Author: nfdisadmin

The Malta Business Registry (MBR) amended the general proviso in the Memorandum and Articles of Association to read as follows;   Nothing in the foregoing shall be construed as empowering or enabling the company to carry out any activity or service which requires a notification, licence or other authorisation under any law in force in Malta without such notification, licence or other appropriate authorisation from the relevant competent authority and the provisions of Article 77(3) of the Companies Act shall apply.   This amendment was made to refer to inter alia the obligations of the persons involved in a foreign direct investment to submit a notification to the National Foreign Direct Investment Screening Office should the provisions of CAP 620 apply.   The new proviso shall come into effect from 1st August 2024. Thereafter Memorandum and Articles of Association using the old proviso will not be accepted.   For the MBR's notice click here....

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The National Foreign Direct Investment Screening Office has moved from Birkirkara to AM Business Centre, Triq il-Labour, Zejtun ZTN 2405. This is the same premises occupied by the Malta Business Registry....

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On 28 November 2023, DG TRADE published the results of the open consultation organised this summer to contribute to the evaluation and revision of the EU FDI Screening Regulation. The 47 contributions of stakeholders confirmed that the screening of FDI to protect security and public order remains more important than ever. At the same time, there is room to improve the current rules set out in the EU FDI Screening Regulation.   A summary report and the individual contributions are available here and here.   DG Trade thanks you for your contributions....

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The third annual report on FDI screening has been adopted by the Commission, on 19 October 2023. It has been published and is available in all EU languages under the following link. There is also a press release about the report and a Brochure encompassing the report on FDI Screening and its accompanying Staff Working Document, as well as the Statistical Update on Export Control, with a foreword by the Executive vice-President Valdis Dombrovskis....

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We are pleased to inform you that the public consultation and the call for evidence related to the evaluation and possible revision of the FDI Screening Regulation have been published and they are open for contributions until 14 July 2023.   Here for the consultation. Here for the call for evidence.   You are kindly asked to invite your regular interlocutors such as law firms, colleagues, consultants, businesses involved in transactions subject to FDI screening to provide their contribution....

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The European Commission publishes the second annual report on FDI screening and the annual report on export control. Both reports have been adopted on 1st September 2022 and are available in all EU languages under these links:   Second annual report on FDI screening and accompanying staff working document : https://ec.europa.eu/transparency/documents-register/detail?ref=COM(2022)433&lang=en Annual report on export control: https://ec.europa.eu/transparency/documents-register/detail?ref=COM(2022)434&lang=en   The Commission produced a Brochure encompassing both reports and the Staff Working Document on FDI screening, with a foreword by the Commission's Executive vice-President....

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The European Commission publishes the second annual report on FDI screening together with the annual report on export control. Both reports have been adopted by the Commission on 1st September 2022.   A press release on both reports is available on the Commission's website....

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The European Commission (EC) published the very first Annual Report on the implementation of the FDI Screening Regulation. The Annual Report draws on a number of sources, including the reporting by Member States pursuant to Article 5 of the FDI Screening Regulation. Prior to the entry into force of the FDI Screening Regulation on 11 October 2020, there was no EU-wide formalised cooperation among Member States and the European Commission on these matters. The European Commission had no role in the screening of FDI into the EU. This Report provides transparency around the operation of FDI screening in the EU, and developments in national screening mechanisms. It contributes to the accountability of the Union in an area where, given the security interests at stake, transparency regarding individual transactions is neither possible nor appropriate. This first Annual Report, based on the reports by the 27 Member States and other sources, confirms the clear value-added of the Regulation and the cooperation mechanism. More information here. ...

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The National Foreign Direct Investment Screening Office (NFDIS) was inaugurated by the Minister for the Economy and Industry Silvio Schembri, Chairperson of the NFDIS Mr Mario Galea, and Director General for Trade of the European Commission Dr Damien Levie.   Minister Silvio Schembri stated that the office screens investment of strategic importance in sectors such as energy, transport, health, artificial intelligence, infrastructure, and cybersecurity. He described how through this office, information can be exchanged, facilitating a transfer of knowledge and build-up of intelligence.   View for more details and highlights.                     ...

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