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The new Malta Small Commercial Yacht Code (SCYC), effective from 1st April 2024, renders the Maltese Flag even more attractive, filling a regulatory gap in the market. The SCYC caters for the specific needs of Small Commercial Yachts, meaning yachts from 12 meters to 24 meters in length, engaged in commercial operations, with a passenger limit of 12.
The Code is ...
Starting from January 1st 2024, the value added tax for those clients, wanting to rent a small ship under 24 meters in length, used solely for the navigation within the territorial waters of Malta, was reduced to a Malta VAT rate of 12% for short-term boat hires (Legal Notice 231 of 2023).
What do you need to consider?
For short-term hiring (up ...
The gross domestic product (GDP) growth of the EU’s southernmost country is projected to reach to 4.0% in 2023, and to ease slightly to 3.8%, and 3.7%, in 2024 and 2025, respectively.
Still, these figures show that Malta’s economic growth is forecast to remain robust with an inflation rate projected to moderate to 3.3% in 2024 and 3.1% in 2025.
Malta's economy ...
Making Malta the jurisdiction of choice for the niche superyacht industry by fostering a sustainable ecosystem supported by reliable infrastructure, quality services and a skilled workforce – this is the key factor of the Malta Government’s new strategic vision for the further development of the maritime sector on the Maltese Islands.
Over the last 16 years, the number of superyachts exceeding ...
Over 800 exhibitors and sponsors, around 25,000 delegates and 250 speakers – these are the record figures of this year’s SIGMA EUROPE, taking place in Malta from 13 – 17 November 2023. The current year features a record demand for the leading iGaming show, gathering the world’s gaming community on the 'Roc in the Mediterranean'.
The team of Kresse Law will ...
In Malta, one gaming license can cover a number of companies (minimum 2 operational entities and one holding company as the parent), each of them then being authorised to operate as an MGA licensee.
The Malta Gaming Authority (MGA) predominantly offers two types of licences, either a business-to-customer (B2C) license to provide gaming services, or a business-to-business (B2B) license to provide ...
These three words spoken by CEO Ivan Filletti of Gaming Malta perfectly capture the positive sentiment behind this year’s Casino Beats Summit at the Intercontinental Conference Centre in St. Julian’s, Malta (23 – 25 May 2023).
Kresse Law attended the two-day conference, which gathered over 2,000 I-Gaming leaders and industry experts, with an agenda focused on Global Casino, leadership and affiliation.
On ...
As a member of the Finance Malta delegation Dr Kresse International Law Firm and its consulting arm KME Consulting Group will participate in the conference for family offices, high net worth wealth managers and private banks from the DACH region.
The PRIVATE DACH WEALTH FORM is going to take place in Vienna on 9th May 2023 at the prestigious location of ...
Leading German commercial law firm: Over 10 years of Malta expertise and high client confidence
For over 10 years, since February 2013 to be exact, the German law firm DR KRESSE INTERNATIONAL LAW FIRM has been advising primarily German-speaking clients on their business in and via Malta as an international hub.
The firm's founder and owner, Dr Hermann Kresse, former in-house counsel ...
The framework conditions for foreign investment in Malta have been strengthened further by a recent initiative of Malta’s financial watchdog.
MFSA, the Malta Financial Services Authority, launched a new Corporate Governance Code for authorised entities on Friday, 5th August 2022.
The Code provides a list of guiding principles, designed to enhance the legal, institutional, and regulatory framework for good governance in the ...
The FATF is a global anti-money laundering institution. It monitors the integrity of the international financial system across countries. Thus, as the responsible organisation, it has put an end to the discussions surrounding the 'GREY LISTING' of Malta, the well-known financial centre of the Mediterranean.
The Prime Minister of Malta, Robert Abela, said in the Malta Independent: 'Malta has implemented its ...
