Chetcuti Cauchi Advocates > Valletta, Malta > Firm Profile

Chetcuti Cauchi Advocates

Malta > Private client Tier 2

The team at Chetcuti Cauchi Advocates is ‘highly trustworthy, innovative in their approach and professional.’ Senior partner Jean Philippe Chetcuti has an established track record in acting for ultra-HNWIs in wealth planning, international tax matters and residency and citizenship issues, and is ably supported by the ‘superbMarina Magri and the ‘exceptionalMagdalena Velkovska. Antoine Saliba Haig is very experienced in assisting clients in relation to Maltese citizenship law.

Practice head(s):

Jean-Philippe Chetcuti; Magdalena Velkovska; Marina Magri; Antoine Saliba Haig; Priscilla Mifsud Parker


‘We have a superstar client point of contact in Magdalena Velkovska. We use the firm for everything – setting up and managing entities, asset purchases and disposals, citizenship, tax, and as such use members of the entire team. She provides a superior, single point of contact. ’

‘Marina Magri is also superb and worthy of special mention for patience, efficiency, precision and clarity. ’

‘Magdalena Velkovska is a very knowledgeable and competent lawyer. Her experience is evident as she is even pre-empting what would my questions be, what I would be concerned about – and she addressed all these points in the most calm, clear and understandable way. She was very diligent, reliable and prompt in handling all my matters and applied thorough legal analysis to my case, unlike the previous lawyer I had engaged. She is very easy to work with, and I would definitely recommend her.’

‘Well organised, focused, team drawn from an international talent pool. Easy to deal with, using technology effectively to ease the customer journey. Good use of collaboration tools to communicate and gather data, to streamline the processes.’

‘Jean-Philippe Chetcuti -responsive, strategic, great with clients a really great knowledge of all things private client, with a really international outlook.’

‘Antoine Saliba Haig -Very professional and extremely user friendly. Very responsive and helpful.’

‘They are highly trustworthy, innovative in their approach, well trained and professional.’

‘We have worked with Magdalena Velkovska, and she is exceptional, detailed, and deal oriented. She has responded in time, giving us, prompt, well explained detailed information on the subject. ’

Malta > Shipping Tier 2

The team at Chetcuti Cauchi Advocates is 'very knowledgeable in yachting and shipping', and 'able to provide practical insight together with legal acumen'. Charlene Mifsud heads up the practice, in which senior associate Susanna Grech Deguara is a key name. The duo field expertise in yacht acquisitions, tax-related matters, and financing issues.

Practice head(s):

Charlene Mifsud

Other key lawyers:


‘The team is able to provide practical insight together with legal acumen. This is indeed very helpful in the shipping industry.’

‘We have worked closely with Susanna Grech Deguara who has been exceptional in her work. Very diligent and prompt to reply. She has always guided us well and has supported our company throughout.’

‘Very knowledgeable in yachting and shipping. Has know-how in the areas and cover related areas also such as structure advise, tax, VAT. ’

‘Susanna – very knowledgeable and practical. Great project management skills.’

‘The shipping team at Chetcuti Cauchi is very knowledgeable and has a good command of the law. They have been very helpful and have always guided me very well. They have an efficient billing system and they have always replied to my queries promptly. It has been a pleasure to work with them. ’

‘I have been assisted by Susanna Grech Deguara and her team. She has been amazing. Always fast to reply and very knowledgeable. It is clear that she has been in the industry for a good while and knows all the players in the field well. ’

Key clients

Przemyslaw Klimczak

Secret Island Charter Ltd

General Gas Ltd

Monaco Boat Services (Riva)

Oceanus Marine

Quickly Group Holding Ltd

Classic Charter Ltd

LMS Yachting Ltd

Jeolson Law

FLE Marine Ltd

Piotr Trojanek

Polar Bear Project Ltd

Mamy Chartering Ltd

Concord Riva

Larimar Ltd

Raghav Marine

Work highlights

  • Assisted Przemyslaw Klimczak with EU yacht importation matters.
  • Advised Secret Island Charter on a yacht commercial registration issue.
  • Advised General Gas Ltd on shipping and importation matters.

Malta > Aviation Tier 3

Corporate partner Charlene Mifsud heads up the aviation practice at Chetcuti Cauchi Advocates. The 'very knowledgeable and helpful' team includes the 'exceptional' associate Susanna Grech Deguara, who garners praise for her 'professional knowledge' in the aviation sector and is well versed in advising on AOL applications and operational matters under Maltese regulations.

Practice head(s):

Charlene Mifsud

Other key lawyers:


‘The team have provided us with general aviation advice. They have a very good transport team which helped us well. As a firm, we could see that they embrace technology very much, and this has made the process easier and more efficient for us.’

