The Malta Stock Exchange has recently announced the formation of 3 working committees aimed at expanding and enhancing its business development objectives in 2016 and beyond. One working committee shall focus on Islamic Finance, which has been identified as one of the key areas to enhance Maltese capital markets. In a statement, the Malta Stock Exchange said that it...
Transport Malta’s annual report, published in January 2015, stated that as at the end of December 2014, the number of ships registered under the Merchant Shipping Act stood at 6,667 for a total gross tonnage of 57.9 million. This result continues to consolidate Malta’s position as the largest European ship register and one of the ten largest...
New regulations have been introduced aimed at attracting third-country national investors to Malta by issuing a residency certificate entitling the investors to settle or stay indefinitely in Malta. The Malta Residence and Visa Programme was launched on 28 of August 2015, . These regulations seek to attract foreign, third national investors to Malta by providing for the...
The Government has published two Legal Notices in relation to the changes to the maternity leave system: – the Trust and Trustees (Maternity Leave Trust) Regulations (Legal Notice 257 of 2015); and – the Social Security Act (Amendment of Tenth Schedule) Order, 2015 (Legal Notice 258 of 2015). As of 1 July 2015, a Maternity Leave Trust has been...
Malta’s position as a key player in the world’s maritime industry has led to the establishment of a reputable flag of choice, confidence and quality, through the open Maltese register for ships, bareboat charters and mortgages. This was highlighted by David Zahra in an article published in a Special Supplement dedicated to ‘Malta: Transport Shipping &...
The Government of Malta has recently issued Legal Notice 225 of 2015 which brings into force amendments to the Highly Qualified Persons Rules. The Highly Qualified Person Rules apply a beneficial tax rate of 15%, on employment income derived in respect of work or duties carried out in Malta, to individuals holding a senior position...
Malta’s decision to retain its “professional investor fund” regime alongside the AIFMD regime was acclaimed by both speakers and participants at a seminar organised by the international law firm Withers, Bank of Valletta, Valletta Fund Services and David Zahra & Associates Advocates. The seminar, entitled “Ahead of the curve: il mercato unico degli AIF in...
Evidence of Malta’s growth as a domicile of choice for the incorporation of companies is the number of companies being registered with the Registry of Companies in recent years. The number of companies registered in Malta has now topped the 70,000 mark, the Minister for Finance said during a half-day conference organised by the Malta Law...
David Zahra has been invited to be part of the panel discussion on “Islamic Finance: How plausible is it for Malta?” as part of FinanceMalta’s programme for its 8th Annual Conference to be held on 21 May 2015 at the Grand Master Suite, Hilton Malta. The panel discussion will be moderated by Reuben Buttigieg (President, World Islamic...
Europe’s ambitious infrastructure targets are only one of the many opportunities that exist for the development of an Islamic finance industry in Europe. The required investment is so massive (estimated at €2 trillion) that governments and the private sector necessarily need to look for and tap into alternatives sources of funding. Islamic financial structures can...
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