Banks & Credit Institutions: Requirements & Costs

According to Article 6(2) of the Banking Act, the Malta Financial Services Authority requires that all applications for a licence shall be filed in accordance with its official application forms as applicable and shall be accompanied by:

• the Memorandum and Articles of Association of the applicant;
• audited financial statements for three years (if applicable);
• a business plan including the structure, organisation and management systems of the prospective bank;
• the identity of all directors and managers of the institution;
• the identity of all shareholders with a qualifying shareholding; and
• the identity of the individuals who will be effectively directing the business of the prospective bank.

According to Article 6(2) of the Banking Act, the Malta Financial Services Authority requires that all applications for a licence shall be filed in accordance with its official application forms as applicable and shall be accompanied by:

• the Memorandum and Articles of Association of the applicant;
• audited financial statements for three years (if applicable);
• a business plan including the structure, organisation and management systems of the prospective bank;
• the identity of all directors and managers of the institution;
• the identity of all shareholders with a qualifying shareholding; and
• the identity of the individuals who will be effectively directing the business of the prospective bank.

One time Licence fee payable to MFSA upon submission of application: EUR 12,500.

Annual Licence Fee – EUR 18,000.

Annual Supervisory Fee – 0.000175 of its deposit liabilities but not less than EUR21,250 and not more than EUR500,000.