Notice on Penalties

The Registry of Companies wishes to notify authorised representatives of all Companies registered in Malta that following an extensive and thorough enhancement of its software, an upgraded system will go live as from the 23rd January 2017. The system will, on the basis of companies’ records held at the Registry of Companies, generate the following…

Notice to Company Directors

Company directors should be aware of new accounting rules which have become applicable for financial years commencing on or after 1st January 2016, relating to the preparation and presentation of annual accounts. It is the responsibility of directors to ensure that annual accounts in respect of their company are prepared and filed with the Registrar…

Changes in Companies Act

Directive 2013/34/EU of the European Parliament and of the Council regarding annual financial statements of companies was transposed in Maltese laws by means of Legal Notice 289 of 2015 entitled “Accountancy Profession (General Accounting Principles for Small and Medium-Sized Entities) Regulations, 2015”, and amendments to the Companies Act, 1995. The changes will affect financial reporting…

Duty on Document Evidence

Following amendments made to the Duty on Documents and Transfers Act in 2010, in particular to article 64(1) of the said Act, which is quoted below, please note that the Registrar of Companies may not accept for registration any document or notice regarding a transfer of shares, an increase or reduction in the issued share…

Notice Regarding Article 211 of the Companies Act

Article 211 of the Companies Act, concerning the private exempt company, has been amended to the effect that the condition that a body corporate shall not hold, or have interest in, any shares or debentures of the company for a company to be able to qualify for the status of exempt company has been removed.…

Registry of Companies Fees

Please note that as from 1st September 2011 the payment requested by the Registrar of Companies in respect of the cost of the publication of notices in a daily newspaper shall be as follows. Amalgamation/Merger of Companies €50 Division of Companies €50 Cross-Border Merger €100 Conversion of Company/Partnership €50 Reduction of Capital €50 Contribution Reduction/Assignment…

Libya Sanctions

Legal Notice 69 of 2011 (as amended by Legal Notice 77 of 2011) - United Nations Sanctions (Libyan Arab Jamahiriya) Regulations Council Regulation (EU) No 204/2011 of 2 March 2011 concerning restrictive measures in view of the situation in Libya Council Implementing Regulation (EU) No 233/2011 of the 10 March 2011 implementing Article 16(2) of…

Knowing your responsibilities and duties

As directors and company secretary of a newly registered company you should be aware of your responsibilities and duties under the Companies Act. The company is a separate legal person, distinct from the shareholders or the directors. You are therefore expected to act honestly and in good faith in the best interests of the company.…

Acquisition of shares in Maltese Companies by Non-Resident Shareholders

Legal Notice 178 of 2004 (Revocation of Restrictions Regulations, 2004) which has come into force on the 19th April 2004, has revoked all restrictions previously imposed by the External Transactions Act. Regulation 3(3) nevertheless states that “Applications by residents of a nonEEA country for the issue, acquisition, sale and redemption of securities not listed on…

Submission of Documents

With effect from the 1st September 2002 the Registry of Companies shall be implementing a new requirement in connection with the registration of companies and certain statutory forms. This requirement seeks to meet the demands of current international standards, which emphasise the importance of establishing the identity and of retaining proper identification records of owners…