MFSA launches guidelines to facilitate classification of DLT assets via the Financial Instruments Test. The Malta Financial Instruments Test must be carried out by the Issuer of the ICO as well as the VFA Agent in order to determine whether the DLT asset qualifies as a virtual token, a financial instrument under MiFID or a Virtual Financial Asset under the new Virtual Financial Assets Act.
The amount invested in Government stocks totalled €58,371,279. The financial contributions to the National Development and Social Fund amounted to €194 million, whilst €83 million where transferred to the Consolidated Fund. According to the forecasts published by the European Commission the Malta individual Investor Programme contributed 2.6% of the country’s GDP in 2017.
20 Jul 2018
The Fintech sector continues to flourish and root itself on various in-depth legislation available. The Malta Stock Exchange has set up a stable foundation for digital asset trading. Malta continues to establish itself as a hub for investment as well as an incubator for further developments in this sector.
19 Jul 2018 Thea Leigh Massa
The implementation of the new Gaming Act has been pushed back to the 1st of August 2018, postponing the implementation by one month following the submission of a detailed opinion to the European Commission by Poland.
With the simplification of the process of the Work Permit Malta, non-EU workers now enjoy the right to commence work in Malta once their application is approved. This means that a foreign worker does not need to wait for the final permit before starting work in Malta because a temporary one is issued for this interim period during which routine checks by the Maltese authorities are conducted.
Having amended its citizenship laws, the Portuguese government has made the Portugal Golden Visa Program more accessible than ever. The revised program requires a five-year residency period, an understanding of the Portuguese language, and a clean criminal record. The Portugal Golden Visa Program also opens the door to permanent residency and citizenship.
On the 6th July 2018, Legal Notice 214 of 2018 was enacted under the Government Lands Act.
The legal notice introduces a forward-thinking new mechanism which contemplates the transfer of rights pertaining to commercial property by title of lease from the Government, from a retiree to that retiree’s own child.
Portugal Golden Visa Program - Latest Statistics
A consultation document on the Regulations to supplement the Virtual Financial Assets Act came out on the 4th of July 2018. The Rules will supplement the high level provisions set out in the Act.
02 Jul 2018 Yana Azzopardi
As a family-centred firm, Chetcuti Cauchi Advocates takes care of its employees by ensuring that they find the perfect life-work balance. As the beginning of summer has approached, the Social Committee Team of Chetcuti Cauchi Advocates have organised a Family Beach day on the 30th June for all the employees and their families.