On the 1st January 2017, the Family Business Act (Chapter 565 of the laws of Malta) came into force in Malta with the aim of, inter alia, encouraging the regulation of family businesses, their governance and the transfer of the family business from one generation to the next, thereby assisting family businesses to enhance their internal organisation and structure with a view to working towards a seamless and effective succession of the family business.
An overview of the various legal issues to be considered when launching your Malta start-up business
In an interview conducted by AirMalta’s popular in-flight magazine, ‘Il-Bizzilla’, our Managing Partner, Dr Richard Bernard, discusses Malta’s ‘coming of age’ as a European financial services centre and explains what makes Malta so attractive to financial services operators.
An overview of Malta’s Recognised Incorporated Cell Companies (RICC) regulatory regime which effectively extended the ‘cellular’ concept to the world of hedge funds by introducing a ‘platform’ type of model comprising a RICC providing standardised administrative services to any number of incorporated cells (IC), each duly licensed as a collective investment scheme or fund, which administrative services largely consist of routine contractual matters and start-up support.
Perhaps one of the clearest manifestations of the legislator’s general mandate to protect those in a weaker, more vulnerable position, is that afforded to minority shareholders in virtue of the company law remedy of unfair prejudice.
The concept of ‘majority rule’ dictates that within a company structure, a minority shareholder will effectively have little control over the way the company is operated. It has long been recognised that this can lead to problems of minority oppression.