The Malta Financial Services Authority (‘MFSA’) issued a circular explaining the various amendments made to the Investment Services Rulebooks. In tandem with these amendments new rules have also been incorporated, most notably in relation to Subordinated Loan Agreements (‘SLAs’) falling under MiFID Part BI. This comes as a result of the requirement for license holders...
The Malta Financial Services Authority (“MFSA”) recently announced some changes to the Rulebook for Company Service Providers (the “Rulebook”), which came into effect on 23rd January 2024. These modifications are primarily concerned with the regulatory submission process for licensed Company Service Providers (“CSPs”). Notably, these changes will have implications for submissions due in 2024 and...
These regulations provide eligible insurance entities to apply an alternative accounting framework to the International Financial Reporting Standards adopted at EU level. MFSA have issued a circular in this regard – https://www.mfsa.mt/publication/circular-on-the-newly-published-accountancy-profession-general-accounting-principles-in-respect-of-certain-eligible-entities-regulations-2023-legal-notice-299-of-2023-gapee/
Identità Malta has introduced a new initiative, the Specialist Employee Initiative. The aim of this initiative is to accelerate the application process for highly skilled third-country nationals. Applications filed under this scheme are to be processed within fifteen (15) working days. In order to qualify under this initiative, one must satisfy the following criteria: Minimum...
The Employment Agencies Regulations of 2023 come into force 1st April 2024. The Regulations introduce a new regime for regulating the services provided by employment agencies, which were largely unregulated. These Regulations apply to employment agencies that provide recruitment services, temporary work services and/or outsourcing services. The Regulations impose mandatory licensing, applications for which will...
Malta has recently implemented changes to the Eighth Schedule of the Value Added Tax Act (Chapter 406 of the Laws of Malta), introducing a reduced VAT rate specifically applicable to the hiring of pleasure yachts. This modification, influenced by the adoption of Council Directive (EU) 2022/542 on April 5, 2022, marks a departure from the...
We are pleased to announce that we have retained our ‘Tier 2’ position in the IFLR1000 ‘Financial and Corporate’ rankings for 2023. In addition, David Zahra has once again been recognised as a ‘highly regarded lawyer’, specifically within the banking, Capital Market: Debts and M&A practice areas. IFLR1000 undertakes qualitative research into law firms and...
In continuation of our launch of our Trainees’ Programme, we have sat down with Andrew Grech, our current trainee associate who has joined our firm in July 2022. Andrew came to our firm eager to learn what’s it’s like working at a law firm. The following is what he had to say on his current...
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Designed and developed by Blonde and Giant
© 2022 – DAVID ZAHRA & ASSOCIATES ADVOCATES
Designed and developed by Blonde and Giant
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