The amendments to the Company Service Providers Act (‘the Act’) introduced by virtue of Act X of 2025 pertain to those individuals offering directorship or company secretary services. New definitions have amended and/or fully replaced existing ones.
Notification Requirement
As of 19th May 2025, natural persons offering corporate services not by way of business and holding up to five (5) involvements, across a maximum of two (2) corporate groups (Restricted Company Service Providers) are now subjected to a new notification obligation, which must be complied with by the 16th of July 2025. Failure to meet the prescribed deadline may lead to action being taken by the regulator or the imposition of administrative fines.
Do You Qualify for an Exemption?
In order to qualify for the exemptions set out by the MFSA, whereby you would not be required to notify the MFSA, you must satisfy any one (1) of the below criteria:
1. Are a natural person whose involvement and contribution to the company emerges out of:
- An Employment Agreement entered into between the company and the individual; or
- Have direct or indirect beneficial interest in the company; or
- Familiar relations, i.e. consanguinity and/or affinity; or
- Their sole professional duties to act as directors or company secretaries within a licensed Corporate Services Provider (CSP).
2. A person acting in the capacity of director, company secretary, or partner, or presenting themselves as such within:
- An entity licensed, registered, or supervised by the MFSA or a foreign regulatory authority, including any of its parent undertakings; or
- A firm authorised to act as a trustee or to carry out fiduciary functions under the Trusts and Trustees Act; or
- A company whose securities are officially listed on the Malta Stock Exchange or another regulated international market (excluding issuers listed solely on the Prospects multilateral trading facility((MTF)).
Registration Requirement
Natural persons offering directorship and company secretary services by way of business and who hold no more than ten (10) involvements (Limited Company Service Providers) are now subjected to a new registration obligation.
How Can We Help You
At Gonzi & Associates, Advocates, we specialise in helping individuals navigate regulatory compliance with clarity and precision. If you’re uncertain about your obligation to submit a Notification or a Registration with the MFSA, our team can provide a comprehensive assessment of your current positions to determine your exact legal position.
We don’t stop at advice – we go further. Our lawyers deliver clear, tailored legal advice and opinions on whether an individual’s specific circumstances would require him/her to notify or register with the MFSA. Should you fit under these criteria, we offer hands-on, step-by-step guidance and assistance throughout the entire notification and/or registration process, including completing and submitting the relevant forms and supporting documentation through the MFSA License Holder Portal.