‘Susanna Grech Deguara has been exceptional in her help, both in the shipping and aviation issues we had. Together with her professional knowledge, she has been working in the field for some time and therefore knows the ins and outs of the industry. ’

‘Very knowledgeable and helpful team. Partner attention is constant. Assistance on all aspects including VAT and tax.’

‘Susanna – very knowledgeable and practical. Charlene – very down to earth and helpful – always makes herself available.’

‘The level of professionalism and knowledge of the lawyers at Chetcuti Cauchi – together with being very knowledgeable and valuable, they have a big social heart. I follow the number of initiatives they do to give back to society. For me as a client, this is very important. ’

‘I have worked with partner Charlene Mifsud and associate Susanna Grech Deguara. Both have been great and have been very helpful. They are fair and just and have always guided me well. It was a breath of fresh air to meet competent lawyers with a heart who always do their best to provide an excellent service. Highly recommended! ’

Key clients


Sapia Aviation



Work highlights

  • Assisting a group of investors with AOC and AOL applications in Malta.

Malta > Commercial, corporate and M&A Tier 3

Chetcuti Cauchi Advocates‘ ‘very knowledgeable‘ team focuses on M&A, company formations, re-domiciliation and foreign direct investment matters. Charlene Mifsud is well versed in advising international clients on establishing business operations in Malta, and provides ongoing corporate and commercial support.

Practice head(s):

Charlene Mifsud; Priscilla Mifsud Parker


‘Skilled, reactive, good approach, dynamic. It’s a young team, well prepared.’

‘They are very well connected. They are very much involved in all relevant industries in Malta. We like that Chetcuti has very strong female leaders.’

‘Charlene Mifsud’s support is always great. She knows how to handle difficult questions. We fully trust her and she always comes up with practical solutions.’

‘It is my privilege to recommend Chetcuti Cauchi Advocates as an outstanding law firm in Malta, who I have frequently engaged for commercial and company law matters. The partners are all very knowledgeable of the Maltese Law and I find they have a focused and pragmatic approach which is their key strength. The firm is always prepared to go that extra mile for his clients, and I wouldn’t hesitate to recommend Chetcuti Cauchi to companies and individuals as an absolute first-class Law firm. ’

‘The unique knowledge of Malta context and legal framework, as well as the ability to support international groups, with presence across multiple countries. Their guidance has been paramount to ensure compliance to the latest EU legal frameworks. The ability to closely follow the client and tailor services to context and needs has been unique and widely appreciated.’

‘Charlene Mifsud strives to ensure client’s needs are fulfilled to satisfaction.’

Key clients

Sunshine Law Firm


Foxgo Technologies Ltd


Naelia Technologies Ltd


FLE Media Ltd

Work highlights

  • Advised Sunshine Law Firm on various commercial matters concerning its photovoltaic project within Malta.
  • Advised 56Bit on a shareholder agreement.

Malta > Intellectual property Tier 3

The team at Chetcuti Cauchi Advocates is 'very knowledgeable' on a broad range of IP matters. Maria Chetcuti Cauchi and associate Susanna Grech Deguara are well known for handling franchising and licensing agreements, as well as brands, patents and trade mark work. Corporate expert Charlene Mifsud is a name to note.

Practice head(s):

Maria Chetcuti Cauchi; Charlene Mifsud

Other key lawyers:


‘It was very important for us to have an experienced team by our side. They have helped us very much and have always delivered.’

‘Susanna Grech Deguara has led the project and has helped us invaluably. She knows the industry and the law well and has always guided us well. ’

‘Very knowledgeable team, able to assist and coordinate several jurisdictions.’

‘Susanna – very helpful and practical. Maria – very available and attentive and extremely technical.’

‘The team was very helpful in all the stages of the patent filing.’

‘Highly approachable and knowledgeable about the timelines involved.’

Key clients

General Gas Ltd

University of Malta

Ing. Sean Agius

Betting Games Network Ltd.

Azure Holding Limited

Aqua Group Ltd

Camel Brand Co Ltd

Cabinet Chaillot

Polinno Group

Altern Limited

General Supreme Ltd

Arcus Management Ltd

Sovereign Order of Saint John of Jerusalem (S.O.S.J.)

KováriPatent and Trademark Attorneys’ LLC

Actio IP

D Young & Co LLP- U.K.

Cooley (UK) LLP

Beyond Attorneys at

Epic 88 Ltd.

Cutajar Lighting Ltd.

Bird & Bird

Daa Daa Daa Holding Ltd. (Iniala)

Form Matters


Calleja Ltd

Croce Bonaci Caterers

Premium Accounting

Work highlights

  • Advised General Gas Ltd on a rebranding process.
  • Assisting University of Malta with obtaining an international patent.
  • Assisting Croce Bonaci Caterers with trade mark protection matters.

