CSP Reform Deadline Coming Up
The industry is reminded that the deadline for applicants for authorisations under the updated Company Services Providers regime will lapse on the 16th May 2021. Persons who fail to apply for the necessary authorisation and do not cease their CSP activity by this Sunday 16th May would be in breach of applicable law and unable to avail of the transitory period allowed by the MFSA.
The above applies to persons who were previously exempt, namely warranted professionals and de minimis operators providing directorships, company secretarial services, registered office and/or incorporation of companies. The CSP reform, however, requires all such providers to be authorised under the Company Service Providers Act, irrespective of the size of the business and client base.
We at DF can assist in connection with the above, including how the new regime could potentially impact your business as well as the authorisation and ongoing requirements that may be applicable to you. For further information and assistance, please do not hesitate to contact us on dfcs@dfadvocates.com .