Insights

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

Corporate and M&A

Navigating the new regulatory landscape for Company Service Providers – Part 2

This article was written by Dr. Simon Pullicino & Dr. Laura SpiteriIn this second instalment of our series 'Navigating the new regulatory landscape for Company Service Providers', we take a closer look at the application process for CSPs seeking regulatory authorisation, the appointment of key office holders and applicable exemptions to the new regime. Part 1 of this series can be accessed here.The Application ProcessAny person operating in or from Malta who acts, or holds himself out as acting as a CSP by way of its business is required to apply for authorisation from the MFSA, unless such person is able to benefit…

Simon Pullicino6th May 2021

Corporate and M&A

Navigating the new regulatory landscape for Company Service Providers – Part 1

This article was written by Dr Simon Pullicino, Dr Petra Attard and Dr Laura SpiteriFollowing the entry into force of the Company Service Providers (Amendment) Act 2020 (the "Amendments") on 16 March, 2021 a number of significant amendments have been introduced to the local regulatory framework governing the provision of company services. The most notable amendments consist of the removal of previous exemptions available to warranted professionals and the end of the de minimis rule. The Amendments also introduce a classification system, assigning CSPs to a specific class by reference to the services provided. These Amendments form part of a broader reform…

Simon Pullicino4th May 2021

Aviation Shipping, Yachting and Transport

Segregated Cells in Aviation and Shipping Companies

Pursuant to amendments to the Companies Act, the Companies Act (Shipping and Aviation Cell Companies) Regulations (the "Regulations") allow for the incorporation of cell companies that conduct shipping or aviation business. The Regulations also allow for the conversion of an existing company that conducts shipping or aviation business into a cell company. To understand what is meant by shipping or aviation business, please click here.A cell company may create one or more cells within itself for the purposes of segregating and protecting cellular assets. Each cell has distinct assets and liabilities and can therefore be used to carry out separate…

Joshua Chircop29th April 2021