The Financial Services sector in Malta is blooming with the Island becoming one of the primary financial hubs in Europe. Malta boasts a solid investment services sector with hundreds of funds and dozens of investment services firms setting up in Malta, while also a significant number of providers in the banking, insurance and related sectors have also set up offices on the island.
The financial services sector is regulated by the Malta Financial Services Authority (MFSA), and being a regulated sector, there is an application process that needs to be followed by a number of ongoing regulatory requirements by the respective company depending on the sector.
A key element which the MFSA emphasis on is the fitness and properness of the senior individuals in the company, like directors, the MLRO and senior management. Here the MFSA would analyse the competence, experience and financial soundness of such individuals to determine whether the management can effectively run the business of the Company.
To be able to obtain such licences, prospective service providers require the assistance of a team of financial and legal professionals. KSi Malta’s legal, financial and advisory teams can assist in this regard and thus assist our clients in applying, obtaining and maintaining such licences or authorisations to operate in Malta. These licences would include:
- Fund set-ups
- Financial Institutions
- Investment Services Providers
- Banking Institutions
- Insurance Undertakings