NFDI Provides Update Regarding Notification Forms

The National Foreign Direct Investment Screening Office ("NFDI Office") was set up in Malta, in order to implement the provisions of EU Regulation 2019/452. On the 14th of October 2020, the NFDI Office published a Circular on its website whereby it notified Corporate Service Providers that Notification Forms must only be submitted to the NFDI Office when all of the 3 below-mentioned conditions are met:

1. Where the Ultimate Beneficial Owner, whether existing or new, is a 'foreign investor' (natural person of a third country or an undertaking of a third country, intending to make or having made a Foreign Direct Investment) and is an individual who has a direct or indirect economic ownership and/or voting rights of 10% or more, or control by other means in the Maltese investment;