Insights

Trusts, Foundations and Wealth Management

New Regulations on Protected Disability Trusts

In virtue of the powers conferred by Article 57 (1) of the Trusts and Trustees Act, Chapter 331 of the Laws of Malta (hereinafter referred to as 'the Act'), the Minister of Finance, acting on the advice of the Malta Financial Services Authority (hereinafter referred to as 'the MFSA'), has recently promulgated the Trusts and Trustees Act (Protected Disability Trusts) Regulations (hereinafter referred to as 'the Regulations'). The Regulations were promulgated in virtue of Legal Notice 324 of 2016 and published on the Government Gazette on the 7th of October 2016.PurposeThe purpose of the Regulations is to regulate the establishment and…

Joseph Borg Bartolo1st November 2016

News and Publications

MFSA Launches “Notified AIF” Regime

The MFSA held an information session on the 1st April 2016 which detailed a proposal to simplify Malta’s current fund regime and launch a new framework for the notification of Alternative Investment Funds. In order to improve the overall competitiveness of the Maltese funds market and enhance the efficiency of the authorisation process, the MFSA will be undergoing a complete regulatory review of the current fund regime namely through a: • Consolidation of the currently available fund regimes • Review of the fund authorisation processes • Revamp of fund application forms and related rulebooks. A key reform in this regard…

MamoTCV Advocates1st July 2016

News and Publications

EU Council lift sanctions against Iran

The MFSA has issued a Notice to all Financial Services Licence Holders confirming the removal of sanctions against the state of Iran via EU Council Regulations adopted on the 16th January 2016. Such measures primarily: • Remove the entities and individuals that were previously on the sanctions lists and assets pertaining thereto. • Removes previous restrictions relating to transfer of funds to and from Iran • Reallows the provision of banking services including the establishment of correspondent banking relationships and opening of accounts for non-listed Iranian institutions and persons • Reallows the opening of branches, subsidiaries or representative offices of…

MamoTCV Advocates1st July 2016

Winding Up and Insolvency

Merger of Mamo TCV Advocates and Simon Tortell & Associates

We are very happy to announce that the law firms of Mamo TCV Advocates and Simon Tortell & Associates are merging with effect from 1 July 2016. The newly merged law firm will continue to be known as Mamo TCV.As a consequence Mamo TCV will admit three new partners Michael Psaila, Frank Testa and Katya Tua. We are very excited about this development and are convinced that by combining the mutual strengths of the two firms and complementing its practice areas with additional expertise, Mamo TCV will be in a position to further grow its practice and provide its esteemed…

Andrew Muscat1st July 2016

FAQ

FAQs – IP

Want to Protect your Intellectual Property? Under Maltese law, copyright covers a number of exclusive rights that are owned by individuals or organisations in respect of an original work (be it an artistic work, a musical work, a work of literature, computer software, an audio-visual work, etc.). These rights include, among other things, the right to authorise or prevent third parties from reproducing (or ‘copying’) a work or a substantial part of it, from altering it or adapting it and from distributing or communicating it to the public. Similar rights (also known as related rights or neighbouring rights) are given…

MamoTCV Advocates24th June 2016

FAQ

FAQs – Funds

Setting up a Fund in Malta The principal advantages which are generally perceived to give Malta a competitive edge as a fund domicile of choice include the low level of costs involved in the setting up of a fund, the flexibility of the legal structures that are permitted under Maltese law aswell as the approachability and efficiency of Malta’s single regulator and supervisor. Furthermore, Malta’s EU membership has paved the way for its adoption of the UCITS and AIFM directives. Malta also benefits from a large number of local and foreign credit institutions, fund administrators and investment firms having a…