The Malta Business Registry (MBR) amended 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 authorization under any law in force in Malta without such notification, licence or other appropriate authorization from the relevant competent authority and the provisions of Article 77(3) of the Companies Act shall apply.

This amendment was made to refer to inter alia the obligations of the persons involved in a foreign direct investment to submit a notification to the National Foreign Direct Investment Screening Office should the provisions of CAP 620 apply.

The new proviso shall come into effect from 1st August 2024. Thereafter Memorandum and Articles of Association using the old proviso will not be accepted.

For the MBR’s notice click here.

The National Foreign Direct Investment Screening Office has moved from Birkirkara to AM Business Centre, Triq il-Labour, Zejtun ZTN 2405. This is the same premises occupied by the Malta Business Registry.

We are pleased to inform you that the public consultation and the call for evidence related to the evaluation and possible revision of the FDI Screening Regulation have been published and they are open for contributions until 14 July 2023.

Here for the consultation.

Here for the call for evidence.

You are kindly asked to invite your regular interlocutors such as law firms, colleagues, consultants, businesses involved in transactions subject to FDI screening to provide their contribution.

The European Commission publishes the second annual report on FDI screening together with the annual report on export control. Both reports have been adopted by the Commission on 1st September 2022.

A press release on both reports is available on the Commission’s website.

The National Foreign Direct Investment Screening Office (NFDIS) was inaugurated by the Minister for the Economy and Industry Silvio Schembri, Chairperson of the NFDIS Mr Mario Galea, and Director General for Trade of the European Commission Dr Damien Levie.

Minister Silvio Schembri stated that the office screens investment of strategic importance in sectors such as energy, transport, health, artificial intelligence, infrastructure, and cybersecurity. He described how through this office, information can be exchanged, facilitating a transfer of knowledge and build-up of intelligence.

View for more details and highlights.

The National FDI Screening Office : Malta and Malta Employers Association – MEA have agreed to collaborate on the sharing of best practices and on promoting publicly available information to the benefit of the respective members.

Mr Mario Galea for NFDIS and Mr Joseph Farrugia for MEA, signed a collaborative agreement which for the coming three years, establishes the National FDI Screening Office as one of the main collaborative partners within the meaindex.com online platform.

Bethany Magro, our Chief Operations Officer at our recently established National FDI Screening Office, tells how the regulation represents a crucial shift for the EU during an exclusive interview with Malta Business Weekly.

https://maltabusinessweekly.com/a-stronger-framework-for-investment/13002/?fbclid=IwAR2Zs7-srbvFBkyzHCWRG529c0BarhZAV2CNFIFZ2hurADHRBbJ6DvdaBo8

“NFDIS Malta tgħin biex terġa tinbena l-fiduċja u l-kunfidenza f’investiment dirett barrani u biex jiġi żgurat li l-investituri barranin imexxu n-negozju f’pajjiżna b’integrità u trasparenza.”

Aqra iktar – https://www.tvm.com.mt/mt/news/ufficcju-li-jiffacilita-l-process-ta-investiment-fpajjizna/?fbclid=IwAR0PT8pc4fyH-icqs5UMZUaaie8RrdANwJ8JzOlGeS0OEcam65WZkrB-1ZI

In March of 2019, the European Parliament and Council enacted Regulation (EU) 2019/452, which established a framework for the screening of foreign direct investments into the European Union. The regulation, which entered into force in April of the same year, applies to transactions taking place post-October 2020 onwards.

The FDI Regulation represents a crucial shift for the EU, as for the very first time, screening of foreign direct investments is being regulated at EU level. In fact, this development has the potential to significantly impact those investors from third countries that consider investing in the EU. More importantly, it can also be of relevance to the interests of EU investors. Read more.

All interested practitioners are hereby being informed that the National Foreign Direct Investment Screening Office (hereinafter ‘the Office’) has been set up in order to implement the provisions of Regulation (EU) 2019/452 establishing a framework for the screening of foreign direct investments into the Union.

The scope and remit of the Office shall be to screen new FDI projects, joint ventures with a foreign component and the transfer of any shares and/or controlling interests in existing companies where the owner, titleholder or ultimate beneficial owner originates from third countries (that is, any country which is not a member of the European Union).

The purpose of the screening process is to protect European Union intelligence, knowledge and technology as well as the security interests of the Union.

Click here for more information.