Operation Pedestal – 80th Anniversary Celebrations

Operation Pedestal 1942 is an historic – and heroic – World War II Allied operation that iscommemorated yearly in Malta, to remember the bravery of all those merchant seafarers, and navalas well as other military and civilian personnel who successfully delivered much-needed supplies tothe tiny island of Malta. In Malta, it is known as Il-Konvoj ta’ Santa Maria (Santa Maria Convoy), because it coincides with thefeast of the Blessed Virgin, on the 15 th of August. The Italians, who at … Continued

MBR Publishes Regulatory Amendments

Act LX of 2021 introduces various amendments to the Companies Act, in order to take into account the Digitalisation Directive (which deals with electronic filings). Furthermore, additional duties are imposed in the Registrar and certain additional requirements are put into place. This has created the need for additional forms to be established as well as provisions on the appointment of directors and disqualification provisions for company directors. A person applying to be appointed as director of a company is required … Continued

Condominium Services

The condominium is any group of four or more tenements in the same building where the common parts are shared. A ‘condominium’ would include the common entrance, stairways, lifts servicing the entire block and other shared areas. It is important that the owners of apartments that form part of a condominium keep it in good shape. This includes regular cleaning and maintenance, to preserve the value of your property. A very beautiful apartment will only be worth the investment if … Continued

Are You Coping?

COVID-19 has hit the world a few weeks ago; in Malta it’s been nearly 3 weeks since we all started working from home. The world has been thrown into utter confusion but do we join ranks? At Asteria, we decided to take our equipment home (to the extent we could), and work from our desks, particularly because we are a mix of vulnerable people, those who commute only using buses, and because therefore it makes more sense. The law firm … Continued

Europe celebrates Justice Day!

The 25th October saw Europe celebrate European Day of Justice, an annual day to mark Europe’s commitment to the delivery of justice in its work. The aim behind it is to bring justice closer to citizens, to inform them on their rights and to to promote the work of the Council of Europe and the European Commission in the field of justice, through simulation of procedures and information sessions 16 Member States have mobilised by organising various events such as free … Continued

Malta Visa and Residency Programme

You can get your Malta residency and your Schengen VISA provided you fulfil all the requirements to do so. Why is Malta such a widely sought-after place to live? One can think of beaches, a comfortable lifestyle, good restaurants and the beautiful sea. Malta is also a good place to work or to open a business in because of its successful economy and its geographical location. Malta is indeed an excellent business hub. The Maltese archipelago lies virtually at the … Continued

September is Yacht Show Season

Asteria offers a broad range of services for owners of yachts, from the acquisition and registration of the yacht, to its day-to-day management and until its onward sale. Throughout the yacht’s lifetime, Asteria provides guidance and services that make owning a yacht a pleasurable experience for the owner.  To any owner, a yacht is a high-value asset that is a pleasure to own and that requires proper management and care.  Whether the yacht is a hundred-meter superyacht that needs to … Continued

Best in Yachting Awards – 2018

I recently had the pleasure of being nominated by the Malta Business Review to sit on a panel of judges during the Malta Best In Business Awards 2018, to be held at Castello Dei Baroni in Wardija, Malta. Besides myself, there were other reputable members of the adjudication panel, and the nominees varied.  The Awards were held as part of the Malta Best in Business Awards, an annual event hosted by Malta Business Review as part of its ongoing efforts … Continued

Companies Act – Register of Beneficial Owners

  On the 1st January 2018, new regulations came into force, applicable to companies except where:   They are listed on a regulated market and disclosure is already required under the appropriate regulations; or Companies where shareholders are all natural persons disclosed to the companies registrar.   The First Schedule sets out a form which is to be delivered together with the M&As whenever a new company is being set up. Declarations must be submitted for each beneficial owner and … Continued

Disclosure of Information on Beneficial Ownership – Trusts and Trustees

On the 1st January 2018, new regulations came into force concerning the operation of a Central Register of UBOs for trusts and trustees and for companies, for associations and for foundations.   Regarding trusts and trustees, the rules only apply to express trusts generating tax consequences.  Within 14 days from being appointed as a trustee of an express trust, authorused trustees must submit a declaration of ownership to MFSA where such trust has tax consequences.  The regulations list the information … Continued