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Malta shows 'Remarkable Resilience' in face of ...

The International Monetary Fund said that Malta has shown 'remarkable resilience' amdist the major European crisis and the main challenge that Malta faces is to maintain its macroeconomic stability. The average growth of the Maltese economy was the best in the euro zone since the beginning of the crisis. This resilience was underpinned by robust export ...


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Escrow Services

Due to the increase of global commercial transactions, there has been a demand for third parties to a commercial transaction to hold an asset, such as monies, funds or immovable property and deliver the same to a grantee once the agreed conditions have been met. The commercial transaction and the conditions thereto, as well as the identification of the parties to the transaction and the escrow agent are generally specified in an escrow agreement. Integritas Group Ltd is authorised to act as a trustee and provide fiduciary services under the...


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The Malta Ship Register

Malta, a member of the European Union, located in the heart of the Mediterranean has developed one of the most reputable ship registers in the world, having the largest ship register in Europe and offering a wide array of international maritime services. Although previously notoriously known as a flag of convenience, the Malta flag has today become a flag of choice that many seek out as their main and first choice of flag. The Malta Ship Register was launched in the mid-1970s, although maritime tradition in Malta dates back thousands of years. The...


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VAT Treatment of Short-Term Yacht Chartering ...

The VAT Department in Malta has recently issued new guidelines regarding the treatment of VAT on short-term yacht charters. A short-term charter, in accordance to the guidelines is considered to be an agreement whereby the owner of the yacht contracts the use of the yacht for a consideration, either with a crew or on a bare boat basis. The short-term yacht charter, used for the purposes of leisure, is considered for VAT purposes to be a supply of a service which is taxable at a standard rate of VAT and the place of taxation is considered to be the...


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Procedure to Incorporate a Malta Company ...

A Malta company may be registered with the Malta Financial Services Authority, within 48 hours of receiving all the necessary documents, on the submittal of the Memorandum and Articles of Association of the company, together with the deposit of the share capital and payment of Registry fees. The minimum share capital of a Malta company is Euro 1,165 which can be 20% paid up and the Registry fee based on the minimum share capital is Euro 245, making Malta competitive due to its low registration costs. A private Malta company requires at least one dir...


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Do we need a Protector for our ...

The role of the ‘Protector’ emanates from English law, from the Fines and Recoveries Act 1833, but has of late assumed a wider role in the sphere of trust law. The Protector is in modern times, considered to be an ombudsman in respect of the manner in which a trust is administered and is ordinarily required to give his consent to specific actions required to be carried out by the trustee, whereby such actions are normally accounted for in the trust deed. Under Maltese law, the Protector is regulated by Article 24A of the Trusts and Tru...


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Benefit from Incorporating a Company in Malta ...

Setting up a company in Malta can enable you to benefit from a variety of advantages that our country offers to non-resident who choose to incorporate their company in Malta. The following are the main benefits that Malta can offer to such companies. Taxation Benefits Malta has a full-imputation system of corporate taxation and therefore any income tax that is paid by a Maltese company is fully imputed or credited to the shareholder who receives dividends of the company, enabling the same to benefit from the full relief of economic double taxation...


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Electronic Money Institutions in Malta ...

Electronic Money Institutions in Malta are regulated by the Financial Institutions Act, Chapter 376 of the laws of Malta (hereinafter referred to as the ‘Act’) following Directive 2009/110/EC (hereinafter the ‘Directive’) and are defined as those institutions which are licenced by the Malta Financial Services Authority (hereinafter referred to ‘MFSA’ or the ‘competent authority’) authorised to issue electronic money. Electronic Money is defined by the Third Schedule of the Act and refers to electroni... 


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An Overview of the Proposed Amendments to ...

In late 2012, a Consultation Document was prepared by the Malta Financial Services Authority (hereinafter the ‘Authority’) which included proposals to amend the Malta Trust and Trustees Act, Chapter 331 of the laws of Malta (hereinafter the ‘Act’). One of the areas which the Authority addressed is the regulation of trustees in Malta and significant changes were proposed in this area which shall be discussed below. Trusteeship only available to Companies Article 43 of the Act currently stipulates that any person who is resi...


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Redomicile your company to Malta! ...

Introduction A foreign company may be continued in Malta without the necessity of being wound up and liquidated in the respective foreign country, provided that such foreign company emanates from a country, which is approved in Malta as being similar in nature to a company set up under the laws of Malta and provided further that such foreign company is authorised to do so by its Memorandum and Articles of Association or other instrument constituting the company. Documents Required A request is normally made to the Registrar of Companies fo...


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