more about Malta company registration and forex license application. Our team of experts will get back to within the next business day.