Banks and Credit Institutions

Malta enjoys a reputable and robust banking sector. The World Economic Forum has ranked Malta as the 13th out of 143 countries in relation to the soundness of its banking system. During the 2008 economic crises, the industry demonstrated a solid resiliency and managed, largely as a result of the level of prudential supervision exercised by the Malta Financial Services Authority, to continuously maintain excess liquidity and significant diversified asset holdings.

Banks and credit institutions in Malta are regulated by the Banking Act which defines the business of banking as the business of a person who regularly accepts deposits of money from the public for the purpose of employing such money in whole or in part by lending to others or otherwise investing for the account and at the risk of the person accepting such money. The relevant legislation implements EU Directives and is based on Basle Principles.

A bank or credit institution licensed in Malta by the Malta Financial Services Authority enjoys passporting rights to any EU Member State. This means in effect that such bank or credit institution has the right to establish a branch or to provide services in any other Member State without requiring any further authorisation or licensing. The right to ‘extend’ a Malta licence to other Member States is exercised by means of a simple notification to the Malta Financial Services Authority in accordance with the relevant provisions of the Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions.

This passporting right coupled with the relatively low costs for set-up, the availability of professional services, the possibility of enhancing tax efficiency and the emergence of Malta as a hub for wealth management, funds and financial services renders Malta one of the most attractive jurisdictions for the licensing of operations intending to provide banking services both locally and internationally. 

Gonzi & Associates, Advocates is able to assist you with all aspects relating to the licensing of a bank or credit institution. More information on licensing may be found below:

Banking and Credit Institution Licence

Key Experts

David Gonzi
David Gonzi
Managing Partner
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Lawrence Gonzi
Lawrence Gonzi
Partner and Senior Consultant
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