On July 29th, 2024, the Malta Business Registry (MBR) published a notice of amendment to the general proviso in the Memorandum and Articles of Association to read as follows:
Nothing in the foregoing shall be construed as empowering or enabling the company to carry out any activity or service which requires a notification, licence or other authorisation under any law in force in Malta without such notification, licence or other appropriate authorisation from the relevant competent authority and the provisions of Article 77(3) of the Companies Act shall apply.
Furthermore, the amendment was made to refer to, inter alia, the obligations of the persons involved in foreign direct investment. They are required to submit a notification to the National Foreign Direct Investment Screening Office, should the provisions of CAP 620 apply.
Implementation Date
The new proviso came into effect on 1st August 2024. After this date, the Memorandum and Articles of Association using the old proviso are no longer accepted.
As Malta Company Formation & Registration Agents we highly recommend seeking expert advice when drafting the Memorandum and Articles of Association of your new company in Malta. Contact us for a consultation to discuss your business requirements.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
