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Trusts, Foundations and Wealth Management

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Trusts, Foundations and Wealth Management

Mandatory Enrolment or Listing of all Voluntary Organisations in Malta

This article was written by Dorita Cardona and Joshua ChircopRecent amendments to the Voluntary Organisations Act in Malta have introduced new provisions requiring foundations, trusts, associations and other organisations which qualify as Voluntary Organisations to mandatorily enrol or enlist as Voluntary Organisations with the Commissioner for Voluntary Organisations.The Commissioner has announced that all Voluntary Organisations are required to bring themselves in line with the Act by the 30th June 2019.The Administrators of Voluntary Organisations who fail to enrol or enlist by the deadline shall be guilty of an offence and shall be liable on conviction to a fine of not…
Dorita Cardona
22nd May 2019
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Trusts, Foundations and Wealth Management

Re-Domiciliation of Foundations to Malta

​This article was written by Dr Dorita Cardona and Dr Joshua Chircop.​Maltese law allows for the continuation of foreign foundations and associations in Malta. This was introduced by the Voluntary Organisations (Amendment) Act, 2018, by virtue of Act No. XXXVI of 2018, which made a number of changes to the Second Schedule of the Civil Code, being the law that regulates organisations in Malta (the 'Second Schedule'). An organisation is defined as a universality of persons who associate, or a universality of things which are appropriated to achieve a lawful purpose having a form recognised by law, and which is…
Dorita Cardona
14th March 2019
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Trusts, Foundations and Wealth Management

Amendments to the Voluntary Organisations Act

The Voluntary Organisations (Amendment) Act, 2018 (the "Act") was promulgated on the 6th November, 2018 to amend the Voluntary Organisations Act and to make consequential and other amendments to the Civil Code and to the Second Schedule to the Civil Code, the Public Collections Act, the Notarial Profession and Notarial Archives Act, the Arbitration Act and the Companies Act.The Act introduces categories of voluntary organisations ("VOs"), namely, government organisations, religious organisations and political organisations. It also incorporates new definitions for lawful purpose, market levels and market conditions and permissible private benefit.New rules have been introduced vesting the Commissioner for VOs…
Joshua Chircop
7th November 2018
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Trusts, Foundations and Wealth Management

Amendments to the Voluntary Organisations Act

The Voluntary Organisations (Amendment) Act, 2018 (the "Act") was promulgated on the 6th November, 2018 to amend the Voluntary Organisations Act and to make consequential and other amendments to the Civil Code and to the Second Schedule to the Civil Code, the Public Collections Act, the Notarial Profession and Notarial Archives Act, the Arbitration Act and the Companies Act.The Act introduces categories of voluntary organisations ("VOs"), namely, government organisations, religious organisations and political organisations. It also incorporates new definitions for lawful purpose, market levels and market conditions and permissible private benefit.New rules have been introduced vesting the Commissioner for VOs…
Joshua Chircop
7th November 2018
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Corporate and M&ATrusts, Foundations and Wealth Management

Post-Brexit: Establishing a Higher Educational Institution in Malta

 This article was written by Dr.Edmond Zammit Laferla, Dr.Dorita Cardona and Dr.Joshua Chircop.Following the decision of UK voters to exit from the European Union in 2016, several international schools and universities have been expressing interest in establishing higher educational institutions in Malta.Why Malta?The market for higher educational institutions in Malta has increased exponentially in recent years. The number of licensed entities is growing steadily. Malta is an EU member state and as such benefits from direct access to the EU single market. This means that higher educational institutions that establish themselves in Malta will be able to passport into the…
Edmond Zammit Laferla
12th October 2018
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Corporate and M&ATrusts, Foundations and Wealth Management

Post-Brexit: Establishing a Higher Educational Institution in Malta

 This article was written by Dr.Edmond Zammit Laferla, Dr.Dorita Cardona and Dr.Joshua Chircop.Following the decision of UK voters to exit from the European Union in 2016, several international schools and universities have been expressing interest in establishing higher educational institutions in Malta.Why Malta?The market for higher educational institutions in Malta has increased exponentially in recent years. The number of licensed entities is growing steadily. Malta is an EU member state and as such benefits from direct access to the EU single market. This means that higher educational institutions that establish themselves in Malta will be able to passport into the…
Edmond Zammit Laferla
12th October 2018