ELECTRONIC MONEY INSTITUTIONS
Malta provides a favourable regulatory
framework for electronic money and electronic institutions. The
Banking Act gives credit
institutions the opportunity to undertake the business of
electronic banking under their banking licence. On the other hand, ‘stand-alone’
electronic money institutions must operate
within the frame parameters of a licence based on the framework of EU
Directive 2000/46/EC.
Banking, fund and investment managers, on-line stockbrokers
and credit cards can all benefit from setting up office in Malta. Malta
is an excellent location for:
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the starting of new ventures;
-
the location of corporate HQs for
multinational companies;
-
a Malta base for expansion into Europe
and the Mediterranean Region;
-
an efficient and low cost back office
administration, call centres and help desks;
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a base for server co-location and
technical support services;
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e-commerce start-ups & relocations.
Malta presents a modern financial services legislation
and is on the forefront of e-commerce regulation and facilitation. E-Money operations affecting banking or
investment services are regulated by the Malta Financial
Services Authority. The financial regime operates along the best
practices and separates regulatory and promotional activity.
Furthermore regulations seeks to held financial organisations
respond quickly to market changes and develop new products, whilst
ensuring investor protection measures and the protection of Malta’s
global reputation.
Malta has developed
tax corporate structure regimes that can provide
a wide range of benefits to corporations.
The e-money sector is regulated by the Electronic Commerce Act 2001,
since it provides for the validity of transactions carried out and
the information submitted through electronic communication. The Act
provides for electronic contracts, electronic signatures and
certification, data protection and responsibilities in the event of
suspected or actual criminal activity.
The misuse of electronic signatures, signature creation devices and
certificates and fraud are criminal offences, as is the unlawful
access of use of information and the misuse of computer hardware.
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Financial Services