Malta > Real estate Tier 3

At Chetcuti Cauchi Advocates, the real estate team is well versed in handling real estate finance, commercial leases, and private rental matters. Practice co-heads Maria Chetcuti Cauchi and Charlene Mifsud regularly represent real estate investors, advising on investments made via private equity and real estate funds.

Practice head(s):

Maria Chetcuti Cauchi; Charlene Mifsud


‘Easy communication and very helpful, very supportive and collaborative. ’

‘The team has consistently demonstrated their exceptional expertise and commitment to excellence. They have proven time and again to be a trusted partner in navigating the complexities of real estate transactions. Their team of knowledgeable attorneys possesses an in-depth understanding of the real estate landscape, offering invaluable insights that have greatly benefited me and my business. Their responsiveness, clear communication, and willingness to go the extra mile to meet client objectives set them apart in the legal industry.’

‘Charlene Mifsud is as an exceptional lawyer and the leader in the field of real estate. She consistently demonstrates a remarkable ability to navigate any real estate issue with precision and professionalism in a best possible scenario could be achieved in certain situation and circumstances. She is highly respected among peers and recognized for her contributions to the field of real estate.’

The firm: Chetcuti Cauchi Advocates is one of the top-ranked firms throughout The Legal 500 Malta.  With offices in Malta’s legal and financial capital city, Valletta, the firm is recognised as key player offering legal, tax and corporate services.

Providing a full spectrum of in-house client-focused services, Chetcuti Cauchi Advocates advises high-net-worth individuals and their families, as well as both small and large corporations, with all their needs. The firm’s success in this area is notable as a result of its exponential growth and expansion across various emerging industries.  Despite its growth, now consisting of a team of over 170 people, the firm is dedicated to providing personalised services to its clients and being the go-to advisory firm for individuals seeking a first class service.

The firm enjoys sound management, a fresh outlook, and state-of-the-art practice management technology which was built in-house and with a client-centric advisory focus. Chetcuti Cauchi Advocates is well positioned to service clients ranging from high-net-worth individuals and families, owner-managed companies to Fortune 500 companies.

Areas of practice
Family and wealth: Chetcuti Cauchi helps HNW families structure their family wealth and business interests in a sustainable legal and tax-optimised manner. It also helps set up family investment and co-investment platforms and helps implement listing and exit strategies.

Residency and citizenship law: its immigration team assists people wishing to relocate and retire to Malta using the appropriate Malta programme, whether this involves the attainment of citizenship or through one of the current residency programmes.

Yachts, aircraft and art: Chetcuti Cauchi holds strong ties with surveyors, yacht management companies, financial institutions, insurance companies and banks which allow it to provide a one-stop-shop service from Malta. The main aim behind its art law team is to provide the artistic and creative industry with practical legal advice and assistance.

Tax: Chetcuti Cauchi’s tax advisory practice specialises exclusively in tax advisory matters. Its experience ranges from corporate and personal tax, property and value-added tax, through to e-commerce tax, energy tax, trusts and estate planning, investment funds tax and tax disputes.

Corporate law and corporate finance: the firm counsels clients in complex transactions including mergers, sales and purchases of shares and assets, tender offers, exchange offers, and leveraged buy-outs.

Gaming, IP and ICT law: its IP, ICT and gaming practice offers an all-inclusive and holistic service to its clients that is in line with clients’ intricate personal and business legal requirements.

Financial services: its specialist expertise and financial knowledge enables its advisors to provide results-driven commercial advice to financial entities on some of their most complex transactions and to help them address some of their most challenging business issues.

Corporate services: the firm provides full corporate tax services, company administrators, compliance services and training to companies setting up within Malta.

Property: its real estate lawyers and planning experts provide advice on residential, commercial, mixed and industrial real estate purchase and leasing. It also provides consulting services on residential, tourism and industrial real estate development.

Shipping and aviation: its specialised aviation team consists of legal advisors, accountants and tax specialists drawn from its transport, corporate and tax practices who have an unparalleled span and depth of knowledge in the transportation industries. Its consultants provide results-driven practical counsel to its aviation clients on some of their most elaborate and unique transactions.

Commercial: the firm always helps its clients to identify simple, practical solutions, and prefers to avoid costly and time-consuming litigation whenever possible. It understands that its clients need effective, commercially savvy legal advice.

