Practice Areas > Investment Services, Fintech & Capital Markets > E-Money Licence
Overview
Gonzi & Associates, Advocates boasts extensive experience in relation to licensing of e-money institutions and payment services and has assisted a number of clients in the acquisition of such licences. Having significant experience in the area, the firm is able to assist clients in all aspects relating to their licence application and eventually their operations. Contact us for a preliminary no-obligations meeting on how we can assist your electronic money or payment services business.
Legal Basis
Malta has been one of the front-runners within the EU when it comes to the telecommunications sector. Nowehere is this more clear than in the setting-up of Electronic Money Insitutions, also known as E-Money Institutions. These Institutions are currently regulated by the 1994 Financial Institutions Act (Chapter 376 of the Laws of Malta).
The primary function of an electronic money institution is the issuance of electronic money, which is defined in the Third Schedule of the Financial Institutions Act as any electronically or magnetically stored digital representation of a monetary claim due by the issuer. This claim may be stored digitally in the form of an electronic device for the purpose of making payment transactions. However, aside from simply issuing payment transactions, there are also a number of other potential activities which a licensed E-Money Institution is permitted to carry out.
How we can assist.
As a leading E-Money Institutions firm, Gonzi & Associates, Advocates, can assist you with a vast array of queries relating to licensing of e-money institutions. Our team of expert financial services lawyers is well suited to assist with the following, among others:
- Malta Company incorporation and registration;
- Collection & preparation of documentation necessary for submission of an E-Money Institution licence application, including internal policies;
- Assistance in the drafting of the company’s business plan for submission with the licence application;
- Drafting website T&Cs relevant to your services;
- Assisting in the engagement of Key Functionaries;
- Providing post-registration follow-up assistance, including advising on applicable compliance requirements;
- Registration of your trade mark in the Malta trade mark register and/or the register of the European Union Intellectual Property Office;
- Providing general legal advice and assistance as required.
The Process
Specialising
Lawyers
Augusto Quintano joined the Firm in 2015. He graduated with a Doctor of Laws at the University of Malta after completing his final year of his studies in 2016. He has then furthered his studies by obtaining a Masters in Law in 2020, with an in-depth focus on financial services regulation. Augusto's main legal focus is in fact financial services law and heads the Firm's Financial Services Department. He also assists clients in matters of regulatory compliance, contractual law and gaming matters. His expertise leads him to regularly serve on Boards of key market players in the jurisdiction, offering guidance and advice therein.
Augusto's other interests include planning road trips, movie nights, and playing the violin with various ensembles.
Education
2020: Master of Laws, University of London
2018: Post Graduate Diploma in Laws, University of London
2016: Doctor of Laws, University of Malta
2016: Maltese Financial Regulations, Institute of Financial Services
2014: Diploma of Notary Public, University of Malta
2013: Bachelor of Laws, University of Malta
Professional Experience
2020: Senior Associate, Gonzi & Associates, Advocates
2017: Associate Lawyer, Gonzi & Associates, Advocates
2015: Legal Trainee, Gonzi & Associates, Advocates
Mark Farrugia joined the Firm in 2020. He attained a Bachelor of Laws from the University of Malta in 2020, following the submission of the dissertation entitled “Music Copyright Issues Concerning Joint Authorship.” Mark subsequently graduated with a Master of Advocacy from the University of Malta after completing his final year of studies in 2021 and was admitted to the Maltese bar in 2022.
Mark's focus with the law firm is on Intellectual Property Law, assisting clients with the registration and protection of trademarks, as well as Financial Services, amongst which he assists clients with licensing and other regulatory requirements.
Education
2021: Master of Advocacy, University of Malta
2020: Bachelor of Laws (Honours), University of Malta
Professional Experience
2021: Associate Lawyer, Gonzi & Associates, Advocates
2020: Legal Trainee, Gonzi & Associates, Advocates
2020: Junior Legal Assistant, Malta Financial Services Authority
2019: Legal Intern, Malta Business Registry
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