Several jurisdictions in the EU issue work permits for crypto organizations. Many such firms prefer the Malta crypto license. Today we want to discuss the features of regulation of the crypto industry in this jurisdiction, as well as tell you how to get a work permit in the shortest possible time.
Many perceive Malta as a very profitable offshore zone where you can profitably obtain a work permit. It has a tax treaty with 70 countries worldwide, allowing you to work legally in most EU countries. However, we advise you to pay attention to the crypto regulations in Malta and carefully study all the points. You can contact our company’s specialists, who will answer all your questions and help you get a work permit faster and easier.
Today we want to discuss the features of regulation of the crypto industry in this jurisdiction, as well as tell you how to get a work permit in the shortest possible time.
Malta is one of the few EU countries that has established well-thought-out and logical requirements for regulating the crypto industry. Today, the activity of this market is regulated by several vital documents:
These laws state that for every crypto organization that wants to obtain permission to operate in this jurisdiction, you must install systems to prevent money laundering and terrorist financing. You must also comply with other rules and regulations governing digital financial assets. It is challenging for a person without a legal education to understand these legislative acts, so you should seek help from the specialists of our company, who will tell you what you need to pay attention to in the first place.
Crypto regulations offer one of 4 types of licenses:
Which class you choose depends on the number of fees and annual fees. The more services you plan to provide and the larger the authorized capital, the more you will be forced to pay. If you need help understanding which type of cryptocurrency license in Malta is right for you, we advise you to contact our specialists for assistance. They will analyze your company’s activities and suggest which is right for you.
To get a crypto license in Malta, your organization must meet specific requirements. If you are willing to work honestly and openly, no problems should arise. Among the main conditions are the following:
In addition, your organization should not have employees who have a criminal record in the past. All employees must have specialized education and work experience in a relevant position. They must have an excellent reputation.
When you apply for a work permit, your organization must pay a state fee of 24,000 euros, regardless of the size of your organization.
Many hackers are operating in the crypto market, so you should consider tools to protect assets and customer data. Please use encryption or other more reliable tools. You can separate your organization’s assets from client assets, which will allow you to make your firm’s operations more stable and protect your finances from hacker attacks.
At least once a year, your organization must submit a report on its activities and undergo a comprehensive audit by an independent firm. Government agencies will carefully study your organization’s activities throughout the year and, if they notice errors, may refuse to renew your license.
Each organization with a crypto currency exchange license must pay an annual monitoring fee. The amount of this fee depends on the income of the firm. If it exceeds one million euros, it will amount to 50 thousand euros; and if it exceeds the specified amount, it will be 55 thousand euros. At the moment, less than 20 crypto organizations have received permission to work here.
Obtaining a cryptolicense is quite an expensive process. You need to register an organization here, deposit money into a bank account as an authorized capital, pay state fees and pay for the services of lawyers. If you want to know the exact cost of obtaining a work permit, you can contact the specialists at our company. They will tell you the precise cost of such a service.
After you receive a crypto exchange license in Malta, your organization is required to pay taxes regularly. This jurisdiction has a reasonably complex taxation system, and you need to pay the following fees:
The corporate tax in this jurisdiction is the highest among all EU countries; however, there are many benefits, thanks to which you can save a lot.
You can contact our organization’s specialists if you find understanding this jurisdiction’s taxation features challenging. They will study your organization’s activities and tell you how much money you will be forced to pay and what benefits you qualify for.
Crypto license Malta has a lot of advantages. Firstly, this was the first European country that began to develop rules for regulating cryptocurrencies. It has already created the legal framework, which means that drastic changes should not be expected. This jurisdiction demonstrates a progressive approach to regulating the crypto industry, which appeals to many crypto enthusiasts.
Secondly, this jurisdiction has prestige and worldwide recognition. If you get a work permit here, it will be much easier for you to attract new clients and investors, as they know they can resolve all disputes in the legal field.
Thirdly, VAT does not apply to cryptocurrency exchange transactions, but you must pay this tax if you pay for goods or services using such assets.
This country has excellent economic performance and an excellent investment climate. There is no unnecessary bureaucracy and corruption here, so doing business here is more straightforward than anywhere else. In general, if you want to open a company in a progressive country where you can actively develop your business and attract new clients and investors, then this country will be an excellent solution for you.
It will be challenging to open a business in this country. To begin with, you need to carefully consider the business model, what services you plan to provide and how you will finance it. You must think through the activities of your organization to the smallest detail. Please analyze the market in advance and look at the advantages and disadvantages of your competitors.
