By virtue of the principle of freedom of movement established by the European Union, a credit institution being licensed as such in any Member State of the EU or the EEA, can resort to the European passporting rights to establish a branch in Malta or provide cross-border services in Malta, without the need to apply for a separate licence from the MFSA. Passporting rights also grant any credit institution which is licenced in Malta by the MFSA the right to apply for passporting rights outside of Malta to any other EU / EEA Member State.

LexPractis can assist clients with the procedure required to passport rights from one Member State to another and advising clients with the conditions which must be satisfied before a credit institution may avail itself of such right.