On May 19, MLT FSA issued circular re company services providers act.
MLT FSA commented following issue of the Company services providers act X of 2025.
In May 2025, MLT PRL issued Act X of 2025 company service providers, see #255044.
On same day MLT FSA also issued updated Guidance Note on the Application of the Company Service Providers Act to take into account the amendments made to the Act.
Drew attention to the changes made to interpretation of the term by way of business.
Also issued new rulebook applicable specifically to Limited Company Service Providers.
Rulebook for Limited Company Service Providers is tailored to reflect the limited activities of such category of CSPs whilst establishing obligations to ensure compliance in the provision of their services and a sound understanding of risks being exposed to.
In addition the MLT FSA will shortly publish updated FAQs for CSPs.
Act X of 2025
Amendments by Act No. X of 2025 are introduced pursuant to MLT FSA's exercise in 2024 to identify areas for proportionality to be introduced within CSP framework whilst ensuring continuous adherence to Malta’s international commitments.
Key changes affect mainly individuals providing the services of a director or company secretary or holding a similar position in other legal entities to various extents mainly with respect to the number of involvements held.
Changes impact mainly Class B CSPs through concepts: Registration and Notification.
Amendments have been made to Company Service Providers (Fees) Regulations (L.N. 89 of 2025), Company Service Providers (Exemption) Regulations (L.N. 90 of 2025).
Registration Requirement
Art 3A(2) of Act establishes a new registration requirement for individuals providing directorship/company secretary services in a company or holding a similar position.
Such individuals referred to as Limited Company Service Providers in the Act can hold up to ten (10) Involvements; the Registration Form to be submitted for the purposes of article 3A(2) of the Act is accessible through the Authority’s website.
Notification Requirement
Art 3B(1) of the Act establishes a new notification requirement for individuals providing directorship and/or company secretary services in a company or a similar position in other legal entities without holding themselves as providing such services.
Such individuals referred to as Restricted Company Service Providers in the Act can hold up to five (5) Involvements with a maximum of two (2) groups.
Form to be submitted for the purposes of art 3B is accessible via MLT FSA LH Portal.
MLT FSA has issued a new Guidance Note on the Notification Process for Restricted Company Service Providers laying down the step-by-step procedure to be followed with respect to the submission of the Notification Form.
Effectiveness
Changes to Act, the Subsidiary law and the Rulebooks apply from date of publication.
MLT FSA drew attention of individuals falling within definition of Restricted Company Services Providers of the transitory period established under article 20 of the Act which requires such individuals to submit the Notification Form within two (2) months from the coming into force of the changes to the Act, namely no later than Jul. 16, 2025.