Department Name Email Telephone
Commercial Dr Charlene Mifsud +35622056200
Corporate and Corporate Finance Dr Maria Chetcuti-Cauchi +35622056200
Corporate Services Dr Priscilla Mifsud-Parker +35622056200
Trusts, Foundations, Estates Dr Priscilla Mifsud-Parker +35622056200
Financial Services and Fintech Dr Natasha Cachia +35622056200
Gaming, IP and ICT Dr Maria Chetcuti-Cauchi +35622056200
Property Dr Charlene Mifsud +35622056200
Residency and citizenship Dr Jean Philippe Chetcuti +35622056200
Shipping Dr Charlene Mifsud +35622056200
Tax Dr Jean Philippe Chetcuti +35622056200
Photo Name Position Profile
Natasha Cachia photo Dr Natasha Cachia Partner
Jean-Philippe Chetcuti photo Dr Jean-Philippe Chetcuti Managing Partner
Maria Chetcuti Cauchi photo Dr Maria Chetcuti Cauchi Managing Partner
Luana Cuschieri photo Dr Luana Cuschieri Senior Associate
Wojtek Gadzała photo Mr Wojtek Gadzała Head of Corporate Tax
Susanna Grech Deguara photo Dr Susanna Grech Deguara Senior Associate
Olena Halahan photo Ms Olena Halahan Senior Executive, Corporate Services 
Marina Magri photo Ms Marina Magri Head of Immigration
Charlene Mifsud photo Dr Charlene Mifsud Partner
Priscilla Mifsud Parker photo Dr Priscilla Mifsud Parker Senior Partner
Antoine Saliba Haig photo Dr Antoine Saliba Haig Senior Lawyer
Anna Sultana photo Dr Anna Sultana Associate
Magdalena Velkovska photo Ms Magdalena Velkovska Head of Personal Tax
Number of lawyers : 20+
at this office : 16
Society of Trust & Estate Practitioners (STEP)
IBA (International Bar Association)
International Tax Planning Association (ITPA)
Finance Malta
American Immigration Lawyers Association
Chamber of Advocates. Malta
European Immigration Lawyers Network (EILN)
Malta Chamber of Commerce
IFA (International Fiscal Association)
European Patent Institute
INTA - International Trademark Association


A Mediterranean archipelago, the Maltese islands are located at the crossroads between Europe and North Africa. Long popular for beach holidays, the islands also offer prehistoric temples, fossil-studded cliffs and a history of extraordinary grandeur.

Over the years, the islands have served as a geographical vantage point to its many invaders, with architecture and traditions reflecting a wide range of influences. A bi-lingual nation, both English and Maltese are the official languages of the island state.

Back in 1994, Malta issued a series of laws aimed at making Malta attractive to the foreign investor, a strategy that bore great success. Prior to joining the European Union in 2004, Malta revamped its legislative framework to meet compliance with all prevailing EU directives and requirements. This, together with Malta integration of the region’s common currency, the Euro, continued to propel Malta’s economic success. Nonetheless, the sovereign country’s freedom of movement has been amplified upon becoming a member of the Schengen Area, enabling its citizens to move and travel freely to an additional twenty-six countries.


Malta has a hybrid legal system, as a result of both common and civil law influences. Malta’s EU membership binds it to transpose all EU directives into domestic law and to abide by regulations issued, and decisions taken, by any of the EU institutions.


Malta enjoys a stable and bi-partisan political scene, which is largely convergent on issues of national and economic importance. Being a parliamentary republic fully adherent to its non-alignment provisos, the country enjoys political neutrality in an international context. Indeed, Malta has very good relationships with its neighboring countries, both to the North and the South of the Mediterranean. It also benefits from a well-established network of bilateral and multi-lateral relationships across the globe.

As a crown colony, the country once relied heavily on British commerce for economic growth. However, that changed with Malta’s independence in 1964 when the foundations for a successful economy were laid down. In fact, the islands’ economy has been incredibly resilient even in times of financial turmoil. It was the only state, alongside Germany, to maintain economic growth during the financial crisis.

Over the past five years, Malta experienced increased economic activity and registered some of the highest GDP growth rates in Europe. In 2017, Malta’s GDP grew by 6.6% and registered a surplus of 3.9%. In 2018, GDP was expected to grow by more than 5% with the surplus estimated to be in the region of 1%. In 2019, Malta is set to remain one of the top performers in the European Union with a projected real GDP growth of 5%, much higher than the average 2.0% expected in the Eurozone.
Malta has additionally maintained a steady level of competitiveness, especially with regards to the cost of living, salaries and property. Whilst maintaining traditional sectors such as manufacturing and tourism, new economic sectors have emerged, namely financial services, iGaming and digital technology, as well as within the pharmaceutical industries. Political stability, and Malta’s economic performance, have resulted in a good quality of life, in turn attracting high levels of Foreign Direct Investment, as well as families and retirees choosing Malta as their place of residence.


