Condominium Services

The condominium is any group of four or more tenements, in one building where the common parts are shared. This would include the common entrance, stairways, lifts servicing the entire block and other shared areas. Keeping the condominium in good shape, including regular cleaning and maintenance, is essential to the value of your property. A very beautiful apartment will only be worth the investment if the block it is housed in, is also well maintained. The administration of a condominium … 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

Opinion: A Commercial Court for Malta ?

Earlier in 2017, the Ministry for Justice, Culture and Local Government held a public consultation, titled “Setting up of the Civil Court, First Hall, Commercial Section“.  This was concluded in July 2017. While we have not been active in commercial litigation for a relatively long while, we still believe that this is the way forward.  Questions included whether there should be a commercial section within the civil arm of the Maltese courts, and whether the remit should be wider than matters … Continued

FIAU Press Release on Penalties

Following the coming into force of the Various Financial Services Laws (Amendment) Act, 2017 (Act XXVIII of 2017) on the  1st December 2017, publication of administrative penalties imposed by the Financial Intelligence Analysis Unit (“FIAU”) for one or more contraventions of the Prevention of Money Laundering Act (“PMLA”) and/or of the Prevention of Money Laundering and Funding of Terrorism Regulations no longer falls under Article 13A of the PMLA but by the new Article 13C. Article 13C now provides for the … Continued