After an initial exchange to understand the context of the enquiry and whether there are any material aspects that make such a proposal fall outside of the PCC’s own risk appetite or put into some doubt the cell’s feasibility, the client will get some indications on cost & other requirements and would then need to formally engage the PCC to assess the proposal in more detail.
During this process the additional information is analysed,and this would also cover a significant portion of the groundwork necessary for the potential cell set-up phase, including preparation of detailed financial projections and estimation of regulatory capital requirements.
Before creation, each cell goes through the Malta Financial Services Authority application process, including the submission of a three- year business plan. Once granted a license, the cell will be subject to individual regulation and supervision and must maintain a solvency margin just like a separate insurance company. It is not however required to maintain the minimum guarantee fund.
Fees typically consist of :