Foundations under Maltese Law Any person, whether a national or otherwise, has the right to establish legal organizations, including Malta foundations, as long as that person complies with the prescribed rules as to form and content. Setting up a Malta Foundation Public Deed or Will A Malta foundation can be set up either by means of a […]
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Unit Trusts under Maltese Law The Unit Trust The purpose behind the creation of a unit trust is that many persons, whether legal or natural, are unable to accumulate large pools of moneys sufficient to individually give them access to substantive investment opportunities. In this event investors collectively contribute through the set up of a
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Smart Contracts What are Smart Contracts? Whilst most seem to be intrigued with the emergence of blockchain technologies and cryptocurrencies, few understand the present implications and possible future opportunities of these tools. Nick Szabo, a legal scholar and computer scientist first introduced the concept of a smart contract in a peer-reviewed journal in 1997. He
Malta UCITS Funds UCITS schemes are schemes that are harmonized under the UCITS Directive of the European Union. These are schemes that predominantly invest in transferable securities such as: (a) shares in companies and other securities equivalent to shares in companies; (b) bonds and other forms of debt securities; or (c) any other negotiable securities which carry the right
DTA Tax Treatment of Malta Collective Investment Vehicles Domestic and international legal framework Collective investment funds take different legal forms and their tax treatment varies from country to country. It is therefore often unclear whether the benefits of tax treaties are available to the funds themselves. Further, the question arises if, where these benefits are
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The Netherlands-Malta Double Tax Agreement On 18th May 1977, Malta and the Netherlands signed the Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income. The treaty came into force by Legal Notice 90 of 1980 and was subsequently amended by the Protocol in 1995. Moreover, relations
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Malta hNWI tax residence Malta’s ACT XVI of 2011 heralded the new High Net Worth Individuals – EU/EEA/Swiss Nationals Rules, 2011. This new legislation amended, inter alia, the Income Tax Act and replaced the old Permanent Residence Scheme. Article 56(23) is a new article added to the Income Tax Act and prescribes that the Minister can
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Capital Gains and Property Transfer Tax in Malta Introduction The transfer of immovable property in Malta attracts an amount of tax which is imposed on the person transferring the property to the other party. In this regard the term “transfer” includes any assignment or cession of any rights over property.[1] Upon the transfer of immovable
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Malta Opportunity: Blockchain & Cryptocurrencies Blockchain, Cryptocurrencies & Opportunities for the Maltese Banking Industry, in the same sentence, may seem far-fetched, ludicrous and potentially outrageous to some, and interesting and innovative to others. The reality is that the world we live in and the financial services and banking sector will need to embrace and also evolve to
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Perpetual Ground Rents in Malta Property The legal institute of ‘emphyteusis’, once very popular throughout the continent, has nowadays fallen into disuse in many jurisdictions throughout the world. The same cannot be said for Malta where emphyteusis – although its popularity has certainly diminished over the years – is still a common feature of the
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Fund Administrators in Malta The Investment Services Act provides that any person who in Malta or from Malta provides administrative services which do not themselves constitute licensable activity under this Act, shall be required to apply for recognition by the MFSA. The Regulator The Malta Financial Services Authority (MFSA) is responsible for the recognition, regulation
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Revocation of Maltese Citizenship under Maltese Law The Maltese Citizenship Act contemplates two modes of loss of citizenship, namely renunciation and revocation of Maltese citizenship, also referred to as deprivation. Where a citizen of Malta is of full age and capacity, he or she may renounce their Maltese citizenship by making a declaration to this effect. In the case
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Introducers under Maltese Financial Services Law Introducers in Malta: Introduction An Introducer is defined in the Glossary published by the MFSA as a person who enters into a written arrangement with a License Holder, whereby such person introduces a potential customer to the License Holder, as a consequence of which the License Holder may remunerate
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Malta Binary Options Regulation of Malta Binary Options On the 17th July 2013, the Malta Financial Services Authority (MFSA) announced that Binary Options are considered as instruments falling within the parameters of the Second Schedule of the Investment Services Act. This announcement follows a clarification made by the European Commission that Binary Options meet the
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Malta Involvement in Exchange of Information in Tax Matters Malta, as a member of the EU and a state committed to transparency, implements number of international tools designed for exchange of information in financial matters. Below we present the most important regulations. Savings Directive Under the Savings Directive (2003/48/EC) all member states are ultimately expected
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