Individuals and entities providing corporate services such as the provision of directorships, company secretarial services, registered offices or incorporations must as of Tuesday register as Company Service Providers with the MFSA. 

The regulatory change, brought about through amendments of the Company Services Providers Act, gives the Malta Financial Services Authority oversight over operators who previously fell below a threshold established in the act. 

These warranted professionals and operators must now fill in an application form to be registered as Company Service Providers with the MFSA.

The application form must be accessed from the MFSA website and submitted through the LH Portal from March 16 to May 16.

CSPs who were already registered as such do not need to register and their registration will be automatically converted under the CSP Act. The MFSA will contact them in due to course to inform them of their class categorisation. 

MFSA’s Head of Conduct Supervision Emily Benson said that the reform would “place Malta at the forefront of good international practice with respect to protecting the integrity of the financial system and the broader economy from undesired and illegal activity. 

“It is part of a coordinated effort geared towards combatting financial crime, including money laundering and terrorism financing, on a national and international scale,” Benson said. 

Further information about the CSP Reform including guidance on completing the application form can be found on the MFSA website. The Authority will also be organising a number of webinars in the coming weeks to provide additional support to applicants.

Queries should be addressed to the Authority via email on cspframeworkqueries@mfsa.mt.

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