Malta is a well sought-after destination for businesses and investors who desire a business-ready European location. As a free-market economy, with no restrictions or legal prohibitions on FDI and no exchange controls, Malta benefits from few obstacles to trade and enterprise. The country does not impose any limitations on the inflow or outflow of funds although, business and trade dealings must be in line with EU and national legislation and regulations.

Alongside its booming economic climate, the islands possess a highly professional and multi-lingual workforce, and adopt a pro-business approach which not only encourages business, but is also attractive for new investment

In fact, in the first half of 2018, the level of foreign direct investment in Malta stood at €176.5 billion. This represents an increase of €8.6 billion over the corresponding period during the previous year. Financial and insurance activities contributed €166.4 billion representing 97.3% of the total stock of FDI in Malta.


Malta has always been quick to legislate and to keep up with an ever-changing world and economic and social progress.  It recently implemented sound laws and regulations which, while considerate to the needs of the market, allow businesses to operate in a safe yet attractive environment. In turn, the Maltese legislator has molded Malta into an onshore jurisdiction which offers numerous cost-effective opportunities which continue to entice business to its shores.


Malta’s aviation industry is crucial to its development, as it is one of the main sectors responsible for the country’s substantial economic growth. Apart from being a hub for international commerce and travel throughout history, the island was considered as one of the most strategic geographical points during WWII. Throughout the years, we have seen many multinational companies relocate to Malta, such as Lufthansa Technik, VistaJet and EasyJet. Nonetheless, Malta has implemented the Highly Qualified Persons Rules, which have further attracted various aviation executives to relocate their businesses to our shores.


Malta’s promotion of its arts and culture is at full-speed, thanks to Valletta’s reign as the European City of Culture for 2018. Culture and art are now prevalent on the national agenda and have an immensely important role to play. Indeed, this industry is multi-faceted in nature and addresses the rights of a very wide range of individuals – dealing with artists, art collectors, auctioneers, museum curators and owners of art work, financiers or insurers. Subsequently, art and cultural property touch upon various legislations, including intellectual property laws and taxation laws.


In 2013, amendments to the Maltese Citizenship Act were passed, allowing one to become a citizen of Malta, provided, of course, that the applicant satisfies the relative conditions of the said Act. These amendments provided for the LN of 2014, which kickstarted the Malta Individual Investor Programme (MIIP). The MIIP regulations provide for affluent persons of impeccable repute to be naturalized and to receive Maltese citizenship, by means of a contribution to the Maltese economy. Therefore, upon obtaining citizenship, the applicant would automatically acquire the status of a European Union citizen and obtain access to 160 visa-free destinations, including the USA.


The ever-growing influx of high-net-worth individuals heading to Malta to invest in the country’s extensive investment sectors brought on the demand for sustainable tax planning and legal considerations. Indeed, such a thriving and flourishing sector generally includes trusts law, foundations law and estate management. Malta’s legal system is more than well-catered to suit the needs of HNWs looking to achieve well-established succession, philanthropic and estate planning objectives.


The Financial Services sector in Malta has grown exponentially in the past twenty-five years, as Malta sought to position itself as the jurisdiction of choice for businesses wanting to set up in a business-friendly EU jurisdiction which embraces innovation. The Malta Financial Services Authority (MFSA), which is the sole regulator for financial services in Malta, maintains a pro-business approach and an open-door policy which has led to the growth of the local capital markets, banking, insurance and investment services industries.

Despite the size of the jurisdiction, the local capital markets are steadily thriving and growing in size, liquidity and sophistication. The Malta Stock Exchange (MSE) offers various listing options for seasoned companies as well as small to medium enterprises seeking to raise finance.

The MSE plays host to numerous equity and debt transactions, providing facilities by means of which securities can be admitted to trading, and subsequently traded over a secure, well-regulated secondary market. There are various listing options through the MSE, namely the Official List, the Alternative Companies List, the Institutional Financial Securities Market, and Prospects – a multilateral trading facility aimed at small to medium enterprises and family businesses. Listing on the MSE main market is not only a cost-effective solution of raising finance, but also affords a European Passport, and the prestige and brand exposure that comes with being listed on a European capital market.

Whilst still relatively small, Malta also offers the possibility to set up securitization vehicles as an alternative means of raising finance.

Malta is also becoming an increasingly popular jurisdiction for investment services firms seeking to offer their services to persons in EU member states under the simplified passporting procedure. It is also gaining traction as a funds domicile, particularly through its home-grown hedge fund structure, the Professional Investor Fund, which itself has gained popularity for its flexibility. Malta also offers the possibility of setting up Alternative Investment Funds (AIFs) and Undertakings for Collective Investment in Transferable Securities (UCITS), as well as has recently set up a bespoke Notified AIF (NAIF) regime. The NAIF, which is a fully EU law-compliant product, provides a fast-track possibility of accessing the market within just 10 days, by shifting the burden of regulation onto the Fund Manager and allowing the fund to be notified to the MFSA.