Malta being at the heart of the Mediterranean, is a centre of excellence in the remote gaming sector globally. There are many reasons which show Malta’s attractiveness as a jurisdiction, including a mature and professional ecosystem surrounding the gaming industry. These are just a few of the reasons as to why big brands and other players come to Malta:
1. English ...
Which companies are affected?
Large international groups of companies with an annual turnover combined financial revenues of more than €750 million are to be subject to a minimum income tax of 15 per cent from 2023. Such a tax regime would in Malta probably only affect some 18 to 20 large international players from the gaming and financial/corporate services sectors.
For all ...
The Malta Permanent Residence Programme (MPRP), is open to all third country, non-EEA and non-Swiss nationals, with a stable income and sufficient financial resources.
1. Key Features that set the MPRP apart from other programmes, include:
In a governance note published on 9th March 2021 the MFSA has emphasised that the creation of a sound compliance culture should be the foundation upon which Company Service Providers (CSPs) build their structures.
Compliance as a top-down exercise
At Board of Directors’ level, MFSA stipulates, that this has to translate into practicing a culture of compliance and determining the means with ...
In today's business world, access to banking solutions is becoming increasingly difficult. If the client due diligence (CDD) has been successfully completed, setting up a company per se is work that requires legal and tax expertise, but through structures and guidelines of the respective company law as well as the responsible commercial register (for Malta: Malta Business Registry, MBR) based ...
Malta is still the leading international online gaming jurisdiction. With over 250 registered online gaming companies, more than 600 active licenses and over 8,000 professionals, the online gaming sector is one of the most dynamic economic sectors in Malta.
Since the law reform in August 2018, the remote gaming application process has changed:
1. Gaming licenses are now valid for 10 years
After ...
What is a PTC?
The Private Trustee Company (PTC) is a company form recognized in Malta since April 2016 having the legal nature of a limited liability company (LLC). As a trust, the purpose of the company is to manage family assets, including real estate, for the benefit of present and future generations. Similar to a will, it enables the settlement ...
The year 2020 will be a year of new beginnings for Malta; the island state is faced with the task of regaining the trust that was called into question under the old government, rebuilding its good international reputation, making its governmental and administrative structures more transparent and efficient and positioning Malta even more clearly as an international investment location.
New Prime ...
After more than 7 years of successful work in the southernmost country of the European Union, the still booming Malta, we are expanding our consulting activities. The demand for serious, German and English speaking legal, tax and business consulting for companies and private clients has increased.
Therefore, we are looking for young lawyers, experienced in English, who have a solid basic ...
The so-called patent box scheme, enshrined in Article 12 (1) (v) of the Malta Income Tax Act, had been closed on 3rd June 2016 for new applications. This patent box was a preferential tax regime for intellectual property (IP) royalties and similar income derived from patents in respect of inventions, copyright and trademarks, exempting those from tax completely.
For “old” registrations ...
A new Gaming Bill will be tabled in the Malta Parliament in the next weeks. Government thus wants to ensure that the Maltese jurisdiction provides a safe and efficiently regulated environment where the Gaming industry can further develop and innovate. The new legislation is expected to help the industry to grow by another 4 per cent.
Key features of the New ...
Up until recently, the Scottish Limited Partnership (SLP) presented an option for individuals interested in forming a corporate structure being a legal entity of its own and allowing the ultimate owners a level of confidentiality at the same time.
An SLP must have at least one general partner, who is responsible for management, debts and other obligations and at least one ...
The element of skill and knowledge involved in fantasy sports, such an activity should be differentiated from games of chance in terms of licensing and regulation.
This relates specifically to fantasy sports where players choose virtual representations of real-life athletes, where the value and points attributed to an athlete reflect the athletes’ performance in actual sporting events, and where the outcome ...
What has a trusted platform for international intellectual property (IP) to offer? Well, it is all about protecting, managing and commercialising ideas and innovations across the whole IP value chain. In this respect Malta offers very interesting opportunities for companies and individuals to exploit their IP assets.
