Insights

Corporate and M&A

Proposed Amendments to Companies Act may require Amendments to all current Memorandums and Articles of Associations

Bill No. 233 of 2021 proposes a number of amendments to the Companies Act, Chapter 386 of the Laws of Malta. These amendments relate to the qualifications required for a person to be a director of a company, the registration of electronic addresses and the obligation of every company to have a register of officers' and shareholders' residential addresses.One of these amendments falls under Article 69 of Chapter 386, which reflects the contents which are to be established within the memorandum of association of a company. Currently, Article 69(1)(d) of the Companies Act provides that the memorandum of association is…

Zachary Galea16th July 2021

Corporate and M&A

MFSA Reminder: Existing CSPs to Comply with new Rules by September

This article was written by Dr Simon Pullicino, Dr Petra Attard, and Dr Laura SpiteriThe Malta Financial Services Authority ('MFSA') has issued a circular directed at authorised company service providers ('CSPs') that were registered to provide CSP services prior to the entry into force of the new CSP rules. CSPs that offered CSP services on the date of entry of the new rules – 16 March 2021 – could only continue to offer such services if they applied for authorisation with the MFSA by the 16 May 2021. This application for authorisation resulted in the MFSA classifying company service providers…

Simon Pullicino8th July 2021

Legal Updates

Unfair Trading Practices Regulations in the Food Industry now in Force

On 18 June 2021, the Unfair Trading Practices in the Food Supply Chain Regulations (Legal Notice 266 of 2021 and hereinafter the 'UTP Regulations'), transposing Directive 2019/633 of the European Parliament and of the Council of 17 April 2019 on unfair trading practices in business-to-business relationships in the agricultural and food supply chain, came into force.The UTP Regulations aim to combat practices that deviate from commercial conduct that is contrary to good faith and fair dealing and which are unilaterally imposed by one trading party onto another. They list several unfair trading practices that are prohibited in relations between buyers…

MamoTCV Advocates6th July 2021

Legal Updates

Data Transfers to the UK to Fall Under ‘White-Listing’ Regime

On 28th June 2021, the EU Commission published its adequacy decision concerning the United Kingdom. Consequently, any transfers of personal data from the EU/EEA to the UK will henceforth be considered as if they were intra-EU transfers. The EU Commission periodically issues such adequacy decisions with respect to third countries around the world after assessing such countries' data protection legislation and determining that it is of an equal standard to that of the GDPR.The UK's adequacy decision was issued in an expedited manner since the UK officially exited the EU/EEA on 1st January 2021. A temporary six-month transitionary period for…

MamoTCV Advocates30th June 2021

Immigration

The Malta Nomad Residence Permit

Residency Malta Agency, the local Government entity responsible for the management and promotion of Malta's residency-by-investment programmes, has launched a new residence permit, the Nomad Residence Permit. This initiative offers third-country nationals the opportunity to work remotely and reside in Malta for a temporary period.The holder of a Nomad Residence Permit shall retain their current employment in another country whilst residing in Malta. The residence permit is issued for one year and can be renewed upon the discretion of the authority if the holder of the permit continues to meet the eligibility criteria. Alternatively, those applicants who are interested in…

Julian Fenech Adami9th June 2021

Immigration

30th June Deadline Nearing for Britons to Secure Residency Status in Malta

30th June 2021 Deadline Nearing for Britons to Secure Residency Status in MaltaThousands of British nationals living across the European Union only have a few weeks left to regularize their residency status in their country of residence, including Malta.Since Brexit, fourteen countries, including Portugal, Spain, and Italy, have automatically granted post-Brexit rights to British nationals residing in their country lawfully. However, in several other countries, including Malta, British nationals have had to apply for the residency status as their right to residence was not automatically granted.In view of Brexit, British nationals and their family members who resided in Malta prior…

Julian Fenech Adami2nd June 2021