FinanceMalta Membership Guidelines
Types of Membership
FinanceMalta offers two types of paid membership:
- Corporate Membership
- Affiliate Membership
Eligibility to become a Corporate Member shall only extend to entities operating within the financial services industry. FinanceMalta welcomes applications from such entities who would like to join the FinanceMalta community, participate in its initiatives and support efforts to promote Malta as an International Financial Centre of repute. The following entities operating in the fields identified below are eligible to apply for this type of membership:
Firms licensed by the Accountancy Board in Malta to provide accounting or auditing services. The firm’s name should appear on the Accountancy Board’s register.
- Banks & Financial Institutions
Credit institutions licensed by the MFSA in terms of the Banking Act (Cap. 371 – Laws of Malta) and branches of EEA credit institutions, as well as financial institutions that are licensed by the MFSA in terms of the Financial Institutions Act (Cap. 376 – Laws of Malta). (Financial Institutions include three types of licence: Payment Institutions, Electronic Money Institutions and other Financial Institutions.)
- Corporate Services
All entities based in Malta that provide some type of corporate service including the incorporation of Maltese companies, ship & yacht registration, re-domiciliation of companies to Malta, company directorship and management services in Malta, company secretarial services, back office support and administration from Malta, payroll services in Malta, and opening of bank accounts.
- Collective Investment Schemes
Any Collective Investment Scheme licensed under the Investment Services Act (Cap. 370 – Laws of Malta).
- Fund Administrators
Firms recognised by the MFSA to provide fund administration services in terms of Section 9A of the Investment Services Act (Cap. 370 – Laws of Malta). [Fund Administrators, RICCs]
- Listed and Public Companies
These include companies registered with the Registrar of Companies and admitted to listing by the Listing Authority, as well as public institutions.
These include insurance companies licensed under the Insurance Business Act (Cap 403 – Laws of Malta) and Insurance Intermediaries Act (Cap. 487 – Laws of Malta), affiliated insurance companies, reinsurance companies, protected cell companies, enrolled insurance agents, insurance brokers and insurance managers; registered individuals including agents, brokers, managers and tied insurance intermediaries, as well as European Insurance Undertakings having a place of establishment in Malta.
- Investment Services
All companies licensed by the MFSA under the Investment Services Act, CAP 370 of the Laws of Malta including Investment Services Providers [Category 1a, Category 1b, Category 2 including Asset Managers, Category 3 including multilateral trading facilities, and Category 4 trustees or custodians]
o Category 1a - Licence Holders authorised to receive and transmit orders in relation to one or more instrument and, or provide investment advice and, or place instruments without a firm commitment basis but not hold or control Clients’ Money or Customers’ Assets.
o Category 1b - Licence Holders authorised to receive and transmit orders, and/or provide investment advice and/or place instruments without a firm commitment basis solely for Non-Private Customers but not to hold or control Clients’ Money or Customers’ Assets.
o Category 2 - Licence Holders authorised to provide any Investment Service, and hold or control Clients' Money or Customers' Assets, but not to operate a multilateral trading facility or deal for their own account or underwrite and/or place financial instruments on a firm commitment basis.
o Category 3 - Licence Holders authorised to provide any Investment Service including operating a multilateral trading facility, to hold and control Clients’ Money or Customers’ Assets and to deal for their own account or underwrite and / or place financial instruments on a firm commitment basis.
o Category 4 - Licence Holders authorised to act as trustees or custodians of Collective Investment Schemes
- Law Firms
A partnership or association between advocates and includes an advocate who is a sole practitioner.
‘Partnership’ means a civil partnership made up of lawyers whether or not formally constituted.
‘Association’ means any association between advocates in the exercise of the profession and includes a cost sharing arrangement.
- Management Consultancy
Firms that provide consultancy services related to the management of legal entities.
These include Asset Managers, Retirement Fund Administrators, Retirement Fund Custodians, Retirement Funds, Retirement Scheme Administrators and Retirement Schemes, as licensed by the MFSA under the Special Funds (Regulation) Act (Cap. 450 – Laws of Malta).
- Trustees & Fiduciaries
Trustees, Administrators of foundations and other entities that are authorised to provide fiduciary services by the MFSA under the Trusts and Trustees Act (Cap. 331 – Laws of Malta).
