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Micro Invest – Tax Credits for Micro Enterprises and the Self-Employed

Micro Invest – Tax Credits for Micro Enterprises and the Self-Employed - Ecovis Malta
The objective of the Micro Invest scheme, lead by the Malta Enterprise, is to encourage start-ups, family businesses, and the self-employed to invest in their business and expand their operations. The scheme aims to support micro-enterprises and the self-employed through...
Employment Legal Amendments Introduce Proportionality of Probationary Periods for Fixed Term Contracts - Ecovis Malta

Employment Legal Amendments Introduce Proportionality of Probationary Periods for Fixed Term Contracts

On 20 December 2022, legal amendments to the Employment and Industrial Relations Act (EIRA) imposed the obligation of proportionality of probationary periods for fixed term employment contracts.  In line with the new amendments, probationary periods for fixed term employment relationships...
FIAU Issues 2023 Risk Evaluation Questionnaire Deadlines - Ecovis Malta

FIAU Issues 2023 Risk Evaluation Questionnaire Deadlines

Following the publication of its set of FAQs on the submission of Risk Evaluation Questionnaires (REQs), the FIAU has now published its timelines for submission. Completion of REQs: Subject persons will be able to access their respective REQs on the...
Malta Business Registry Shuts Down Public Access to Beneficial Owners Register - Ecovis Malta

Malta Business Registry Shuts Down Public Access to Beneficial Owners Register

On the 25 November 2022, the Malta Business Registrar announced that the Malta Business Registry (MBR) is limiting access to the register of beneficial owners to competent authorities and subject persons only.  As a result, the beneficial owners register will...
Malta Budget 2023 - Ecovis Malta

Malta Budget 2023

Yesterday evening, the Minister for Finance Clyde Caruana announced the national budgetary estimates for 2023.  The Finance Minister also explained that in 2022, the economy is expected to grow by 6% while in 2023, the economy is expected to increase...
The MFSA publishes the Corporate Governance Code for Authorised Entities - Ecovis Malta

The MFSA publishes the Corporate Governance Code for Authorised Entities

On the 5 August 2022, the Malta Financial Services Authority (MFSA) published the Corporate Governance Code which is applicable to all persons authorised by the authority.  The newly published Corporate Governance Code applies to all persons authorised by the MFSA to...
MFSA Issues Source of Wealth Guidelines & Self-Declaration Form - Ecovis Malta

MFSA Issues Source of Wealth Guidelines & Self-Declaration Form

The Malta Financial Services Authority (MFSA) issued a notice stating that it will be accepting a self-declaration on Source of Wealth as part of the PQ requirements, in lieu of the audited statement of wealth the Authority had been requesting...
EU Work-Life Balance Directive: Maltese Employees to Benefit from Paternity, Parental, and Carers’ Leave - Ecovis Malta

EU Work-Life Balance Directive: Maltese Employees to Benefit from Paternity, Parental, and Carers’ Leave

Services offered by ECOVIS Malta: Legal consulting; drafting of HR guidelines, manuals, policies and procedures; Employment Law; EU workplace compliance advisory On 12 July 2022, the Government announced a legislative package to transpose the EU’s Work-Life Balance Directive, adopted in...
Malta’s Offers to the Film Industry: Locations, Expertise, and Financial Incentives - Ecovis Malta

Malta’s Offers to the Film Industry: Locations, Expertise, and Financial Incentives

As filming for Ridley Scott’s Napoleon drama, starring Joaquin Phoenix and Vanessa Kirby, gets underway in several locations across the island, the Maltese film industry ramps up to offer the star-studded production the best it can offer in terms of...
COVID-19 Tax Deferral Scheme - Ecovis Malta

COVID-19 Tax Deferral Scheme

Companies to Settle Payment by December 2024 On 11 May 2022, the Ministry for Finance and Employment (MFE) issued a press release setting the timing for the payment of taxes initially deferred under the COVID-19 Tax Deferral Scheme.  The Scheme,...
Malta launches Nomad Residence Permit - Ecovis Malta

Malta launches Nomad Residence Permit

In June 2021, Residency Malta Agency introduced a new temporary residency scheme entitled: the ‘Nomad Residence Permit’. The aim of this program is to enable non-EU individuals to work remotely whilst living in Malta. Holders of the Nomad Residence Permit...
Maltese Trusts - Ecovis Malta

Maltese Trusts

Maltese Trust law, based on the Trust (Jersey) Law of 1984, is regulated by the Trusts and Trustees Act, which enables both residence and non-residents to set up various types of Trusts in Malta. A Maltese trust may be set...
EU General Data Protection Regulation (GDPR): New rules across the EU - Ecovis Malta

EU General Data Protection Regulation (GDPR): New rules across the EU

What is the GDPR? Earlier this year, the European Council adopted the General Data Protection Regulation (‘GDPR’) in a bid to reform the current data protection laws among EU Member States. As the law stands today, all Member States have...