FOCUS ON

Five Years of Maltese Residency by Investment

In August 2015, the Maltese Government introduced changes to Chapter 217 of the Laws of Malta, permitting foreign investors to obtain a Permanent Residence permit in Malta. This is done by means of investing in government bonds under the Malta Residence and Visa Program (MRVP). This change in law gives Third-country nationals the opportunity to…

Protecting Consumer Rights During a Pandemic – An Unprecedented Challenge

Published also in Times of Malta (Click to access the content) Covid-19 has dramatically changed the world around us and in an effort to limit the spread of the virus and safeguard public health, several industries have been significantly disrupted. On a local level, organised events, including all cultural, recreational and entertainment events and exhibitions…

Re-opening of Courts’ Registry as from 4th May 2020

The registry of the Courts of Justice has re-opened as from today, Monday 4th May 2020, pursuant to legal notice 177 of 2020 which amends the Closure of the Courts of Justice Order. This effectively means that ALL court acts and judicial proceedings may from now onwards start to be filed again, irrespective of whether…

Contractual Obligations Amid a Pandemic – To What Extent Can a Default Be Excused?

The outbreak of the COVID-19 pandemic has by and large effected a wide spectrum of individuals and businesses who have been heavily impacted financially by an unprecedented and unexpected event to the extent that many are encountering difficulties in honouring obligations contracted in a pre-COVID19 world. To make matters worse, following the Superintendent of Public…

ECB provides temporary relief for capital requirements for market risk

The European Central Bank (ECB) announced (click to view the content) a temporary reduction in capital requirements for market risk, by allowing banks to adjust the supervisory component of these requirements. The measure aims to: Maintain banks’ ability to provide market liquidity and to continue market-making activities Temporarily reduce a supervisory measure for banks (the qualitative…

COVID-19: Subsidised Interest Rates Scheme Announced

The Maltese Government has just announced another measure in response to the COVID-19 pandemic so as to continue to aid businesses survive this crisis. Essentially through this measure, companies which resort to a loan to finance the current costs due to the COVID-19 outbreak will benefit from a 2.5% subsidy on interest rates for the…

Moratorium on Credit Facilities in Exceptional Circumstances Regulations

By means of the Moratorium on Credit Facilities in Exceptional Circumstances Regulations, 2020 (Legal Notice 142 of 2020) (the ‘Regulations’), and with the aim of mitigating the serious disturbance to the Maltese economy which threatens the financial stability of Malta, credit and financial institutions have been obliged to grant a moratorium on capital and interest….

Suspension of Legal and Judicial Times

Ever since the outbreak of the COVID-19 pandemic in Malta, there have been a number of legal notices regulating judicial proceedings and the relative time frames. Such proceedings have been largely impacted following the closure of the courts by means of the Closure of the Courts of Justice Order, L.N 65 of 2020 (the “Order”)….

Betting Companies to benefit from Gaming Tax and Fee Deferrals

Taking into account the challenges being faced by certain gaming operators particularly due to the cancellation of several sporting activities, the Malta Gaming Authority (MGA) has introduced the following measures to aid licensees that offer betting to their players: a.     A 3-month deferral will apply for the payment of compliance contribution and gaming tax owed…

Finding the Perfect Balance between Employer and Employee Protection following the Outbreak of COVID-19

This article aims to shed further light on the various concerns which are currently being brought up by Maltese Employers due to the current pandemic. Employers are being faced with the dilemma of ensuring their duty of care towards their employees whilst at the same time safeguarding their business during this turmoil. The below is…