The local banking and financial institution sector has also evolved from a handful of domestic banks into an industry which operates across all the EU Member States, set up as both ‘brick & mortar’, as well as online. The industry is experiencing renewed vigor since the advent of Fintech, which is reshaping the services which consumers are expecting from credit institutions, electronic money institutions and payment services providers.

Malta’s insurance sector is also steadily growing since Malta’s EU accession and now comprises commercial insurance companies carrying out both general and long-term business, subsidiaries of major international insurance and reinsurance undertakings, Affiliated Insurance Companies (Captives) and Insurance Management Companies. Malta has become a particularly attractive domicile for Captives and Protected Cell Companies and is increasingly being eyed as a potential domicile of choice by UK insurance companies seeking an EU domicile post-Brexit.


The Maltese Government is always on the lookout to excel in emerging industries and to convert the Island into specialized centers of excellence. Throughout 2017-2018, the Malta Financial Services Authority, together with stakeholders, drafted the first regulations of the disruptive technologies of blockchain and cryptocurrencies. Towards the end of 2018, three legislative instruments became effective in regulating cryptocurrencies, referring to   virtual financial assets and service providers, distributed ledger technologies, and innovative technology arrangements. A new regulatory authority called the Malta Digital Innovation Technology was also established. The new laws put Malta on the blockchain map with large renowned crypto-exchanges such as Binance, Coinvest and OKEx, as well as other international crypto-based companies, such as Yovo and Neufund, relocating headquarters or opening operations in Malta.


The gaming industry in Malta has flourished in just a decade, making the islands the top European jurisdiction for operators. Malta has now become the foremost legal and operational infrastructure in the gaming industry, a success also synonymous with innovation, professionalism, regulation and trust. In 2018, the laws, rules and regulations governing gambling were complete overhauled in order to meet the needs of the ever-growing gaming presence in Malta. Moreover, the Malta Gaming Authority’s (MGA) role was expanded with further discretion in its compliance and enforcement functions, to better achieve regulatory objectives. To remain at the forefront of gaming laws and disruptive technologies, the MGA also launched a Sandbox Framework, pertaining to the use of Virtual Financial Assets (VFAs) and virtual tokens, as well as Innovative Technology Arrangements (ITAs) within the gaming industry as a means of payment for gaming services.


The island’s fate has always been linked to the sea. Due to its strategic location right in the center of the Mediterranean, alongside its deep and sheltered harbors, Malta has the advantage of being a thriving maritime base. In turn, the country has developed an avant-garde variety of integrated maritime services, complemented by numerous dependable marine facilities. Indeed, the Maltese Ship Registry has experienced steady growth over the years and is the 6th largest registry in the world.

Additionally, the Maltese flag is synonymous to a mature and safe jurisdiction with regard to the world of sailing. Vessels bearing the country’s flag are less susceptible to detainment and inspections at foreign harbors, as Malta’s flag belongs to the White List of the Paris and Tokyo MoU. Moreover, the country also offers cost-effective solutions for yacht owners and shipping companies, while at the same time provides state of the art services and infrastructure to a range of vessels. In the first quarter of 2019, the Commissioner for Revenue of Malta issued new guidelines in relation to the calculation of VAT on the leasing of yachts.



Business in Malta may be conducted through a number of different vehicles such as partnerships, sole proprietorships, branches of foreign companies, co-operatives, trusts, investment companies with varied share capital (SICAV), protected or incorporated cell companies. The most common vehicle is the limited liability company, whilst partnerships are also popular, although the latter are normally associated with the professional services sector. SICAVs are principally used in investment fund structures and incorporated or protected cell companies popular within the insurance sector.

In addition to the various structuring options, Malta offers an attractive tax regime for carrying out business or the holding of investments through Malta.


The ease with which a company can be set up in Malta is a convenient feature of setting up a business here. Provided the requirements of Maltese law are complied with and the necessary due diligence procedures are carried out, a company can be incorporated in as little as 24 to 48 hours from the receipt of documentation.


Malta is a popular and reputable destination for both start-ups and well-established businesses that wish to set up HQs, branches, or finance and investment companies in a European jurisdiction. Due to its pro-business approach, the islands are now home to some 70k companies, with 30% of them having been registered in the last 5 years.

As mentioned above, setting up in Malta is a relatively straightforward process. No licenses or permits are required, save for businesses operating within certain sensitive sectors such as pharma, gaming, finance, insurance and medical sectors.

