Risk-based approach to Supervision or Monitoring of VASPs (Virtual Asset Service Provider)
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Risk-based approach to Supervision or Monitoring of VASPs (Virtual Asset Service Provider)

Risk-based approach and what it entails When tack­ling AML/CFT (Anti-Mon­ey Laundering/Countering the Financ­ing of Ter­ror­ism), the risk-based approach aims to build those mea­sures to pre­vent or mit­i­gate that are equal to the ML/TF (Mon­ey Laundering/Terrorist Financ­ing) risks iden­ti­fied by the rel­e­vant coun­tries and oblig­ed enti­ties. When it comes to super­vi­sion, this approach applies to how...

The importance of AML compliance
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The importance of AML compliance

In the busi­ness world, com­pli­ance is a very impor­tant fac­tor as it is a vital ele­ment that pro­vides cred­i­bil­i­ty to the sec­tor and aids in build­ing trust. Said com­pli­ance is a major func­tion of a com­pa­ny to its stake­hold­ers and when exe­cut­ed prop­er­ly, com­pli­ance forms the basis behind the why and how of a com­pa­ny...

Summary of the MFSA Circular to VFA Service Providers
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Summary of the MFSA Circular to VFA Service Providers

The MFSA issued a Cir­cu­lar on 6th Sep­tem­ber 2019 to the VFA Ser­vice Providers. The Cir­cu­lar is regard­ing the licens­ing require­ments. VFA Ser­vice Providers who are oper­at­ing in tran­si­to­ry would need to com­mence the license appli­ca­tion by not lat­er than the already stip­u­lat­ed dead­line, that being on the 31st of Octo­ber 2019. The Cir­cu­lar applies...

Essential Duties and Responsibilities of a Director
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Essential Duties and Responsibilities of a Director

Introduction As many of you are aware, com­pa­nies are formed and found­ed by share­hold­ers, how­ev­er, this does not mean that the com­pa­ny is man­aged and admin­is­tered by its share­hold­ers. On the con­trary, each com­pa­ny has its offi­cers, each hav­ing dif­fer­ent roles, respon­si­bil­i­ties and pow­ers for the man­age­ment and admin­is­tra­tion of the com­pa­ny. The first direc­tors...

Blockchain Client of Dr Werner & Partner
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Blockchain Client of Dr Werner & Partner

We are pleased to announce that Dr Wern­er & Part­ner could onboard a new client, whom we will advise and assist in migrat­ing an exit­ing busi­ness case onto the blockchain, to imple­ment vir­tu­al / cryp­to cur­ren­cies as pay­ment meth­ods online and to mar­ket the busi­ness mod­el through an ini­tial coin offer­ing (ICO, Tok­eniz­ing). Our client...

Controlled Foreign Corporate Taxation of Maltese Companies in Germany
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Controlled Foreign Corporate Taxation of Maltese Companies in Germany

Ques­tions as to which tax­es and inter­na­tion­al­ly oper­at­ing com­pa­ny must pay in which coun­tries are not easy to answer. In our dai­ly work at the law offices of Dr. Wern­er & Part­ner, an increas­ing num­ber of com­pa­ny own­ers are approach­ing us with the desire to move their com­pa­nies to Mal­ta in order to save tax­es....

Is A Malta Limited Still Legal in 2018?
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Is A Malta Limited Still Legal in 2018?

2017 was undoubt­ed­ly a tur­bu­lent year for the whole “tax world”, and not just for us in the law office of Dr. Wern­er and Part­ner. At the begin­ning of the year the Pana­ma Papers (and now in Octo­ber the Par­adise Papers) were set free; leaked. The results of both instances are rough­ly com­pa­ra­ble. There area...

Administrative obligations of a Maltese company (limited)
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Administrative obligations of a Maltese company (limited)

Dr Wern­er & Part­ner offer their clients an all-round ser­vice cov­er­ing all indi­vid­ual areas of pro­fes­sion­al exper­tise. In addi­tion to com­pa­ny estab­lish­ment in Mal­ta this also includes ongo­ing sup­port for the Mal­tese lim­it­ed com­pa­ny. The fol­low­ing list is intend­ed to give you a brief overview of the doc­u­ments which have to be sub­mit­ted punc­tu­al­ly to...