Despite already being Europe’s central hub for online gaming, Malta continues to push forward and innovate, ensuring that it stays at the forefront of its competitors in providing the ideal home for gaming startups and established firms. A motion has been presented in Parliament for the first reading of a new Gaming Bill which will...
After an agreement was reached with the judiciary and due approval was obtained in Parliament, a new Commercial Court will enter into force on 9 April 2018, as a sub-section of the existing Civil Court. The Commercial Court has previously existed in Malta, albeit having a different jurisdiction, but recently sentiment has grown that the...
Malta’s economic growth is projected to continue in the short and long-term future, as top international credit rating agencies Moody’s and DBRS have each upgraded their respective credit ratings to “A3 positive” and “A high”. Moody’s upgrade is the first given to Malta since October 2013, whilst DBRS’s rating is the highest rating ever given...
Top international credit rating agency Fitch Ratings recently confirmed Malta’s credit rating at A+ stable. Fitch Ratings are estimating an economic growth of 7% by the end of 2017 and are forecasting a further growth of 5.9% for 2018, noting Malta’s “robust economic growth, a large net external creditor position, and strong governance indicators”. In...
By virtue of Legal Notice 372 of 2017, the Fourth Anti-Money Laundering Directive (Directive 2015/849) has been fully transposed into Maltese law, by means of the Money Laundering and Funding of Terrorism Regulations, 2017 (“PMLFTR 2017”). These regulations have repealed and replaced their previous 2008 incarnation with effect from 1 January 2018. The new regulations...
David Zahra & Associates Advocates has been confirmed as a Tier 1 law firm in the Financial and Corporate practice area in the IFLR1000 rankings. The IFLR1000 is a leading independent reviewer of the world’s leading financial and corporate law firms and lawyers, carrying out research in over 120 jurisdictions worldwide. The ranking is based on positive client...
To mark the 50th anniversary of the start of bilateral relations between Malta and Tunisia, a trade delegation consisting of 26 Maltese business representatives, and led by the President of the Republic of Malta, took part in a fruitful two-day trade mission to Tunisia. The highly successful exercise was organised by the Maltese Chamber of Commerce,...
The Malta Financial Services Authority (“MFSA”) recently launched a consultation process on the proposed regulation of collective investment schemes incorporated with the key objective of investing in Virtual Currencies (“VCs”). This consultation process is symbolic of the Maltese government’s consistent efforts to become a pioneer in the state-wide implementation of blockchain and the more commonly...
Malta has recently continued its preparations for a post-Brexit economy by setting up the Malta-UK Business Promotion Taskforce. The taskforce has been set up with the explicit objective of implementing a plan of action by late 2019, intended to promote collaborative business with the UK, with particular emphasis on the industrial, economic and financial sectors,...
The Office of the Prime Minister has launched a public consultation on strengthening the Malta Financial Services Authority (MFSA), the single regulator for financial services in Malta. The consultation period runs from 7 August up until 15 of September. The published consultation document focuses on reviewing the current state of the financial sector with particular emphasis on...
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