ARTICLE · 01 NOVEMBER 2013

The Company Service Providers Bill, 2013

EMD Advocates

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The purpose of this proposed Act is to implement Article 36 of Directive 2005/60/EC of the European Parliament and of the Council of 29 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, in so far as the said article applies to company service providers.

MaltaWealth Management

Edward Camilleri

Overview of the Bill

The purpose of this proposed Act is to implement Article 36 of Directive 2005/60/EC of the European Parliament and of the Council of 29 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing, in so far as the said article applies to company service providers.

The proposed law establishes the requirements needed to obtain a license to provide the services of a company service provider.

A 'company service provider' is defined in the Bill as a natural or legal person which, by way of business, provides services to third parties including the formation of companies or other legal entities, acting or arranging for another person to act as a director or secretary to a company, a partner in a partnership or any similar position with regards to legal entities, as well be involved in providing a registered office, business correspondence or an administrative address as well as any

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