A brief overview of the benefits which businesses in Malta can obtain through setting up in Malta are:

  • competitive set-up and operations costs, which are 20% to 30% lower than in other European business hubs;
  • a fast track company formation process;
  • an English-speaking, highly professional workforce;
  • business incentives by Malta Enterprise (including tax credits, soft loans and training grants);
  • a favorable tax regime and an extensive double taxation treaty network;
  • EU passporting rights for banks and financial services companies.


Companies incorporated in Malta are deemed to be resident and domiciled in Malta and are therefore subject to tax on their worldwide income less permitted deductions at the corporate income tax rate of 35%. However, income or gains from qualifying investments may be exempt from tax in Malta under the participation exemption provisions.
Participation Exemption

Income or capital gains derived by Malta companies from qualifying “participating holdings” (PH) may be exempt from tax in Malta at the option of the company.

An investment qualifies as a PH where a Malta company is an equity shareholder in another company and:

(a) holds directly at least 5% (five percent) of the equity shares of such a company, which holding confers an entitlement to at least ten percent of any two of the following (“equity holding rights”): right to vote; profits available for distribution; and assets available for distribution on a winding up; or

(b) is entitled at its option to call for and acquire the entire balance of the equity shares not held by that equity shareholder company to the extent permitted by the law of the country in which the equity shares are held; or

(c) is entitled to first refusal in the event of the proposed disposal, redemption or cancellation of all equity shares of that company not held by that equity shareholder company; or

(d) is entitled to either sit on the Board or appoint a person to sit on the Board of that company as a director; or

(e) holds an investment representing a total value, as on the date or dates on which it was acquired, of a minimum of one million, one hundred and sixty-four thousand euro (€1,164,000) (or the equivalent sum in a foreign currency) and that investment is held for an uninterrupted period of not less than183 days; or

f) such shares are held for the furtherance of its own business and the holding is not held as trading stock for the purpose of a trade.

Equity shares refer to a holding of the share capital in a company which entitles the shareholder to at least any two of the following three rights: the right to vote, the right to profits available for distribution to shareholders and the right to assets available for distribution on a winding up of the company. Capital gains derived from the disposal of such PH may be exempt from tax in Malta. Where Malta holding companies receive dividend income from a participating holding, such income may also be exempt from tax in Malta provided that the company in which the PH is held falls within one of the following safe harbors:

  • it is resident or incorporated in the EU;
  • it is subject to any foreign tax at a rate of at least 15%; or
  • less than 50% of its income is derived from passive interest or royalties .

Where a PH does not fall within one of the safe harbors described above, a company may still opt for such income to be exempt from tax in Malta, if both anti-abuse conditions below are satisfied:

  • the equity shares held in the non-resident company do not represent a portfolio investment; and
  • the non-resident company or its passive interest or royalties have been subject to tax at a rate which is not less than 5%.


Where the participation exemption does not apply, upon receipt of a dividend, shareholders of a Malta company, or a foreign company which is resident in Malta for tax purposes, are entitled to a refund of all or part of the Malta tax paid at the level of the company on such income. The type and source of income received by the company must be considered when determining the amount of refund which may be claimed. Shareholders of companies that have a branch in Malta, who are in receipt of dividends out of branch profits subject to tax in Malta, are also eligible for the same tax refunds as shareholders of a Maltese company.

Full Imputation System

Malta operates a full imputation system of taxation whereby shareholders in receipt of dividends out of a Malta company receive a credit for the tax suffered at the company level, thus eliminating any further taxation being due on the dividend by the shareholder.



With the UK projected to leave the European Union by 2020, concerns regarding businesses which presently benefit from the EU market and its harmonization are on the rise. With regards to this, the UK financial services industry is weighing out the options related to the maintenance of passporting rights within the EU. Malta is well positioned to attract such business and offers the possibility of re-domiciling all manner of business and licensed financial services operators, including funds and asset managers, insurance operators, banking and electronic money institutions (EMI). Concerns related to Brexit aside, co-locating to Malta for operational aspects is an ideal prospect. Its favorable tax regime, historical and contemporary ties to the UK, the fluent use of the English language, laws based on common law equivalents, portfolio of fund options, and lastly, its stable financial services industry, all point towards a seamless integration.


Malta’s tax regime has proven beneficial in many sectors and it undoubtedly features very prominently in the property market. Even despite the decade’s worth of global financial and political turmoil, Malta has continued to feature on the radar of investors interested in investing in Europe’s growing property market. The Maltese property rates, nonetheless, have remained relatively stable throughout the years.

Indeed, the tax regime alongside its favorable environmental climate, has attracted many to move their personal and business affairs to Malta or to invest in Malta. The country’s tax system protects both buyer and seller in property deals and has contributed to maintain the strength and perseverance of the Maltese property market, especially with relation to high-end properties. Moreover, residential prices in Malta saw a roughly 17% year-on-year increase from Q2 2017 to Q2 2018, putting the country in the lead worldwide in relation to house price rankings. In the first quarter of 2018 alone, residential prices had undergone a 3.6% average price increase.

