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If you are in the process of expanding, diversifying or re-engineering your business, our advisory team can help you make better decisions. The combination of...

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Entities in Malta, including companies, partnerships, foundations, trusts and associations, have an obligation to disclose the ultimate beneficial owner/s (physical person) of the entities. A beneficial owner is defined as the individual (s) who ultimately owns or controls a legal entity or arrangement through direct or indirect ownership of a sufficient percentage of the shares or voting rights or ownership interest in that entity.

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With its balmy Mediterranean climate and favourable business environment, Malta is the ideal place to relocate your family and/or your business.

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The Maltese Citizenship Act (Cap 188) establishes who may become a citizen of Malta by naturalisation, provided that the applicant satisfies the relative provisions.
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With the continuously changing global dynamics and evolving geopolitics, there is an ever-growing number of highly-talented high-net-worth individuals who are willing to invest and relocate to give themselves and their family members the chance to broaden their horizons and become part of a welcoming community.
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The Maltese Citizenship Act (Cap 188) establishes who can register as a citizens of Malta. The Act was amended on 1st August 2007, this making it possible for second and subsequent generations born abroad to acquire Maltese citizenship by registration.

Family businesses

Our business solutions for family businesses center on alignment of all aspects of the family and business, including culture, vision, mission, values,...

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Maltese Family Businesses Resource Centre
For over 30 years Grant Thornton’s advisory teams have assisted family businesses in navigating the challenges of leadership and succession across generations
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Preparing the next generation for leadership and ownership is an integral part of any succession process. Grant Thornton can help formulate the necessary grooming plan for all the potential successors.
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At Grant Thornton, we specialise in providing comprehensive assistance to navigate the complex landscape of National and European Union (EU) funding. Our team...

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Transform the way you go about your business, through the power of digital.

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Shaping Malta's Future: GenAI
Join our exclusive GenAI Design Thinking Workshop with Microsoft and industry leaders. Gain practical insights, explore real-world AI use cases, and leave with a blueprint for your next AI-driven innovation - potentially 100% funded by Microsoft!
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The General Data Protection Regulations (GDPR) have transformed the way we handle personal data. This regulation is a game-changer for businesses operating within the EU, or the handling of EU citizens' data worldwide.
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A study published in 2018 by market intelligence and strategic consultancy firm Prohibition Partners, has forecasted that the European cannabis market will be valued €115.7 billion by 2028. According to the same study, while patient numbers are currently below 100,000 across the region, their number is set to grow to over 30 million in the next decade. In 2018 Malta introduced a bill to legalise the use of medical marijuana and attract companies willing to produce high-grade medical cannabis for the European market.
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Grant Thornton is authorised and regulated by the Government of Malta to handle and submit applications for both citizenship applications as well as residence...

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Any EU, EEA or third country national who resides in Malta for more than 3 months is obliged to apply for a Residence Permit. There are various grounds upon which an applicant may apply to require a residence permit, including: Self-Sufficiency, Employment or Self-Employment, Family Members, Permanent Residence, Study Purposes.
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Malta provides qualified persons employed in the field of aviation with an opportunity to enjoy a 15% flat personal tax rate on income generated from their direct employment in Malta. For a candidate to qualify, their annual income must exceed €45,000. This does not include the value of fringe benefits and applies to the derived income received from an eligible office.
Qualifying Employment in Innovation and Creativity (Personal Tax) (Amendment) Rules, 2019
These Rules allows persons employed in a role directly engaged in carrying out, or management of research, development, design, analytical or innovation activities, to enjoy a 15% flat personal tax rate on income generated from their direct employment in Malta.
Qualifying Employment in Maritime and Offshore Oil & Gas Industry Rule
Malta provides qualified persons employed in the field of aviation, with an opportunity to enjoy a 15% flat personal tax rate on income generated from their direct employment in Malta.
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Related insights:

RESIDENCY Applying for residence in Malta

Any EU, EEA or third country national who resides in Malta for more than 3 months is obliged to apply for a Residence Permit. There are various grounds upon which an applicant may apply to require a residence permit