Firms that provide tax advice as a specialist service.
Eligibility shall extend to entities taking advantage of the growth that Malta’s financial services industry is experiencing through the work of FinanceMalta, including those entities providing the following services:
- Business Services
- Logistics & Freight Forwarding
- Professional Services
- Real Estate
- Travel & Transport
- Recruitment Services
- Telecommunications & IT
- Media Organisations
CORPORATE MEMBERS benefit from the following:
- Direct access to the experience and knowledge of fellow members
- Receive regular updates, newsletters, and publications on relevant issues
- Attend partner seminars, training and workshops on a wide range of specialist subjects at heavily discounted rates, some events are complimentary and include CPE hours.
- Company profile with logo in the FinanceMalta online membership directory, including a link to own website.
- Access to the ‘member only’ features of the FinanceMalta website
- Have your firms’ events posted onto FinanceMalta’s online calendar of events
- Complimentary copies of the FinanceMalta Investment Guide and Business Directory
- Contribute articles for the quarterly Insight newsletter distributed both in Malta and to selected foreign based contacts
- Influence the market, regulators and law makers through FinanceMalta’s lobbying activities underpinned by the strength of its membership, and founding associations
- Benefit from FinanceMalta’s marketing and PR initiatives
- Regular opportunities to showcase their firm on the international scene under the umbrella of FinanceMalta at certain events / initiatives organised by FinanceMalta with its prestigious partners such as the Financial Times
- Advertise their vacancies on FinanceMalta’s website on a complimentary basis
- Sponsorship preference for events organised by FinanceMalta
- Complimentary company name listing on the FinanceMalta Investment and Business Directory, and Country Profiler magazine (if enrolment is made before its publication)
- Attend the annual FinanceMalta conference at a discounted rate
- Opportunity to publish white papers and articles on FinanceMalta’s website
- Opportunity to take part in FinanceMalta’s topical webcast series
- Complimentary publishing of news updates on FinanceMalta’s social media channels (subject to approval by our social media editor)
AFFILIATE MEMBERS benefit from the following:
- Complimentary publishing of (finance-related) news updates on FinanceMalta’s website (subject to approval by our website editor)
- Network at the annual FinanceMalta conference at a discounted rate
- Complimentary company name listing in the FinanceMalta Investment Guide and Business Directory 'Affiliate Members' section (next edition)
- Complimentary copies of the FinanceMalta Investment Guide and Business Directory
- Complimentary company profile with logo on the FinanceMalta online Business Directory 'Affiliate Members' section including a link to own website
- Ongoing opportunities to generate brand awareness among FinanceMalta members
- FinanceMalta will endeavour to use its affiliate members’ services
- FinanceMalta will endeavour to direct visitors to use its affiliate members’ services
- In addition, affiliate members benefit from second refusal (first refusal goes to FinanceMalta’s corporate members) on support opportunities in the following initiatives:
o Webcast sponsorship
o Banner advertising on the FinanceMalta website
o FinanceMalta organises live events in Malta and overseas
o The annual conference held in Malta
o Other ad-hoc ’brand awareness’ opportunities throughout the year
The applicable membership fee varies from €250 - €600 per annum (depending on the applicant entity’s headcount):
| 101 – 150
| 51 – 100
| 26 – 50
| 11 – 25
| 1 – 10
On submitting a separate application, subsidiaries of corporate member companies will benefit from a 50% discount.
Membership fee: €300 per annum
Fees for new members (whether corporate or affiliate) will be calculated on a pro rata basis.
Process of applying for membership
- Companies may apply for membership online.
- Membership with FinanceMalta is strictly subject to approval by FinanceMalta Management.
- Payment is not necessary until the application has been approved by the management of FinanceMalta.
Suspension or Expulsion from membership
Management will have the power to suspend or expel a member if it deems that such membership will tarnish Malta’s reputation as a robust financial centre. The MFSA’s decision to suspend a license will be sufficient evidence for FinanceMalta to act accordingly. The ‘member’ will have no right to contest or challenge FinanceMalta’s decision. Any prepaid membership fees for the year in which such suspension/ expulsion has occurred will be forfeited and the company will have no right of reimbursement.