The demand for property and steady price increments are nevertheless supported by a strong growth in disposable income, which continues to benefit from advantageous labor market conditions. Nevertheless, the fact that Malta has a low interest rate make it all the more attractive for investment. In turn, these factors continue to contribute to Malta’s exponential growth in lending for house purchases. Nonetheless, the increase in the foreign work force in Malta and, to a limited extent, the MIIP, have also been supporting demand for housing.


Small-to-Medium Enterprises and family businesses lie at the heart of the Maltese economy and the Maltese government is aware of how crucial their contribution is. Intent on fostering the best possible thriving business environment, besides the implementation of a family business legislation which ultimately allows businesses that have a sound business plan to access financial support, the Malta Stock Exchange’s ‘Prospects MTF’ allows SMEs to access finance of between €1 to €8 million.

Therefore, SMEs can confidently seek access to funding without relinquishing ownership or control of their company, through the capital markets, traditionally associated with far higher levels of funding.


Malta implemented groundbreaking legislation in the Blockchain or Distributed Ledger Technology (DLT) field in the shape of a trio of Acts that took force of law in 2018. The Malta Digital Innovation Authority Act (Cap. 591) sets out the basis for the creation of a digital authority, with the remit of regulating innovative technologies. The Innovative Technology Arrangements and Services Act (Cap. 592) sets out the legal basis under which the MDI will regulate such technologies, currently DLT platforms and smart contracts.
The Virtual Financial Assets Act (Cap. 590) regulates the launch of virtual financial assets (VFAs or cryptocurrencies) in or from Malta, as well as those providing services to VFAs, such as advisers, brokers, portfolio managers, or crypto exchanges. The VFA Regulations (S.L. 590.01) provide further guidance on how the act is to be applied in practice.
A national Artificial Intelligence (AI) taskforce has been set up with the vision of making Malta the ultimate AI launchpad, by creating an innovation sandbox and bringing together innovators, business angles, investors and users in a secure environment. No regulation has to date been announced, however the intention with technology with so many potential uses in different fields is for a light touch regime rather than a rigid approach that would stifle the necessary dynamism. The scope of both MDIA and ITAS are expected to include AI in the near future.


Malta is a popular and reputable destination for start-ups and well-established businesses alike, who wish to set up or co-locate in Europe. Due to its long-standing pro-business approach, the islands are now home to over 70,000 international companies, with 30% of them being registered in the last 5 years.
As mentioned above, setting up operations in Malta is a relatively easy process. In general, no licenses or permits are required, save for businesses operating within certain sensitive sectors such as medical/pharma, gaming, financial services and aviation sectors. Convincingly, businesses in Malta can benefit from;

  • a competitive set-up and operational costs, which are 20% to 30% lower than in other European business hubs;
  • a fast track company formation process;
  • an English-speaking, highly professional workforce;
  • business incentives by Malta Enterprise (including tax credits, soft loans and training grants);
  • 5% net effective corporate tax rates and an efficient double taxation treaty network;
  • EU passporting rights for banks and financial services companies.

Interest or royalties are deemed to be passive when they are not derived directly or indirectly from a trade or business and where such interest or royalties have suffered foreign tax at a rate of less than 5%.

Malta to offer a Start-Up Residence Permit

A new directive targeting third-country nationals to invest in a new or existing start-up shall be implemented in the coming months as announced by Malta’s Finance Minister Clyde Caruana. The new Malta Start-Up Residence Programme will be operated by the Residency Malta Agency and the government agency Malta Enterprise.

Malta Stock Exchange: European capital raising now easier for SMEs

While larger enterprises often steal the limelight, small and medium-sized enterprises (SMEs), very often being family businesses, make up the very backbone of most economies, with SMEs constituting the vast majority of companies within the EU. In Malta, 99.9% of Maltese companies are classified as SMEs, with 4.8% classified as small to medium enterprises and 95.1% classified as micro organisations.

EU VAT on Yacht solutions

The yachting industry sails across a dynamic regulatory environment, increasingly leading to more paperwork, administration, checks and procedures.  In this context, and considering that yachts are generally a leisure escape, yacht owners are constantly looking for straight forward solutions that allow them to sail their yachts worry-free. 

Chetcuti Cauchi Advocates Launch Dual Citizenship Report: European Region

Chetcuti Cauchi Advocates released a new report entitled ‘The Dual Citizenship Report’ which explores the treatment and legal status of dual citizenship in European Countries. To commemorate the launch of the report, the partners invited Hon. Prime Minister Joseph Muscat on the 27th September 2017, who signed the first physical copy of the report.