Maximising IP Asset Value
Whether referring to patents, trademarks, copyrights or designs, the common character ...
The Maltese property market will become more flexible since properties owned by more than one owner can now finally be sold by majority decision.
A recent amendment to the Civil Code had come into effect as of 1st April 2016. It allows the majority of owners in a shared property to be able to decide to sell the property by requesting ...
Non-EU nationals and their dependents may now reside, settle or stay indefinitely in Malta subject to the conditions of the new Malta Residence and Visa (MRV) Programme, which was officially launched on 22nd March 2016 in Shanghai.
Universal Schengen Visa
This residence scheme offers its beneficiary and dependents the possibility of cross-border movements via a universal Schengen Visa. This means that such ...
Gross Domestic Product in real terms went up by 6.3 per cent in 2015, making the Maltese economy one of the best performers in the EU, official figures issued on 8th March show.
GDP in 2015 amounted to €8,796.5 million, an increase of €712.3 million or 8.8 per cent (nominal) when compared to 2014.
Positive Outlook of Rating Agency
Ratings agency Standard and ...
With improved connectivity and more promotional initiatives from the Maltese side, the German-speaking market has the potential to grow further in the coming years. This relates not only to tourism, but to business in general.
Attractive flight offers by Air Malta and Ryanair, to name just two airlines, and specific advertising campaigns are expected to provide additional exposure for the Maltese ...
In 2016 a general regulatory overhaul is planned to take shape with the development of a new Gaming Act, creating a coherent governance and regulatory framework for all forms of gaming licensed in Malta.
More coherence and performance of both the industry and the jurisdiction are the main aims to be achieved by the new legislation. The Malta Gaming Authority (MGA) ...
Attracting consumers is the most important consideration for gaming operators, whether it is through traditional or digital means of advertising, or via inducements and bonuses. In light of this, the proper regulation of advertising of gaming services is of high importance.
Since marketing and advertising are a critical part of any gaming service and consumers are faced with a wide array ...
Financial services are one of the important sectors of the Maltese industry. Beyond the firms that cater to the local market many companies registered and operating from Malta mainly address foreign customers.
When being licensed in Malta companies can use the EU passport to use their license in other jurisdictions, obviously depending on the level of activities that they wish to ...
With currently around 280 online gaming operators, licensed by the Malta Gaming Authority, and over 500 licenses issued Malta has become a popular home to around 10 per cent of the global remote gaming market.
What makes Malta so attractive for I-Gaming?
It is indeed a combination of a lot of factors that results in attracting more and more businesses in the ...
The remote gaming industry has continued to grow in Malta in 2015. During the first six months of the past year 2015 a number of 43 new remote gaming licences were issued by the Malta Gaming Authority; during the same time the regulator terminated 22 licences and suspended a total of 8 licences.
Distribution of Licences by Class Type
The picture by ...
As a leading German Law Firm, based in Malta, Kresse International has become a member of Finance Malta, a public-private initiative set up to promote Malta’s international business and financial centre.
The services of Kresse International focus on German speaking clients using Malta as a hub for their international business. Thus company set-ups, corporate services, tax compliance as well as Malta ...
At short term notice a slow-down for the world economy in 2016/2017 is forecasted by the OECD (Organisation for Economic Cooperation and Development). The increasing number of geopolitical risks plays a major role, but so do climate change, the refugee crisis and growing nationalism. The World Bank warns of a decade of slow growth in the emerging markets with some ...
These three words spoken by CEO Ivan Filletti of Gaming Malta perfectly capture the positive sentiment behind this year’s Casino Beats Summit at the Intercontinental Conference Centre in St. Julian’s, Malta (23 – 25 May 2023).
Kresse Law attended the two-day conference, which gathered over 2,000 I-Gaming leaders and industry experts, with an agenda focused on Global Casino, leadership and affiliation
On ...
