Amongst several company forms available in Malta, the most popular to foreign investors are private limited liability companies and private exempt companies. The Companies Act, Chapter 386 of the Laws of Malta (hereinafter the ‘Act’) differentiates between a […]
On the 25th November 2022, the Malta Business Registry (“MBR”) announced that it will be limiting access to the register of ultimate beneficial owners (“UBO”) to competent authorities and subject persons only. This comes after a ruling delivered […]
The US Ministry of Finance announced that it will abolish the tax treaty with Hungary by the 31st December 2023. The key reason for this is that the Hungarian government is reluctant to adopt the global minimum tax […]
Every company incorporated or otherwise established in Malta is required to have in office a company secretary who has sufficient knowledge and experience to discharge its functions. The company secretary is to be appointed by the board of […]
On the 25th January 2022, the Malta Financial Services Authority (“MFSA”) issued new Crowdfunding Rules (the “Rules”) which contain provisions regulating the operations of Crowdfunding Service Providers authorised by the MFSA. The Rules may be seen as a reflection and extension […]
On the 26th October 2021, the Companies (Amendment) Act (the “Amendment Act”) was enacted in order to amend the Companies Act (Cap. 386 of the Laws of Malta) (the “Act”). From an overview of the amendments undertaken, it […]
As per Article 2 of the Trusts and Trustees Act, Chapter 331 of the Laws of Malta (the “TTA”), the property held within a trust can be either a movable or an immovable, such as real estate property. […]
The main difference between a variation and a revocation of a trust is that, whilst variation allows the power to revoke certain terms under a trust and introduce new ones, revocation allows the power to terminate the rights […]
Under Article 2 of the Trusts and Trustees Act, Chapter 331 of the Laws of Malta (the “TTA”), the settlor is defined as ‘the person who makes the trust and includes a person who provides trust property or […]
There is no trust without a trustee. However, there is another essential party to the trust, without which the trust would be invalid: the beneficiary. The purpose behind creating a trust is to provide certain benefits to the […]
In analysing the duties of the trustee, it is fundamental to refer to article 21 of the Trusts and Trustees Act (Chapter 331 of the Laws of Malta) (the “TTA”) which lays down the fundamental duties of the […]
As underlined in the Civil Code, Chapter 16 of the Laws of Malta, fiduciary obligations arise by virtue of law, contract, quasi-contract, unilateral declarations including wills, trusts, assumption of office or behaviour whenever a person (the “Fiduciary”): owes […]
Although the English law concept of trust was already present in Malta since the late 1980s through the concept of ‘offshore trusts’, the first written legislation regulating domestic Maltese trusts came into force in 2004 through the enactment […]
Although the English law concept of trust was already present in Malta since the late 1980s through the concept of ‘offshore trusts’, the first written legislation regulating domestic Maltese trusts came into force in 2004 through the enactment […]
Following the coming of application of Regulation (EU) No 910/2014 of the European Parliament and of the Council of 23rd July 2014 on electronic identification and trust services for electronic transactions in the internal market and repealing Directive […]
The Malta Business Registry (“MBR”) has issued a Guidance document (“Guidance”) which presents an overview of the requirements emanating from the Companies Act (Register of Beneficial Owners) Regulations (the “Regulations”). The Guidance serves to provide further information on […]
On the 25th March 2021, the Malta Financial Services Authority (“MFSA”) issued a circular directed to Trustees & other Fiduciaries bringing to their attention the coming in force of the Company Service Providers (Exemption) Regulations 2021 (the “Regulations”). […]
On the 21st January 2021, the Malta Business Registry (“MBR”) informed relevant entities that, in respect of share transfers and changes in issued share capital or voting rights of companies and other commercial partnerships where applicable, or transfers […]
By a notice published on the 17th June 2020, the Malta Business Registry (“MBR”) has informed interested parties of the newly enacted regulations titled ‘Companies Act (Shipping and Aviation Cell Companies) Regulations’. The purpose of these regulations is […]
Following the feedback statement on the proposed amendments to the Company Service Providers (“CSPs”) regulatory framework issued on the 9th April 2020, the amendments to the Company Service Providers Act, as amended by Act L of 2020 (“CSP […]