The State of Kuwait has recently inaugurated a new embassy in Balzan, Malta. During the inauguration of the embassy, Malta’s Foreign Minister stated that “the intensification of bilateral contacts between our two countries has been greatly enhanced, notably in recent years, with 12 agreements signed since 2010”. Malta opened an embassy in Kuwait City, Kuwait...
The provision dealing with limited liability companies having the status of a private exempt company (article 211 of the Companies Act) has recently been amended to remove the condition that for a company to qualify for such status, no body corporate could hold, or have interest in, any shares or debentures of that company. Accordingly, as long...
The Government of Malta has launched the Global Residence Programme, a new residence programme for foreigners. This programme is intended to replace the High Net Worth Individuals (HNWI) Rules launched in September 2011. The Global Residence Programme shall reduce the minimum value of immovable property bought in Malta by foreigners to €275,000 (from €400,000). Moreover,...
Filippo Maria Arcaleni, from David Zahra & Associates Advocates, have recently participated in an business convention on intellectual property held at the Malta Enterprise head office at Gwardamangia Hill on Friday 24 May 2013. The event was organised by ACBGroup (www.acbgroup.com). This event brought together various Italian professionals in the field of law and accountancy...
David Zahra, partner at David Zahra & Associates Advocates, shall be delivering a presentation during a breakout session on ‘Limiting Auditor Liability’ during the SMP Forum 2013 organised by the Malta Institute of Accountants on Tuesday 21 May 2013 at the Hilton Malta, St Julians. The SMP Forum is organised by the Small and Medium...
David Zahra and Filippo Maria Arcaleni, from David Zahra & Associates Advocates, have recently participated in a Malta Enterprise business delegation to Siracusa, Sicily. The event brought companies from Sicily and Malta which are interested in tapping business opportunities in such jurisdictions. DZ&A had the opportunity to meet the President of the Siracusa branch of...
Malta and the Russian Federation have signed an ‘Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income, and a related Protocol’. The agreement was signed on 24 April 2013 at the Ministry of Finance of the Russian Federation in Moscow. In a statement, the Government of...
FitchRatings (www.fitchratings.com) has confirmed that Malta does not face same bank system risks as Cyprus. Research it carried out showed that “while both Malta and Cyprus seemingly have large banking sectors that substantially exceed the size of their economies and that rely to some degree on funding from non-resident depositors, a closer examination reveals substantial...
Malta and the Republic of India have signed an agreement on the avoidance of double taxation and the prevention of fiscal evasion on income tax. The agreement was signed at a meeting between Indian External Affairs Minister Preneet Kaur and Foreign Affairs Minister George Vella on 8 April 2013 in Valletta, Malta. The signing of...
David Zahra, founding partner of David Zahra & Associates, has recently participated in the 4th Islamic Financial Services Forum: The European Challenge held at the Banca d’Italia in Rome, Italy on 9 April 2013. The forum was organised by the Islamic Financial Services Board (IFSB), an international standard-setting organisation that promotes and enhances the soundness and stability of the Islamic...
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