Creating software to store users’ assets and execute transactions would be best. When developing this product, you need to consider tools for data verification and combating money laundering, fraud, and financial terrorism. Particular attention must be paid to security issues. It would help if you also created a large repository to store a large amount of customer and transaction data.
Now you can register your company in the chosen jurisdiction. All documents can be submitted remotely.
To get a work permit, you need to collect the necessary papers and check whether your organization is ready for licensing and meets all the requirements of state regulators. Please involve third-party specialists in this so that there is an outside view.
You also need to open a bank account and pay the state fee. Although the crypto business has many risks, local banks open accounts for organizations without problems.
You also need to rent an office and hire local specialists. Particular attention should be paid to the selection of personnel. Employees must have specialized education, work experience in the relevant position, and an impeccable reputation. The office should store all documents on the work of the organization.
After the preparatory stage is completed, you can apply for a permit. Government authorities have several months to study your company’s activities and decide. If they have questions, they can contact you with a formal letter so that you can fix minor violations. In this case, the term for consideration of your application may be extended.
As you can see, it is challenging to go through all these stages without qualified assistance, so we advise you to seek help from our specialized lawyers.
Malta cryptocurrency regulation sets quite simple requirements for organizations that want to get a work permit. This jurisdiction is suitable for giant corporations and small companies where 1-2 people work. Among the most critical points are the following:
At the same time, the country’s government does not establish requirements for the citizenship of your team members and the director. However, a security specialist must have specialized education and work experience in a relevant position. Your company must have a physical office in that jurisdiction, and there are no legal requirements that you must work in the country.
You can prepare a few documents to earn on cryptocurrency in Malta. It would be best if you drew up a memorandum and charter, which will spell out the main points of the organization’s functioning, the authorized capital, what services you will provide, and much more.
You also need to prepare documents about all team members (copies of passports, information about the identification of the company’s beneficial owners). The more details you provide about your team, the better, especially if your people are experienced in the field and have a good reputation.
You also need to provide a document confirming the lease of the office and the availability of a bank account and authorized capital.
If you are afraid that you will not be able to collect the necessary documents on your own, we advise you to seek help from our specialists. They will help to compile a complete list of papers and check how correctly they are filled out. You do not need to fly to this country. You can send the necessary documents to specialists by e-mail, and specialists will be able to receive an office and a bank account even without your presence. But to conduct activities on your behalf, specialists must obtain a power of attorney.
Once a year, you must submit a full report on your company’s activities and pay an annual fee (the amount depends on the license class). In this report, you must indicate the entire financial turnover for the reporting period, income and expenses. If government authorities have questions about your reporting, you must confirm the data with relevant documents. Your company must undergo a full audit, where government agencies will examine the activities of your company. Suppose companies are exempt from audits. These include firms whose annual capital is at most 8 thousand dollars. Also exempt from the audit are companies whose shareholders are highly qualified. They must have a specialized education, which they received earlier than 3 years before the company’s opening.
If you want to work in Malta crypto, you must understand that obtaining a permit in this jurisdiction can be expensive. So, you need to be financially able to deposit the authorized capital (the amount depends on the license class) and pay registration fees (from 3 to 12 thousand euros, depending on the type). It is almost only possible to obtain such a work permit with the help of lawyers. You can order a turnkey license or do some work yourself (open a bank account or find an office), which will allow you to save a lot. Suppose you want to calculate the exact cost of obtaining a license. In that case, you should contact our specialists, who will evaluate your company’s activities, suggest which license class suits you, and, based on this, calculate the exact cost of obtaining a license.
If you want to get a work permit to use Malta cryptocurrency, you can contact our organization’s specialists. They will conduct a full consultation and tell you how to make your company meet the requirements of government agencies. They will also help you with paperwork and find suitable office and local specialists.
We provide services for obtaining a crypto license and in the following jurisdictions:
Crypto license Malta
To work legally in the EU, you must obtain a work permit in a prestigious and globally recognized jurisdiction. There are remarkably progressive rules for regulating the crypto industry, which will allow your business to develop actively and attract investors. Our specialists will be able to accompany your organization at all stages of licensing, which will enable you to obtain a work permit as soon as possible.
Yes, this jurisdiction was one of the first to take steps to regulate the crypto industry, and today has achieved excellent results.
To register an organization, you must collect a package of documents and apply to the relevant state authorities. Our experts will help you organize the necessary papers and represent your interests in government agencies.
Yes, this jurisdiction issues financial licenses, including crypto organizations.
On average, the licensing process takes 3 to 4 months, provided that you prepare all the documents in advance and create an organization, considering government agencies’ requirements.
Senior Partner, Lawyer
Senior Partner, Lawyer