Circular to persons involved in DLT asset activity and services
The MFSA has on the 20th September, 2018 published a self-explanatory form to serve as a Data Collection Exercise in relation to DLT asset activity and services being carried in or from within Malta and as a notification for the purposes of Article 62 of the Virtual Financial Assets Act. The form includes questions covering the type of activity being undertaken, or service provided, as well as supplementary information pertaining to such activity or service.
Data collection exercise
The MFSA is inviting persons undertaking any activity or providing any service in relation to DLT assets, in or from within Malta, to participate in this Data Collection Exercise. The scope of such exercise is the gathering of information which will enable the Authority to conduct statistical analysis as well as identify and assess the associated money laundering/funding of terrorism threats and vulnerabilities in this field and within the context of the country’s National Risk Assessment. Interested parties are hereby encouraged to participate in this exercise. The Data Collection Exercise shall remain open until Friday, 28 September 2018.
Notification for the purposes of A. 62 of the VFA Act
The submission of the pertinent form shall also be deemed as a notification for purposes of Article 62 of the Act. Persons that have not commenced operations as at date, but shall do so prior to the coming into force of the Act, and wish to avail themselves of the transitory provisions in terms of Article 62 of the Act, are required to use this form to notify the Authority accordingly, upon commencement of such operations and by no later than the date of the coming into force of the Act. It is important to note that, for the purposes of the notification under Article 62 of the Act, the Authority shall only be taking into consideration notifications submitted using this form. The Notification Form shall remain available until the date of the coming into force of the Act.
For further information, please do not hesitate to contact the firm’s partner in charge of tax and corporate services Stephen Balzan on [email protected].
Apart from its offices in St. Julian’s Malta, ACT operates from a second office in Gozo, which is situated in the capital city of Victoria. For an appointment in our Gozo office, please call on 00356 21378672 or send us an email on [email protected].
Maltese companies are subject to tax at the rate of 35% on their world wide income and capital gains. Malta grants various fiscal incentives to both companies and their shareholders upon distribution of a dividend. Malta is a membe...Learn More
Setting up a Company
Setting up a company in Malta is a relatively straight forward procedure and can be set up within 2 working days, provided we are in receipt of all the information, funds and due diligence documentation we need. The Act that regulates Malte...Learn More
Taking up Residence
Warm climate, friendly people, excellent communication infrastructures, low criminality and many other features of the Maltese islands have made Malta an excellent destination for people to take up residence in. Moreover low rates of taxati...Learn More
Malta was the first EU Member State to specifically regulate the remote gaming industry in 2004 and has ever since established itself as one of the prime jurisdictions for remote gaming operators. The Malta Gaming Authority (“MGA”) is the regulatory of gaming in Malta. The success o...Learn More
Malta has become a destination of choice for the setting up of Payment Institutions (also referred to as Payment Services Providers or PSPs). A number of advantages has contributed to this success, mainly but not limited to the fiscal incentives granted not only to the payment institutions ...Learn More
Electronic Money Institutions
Malta has recently seen an increase in the number of Electronic Money Institutions (EMIs) looking to set up their operations in Malta. This has been largely due to the growth in the e-commerce and the i-gaming industries. Such EMIs are regulated by the Financial Institutions Act and t...Learn More
Initial Coin Offering (ICO) Services
Malta has always been on the forefront of technology and innovation. In the past months, a number of initiatives have been launched, aimed at establishing an innovative and attractive regulatory framework for entities operating in blockchain (and distributed ledger technologies), virtual cu...Learn More
Prospects – Services of a Corporate Advisor
‘Prospects’ is a new platform set up by the Malta Stock Exchange in line with its commitment to open up new capital market opportunities, create economies of scale and to afford businesses more competitiveness and sustainability. Through ‘Prospects’, SME’s wil...Learn More
Assistance to Family Businesses
Malta has recently introduced legislation to encourage good governance in the management of family businesses, to assist family businesses to operate their business in an efficient way and to assist such family businesses to transfer their business from one generation to the other. Malta is...Learn More