Malta opens enormous opportunities for trading globally. This is a jurisdiction that is considered to be reliable. It is a good idea to establish a crypto company here not for the reason of a very good reputation only. The state also offers favorable terms of taxation – under specific conditions, the rate of corporate tax is 5% only.
There are many actions that have to be made to get instant access to all of these advantages. Obtaining a cryptocurrency exchange license is a core point in this list. Prifinance attorneys can help you to get a Maltese cryptocurrency exchange license https://prifinance.com/en/cryptocurrency-license/malta/ by applying their tested expertise. As of now, lawyers are ready to share with you their brief guide on how to obtain a crypto exchange license in Malta.
Core Licensing Aspects to Know About
There are 4 types of crypto licenses issued in Malta – all operations with cryptos starting from consulting to trading are covered. Speaking about the costs, an applicant should pay a one-time registration fee and also pay an annual fee for renewal. If we speak about a Maltese trading platform, a Class 4 license is required. This license is designated for operations with virtual financial assets (VFA), including custodial services and operations with customer funds. The one-time payment in this case will be EUR 12,000. And it will also be required to pay EUR 25,000 annually. This annual fee may be increased if the amount of profits exceeds EUR 1 million. To apply for a crypto exchange license, it is necessary to appoint a VFA agent. There are several steps that have to be made afterward to get a crypto exchange license:
— Register or buy a limited liability company with a clear profile (the information about its founders, beneficiaries, and corporate group (if any) has to be clearly explained in the application).
— Reserve enough financial resources to support the next operation of a project.
— Have enough security and IT systems to ensure ongoing tracking of all deals closed through the platform.
— Develop and implement effective internal policies to guarantee transparent trading, including those that are focused on money laundering prevention (among others, KYC).
— Hire and train staff, including a compliance officer.
These are core points that have to be addressed. But, each concrete application case may have its nuances. Prifinance attorneys can develop your personalized application strategy that will work.
How Prifinance Attorneys Can Facilitate You
Are you focused on obtaining a license for your crypto startup exactly in Malta? Prifinance attorneys are prepared to realize their best registration practices and foster the realization of your business decision. Experienced lawyers who have realized 200+ projects in the crypto industry can render you, among others, these legal services:
— exploring and helping to address all the nuances of the local law;
— registering or buying a corporate entity that will act as a future exchange;
— consulting and helping to address all nuances of taxation, so your project could be eligible for the reduced 5% corporate tax;
— applying for and helping to keep a crypto exchange license active;
— supporting and resolving all other issues that may appear in the course of the next operation of your trading platform.
Forward the details of your case and the business objectives. Skillful lawyers will help you to realize your business goals successfully.