01 Oct 2019

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2018 Amendments of the Income Tax Act
The following is a brief overview of the new tax provisions introduced in 2018 by the Budget Implementation Act (Act VII of 2018) and other legislative enactments

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Our ESEF reporting service is tailored to assist listed companies in complying with the European Single Electronic Format (ESEF) requirements. As of 2020, ESEF is mandated for annual financial reports of issuers with securities listed on regulated markets. We provide services for mapping the taxonomy and generating audit/regulator-ready xHTML reports.
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Transport Services

Due to the breadth of expertise available, Grant Thornton can provide players in three main sectors of the transport industry; these being Maritime, Aviation,...

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Aviation
The Maltese Government is constantly remaining to improve the position as the best place to do business within the aviation industry through exhaustive tax agreements, powerful legislation, and many aviation professionals. This is the best time for airlines, financiers and aircraft owners to be located in Malta.
Maritime
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The industry is emerging at a very fast rate. Consumers are building the industry by demanding lower prices and findings new ways to buy food and drinks,...

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iGaming

With a sound jurisdiction that steers clear of bureaucracy and that has a proven track record, the iGaming industry in Malta is continuing to build on its...

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Gaming Regulations
Malta recently overhauled the framework regulating the iGaming sector. Going forward operators will still be required to obtain authorisation to carry out regulated activities.
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Prior to submission all applicants are advised to go through a pre-application process with one of the MGA’s Licensing Officers. This will ensure that the application has been correctly compiled and all the key ingredients are present.

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Malta Real Estate Investment Trust (REIT)
As part of the 2019 budget, the government has pledged to introduce a Real Estate Investment Trust (REIT) framework in Malta.

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The hospitality and leisure industry is going through a period of extraordinary, inevitable change and will look very different in 2020 than it does today. On...

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Healthcare is a swiftly changing sector. Providers and commissioners of healthcare encounter the challenges of rising public expectations, an ageing...

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Financial services

Financial services businesses engage in an increasingly complex and heavily regulated environment. Grant Thornton's multi-disciplinary Financial Services Group...

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The Markets in Financial Instruments Directive (MiFID) II
MiFID II aims to protect investors and make sure that financial markets operate in the fairest and most transparent way possible. Building on stock and investment trading regulation introduced in 2007 it sets to ensure a more integrated financial market.
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At Grant Thornton we help innovative firms and entities operating in the fintech space launch new propositions and grow their business. We also help established businesses transform and take advantage of the fintech revolution.
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Grant Thornton combines local insight with global scale to help banks meet regulatory expectations, improve technology, and finance the right companies. If you’re looking for a partner in the banking industry, our expertise can make a difference

Navigating Data Transfers to Third-Country Authorities:

Insights from the EDPB's Latest Guidelines

By:

Niamh Dalton

16 Jun 20252 min read

In today's interconnected world, businesses often need to transfer data across borders to ensure smooth operations and compliance with international regulations. The European Data Protection Board (EDPB) has recently published the final version of its guidelines on data transfers to third-country authorities, providing crucial insights for businesses and the general public.

Understanding the Guidelines

The EDPB's guidelines aim to clarify the conditions under which personal data can be transferred to authorities in countries outside the European Union. These guidelines are essential for businesses that operate internationally, as they help ensure that data transfers comply with the General Data Protection Regulation (GDPR) and protect individuals' privacy rights.

Key Points to Note

Legal Basis for Transfer: The guidelines emphasise the importance of having a legal basis for data transfers. Businesses must ensure that any transfer of personal data to third-country authorities is backed by appropriate legal grounds, such as international agreements or specific derogations under the GDPR.
Risk Assessment: Before transferring data, businesses should conduct a thorough risk assessment to evaluate the potential impact on individuals' privacy. This includes considering the legal and regulatory environment of the third country and safeguards in place to protect the data.
Transparency and Accountability: The guidelines highlight the need for transparency and accountability in data transfers. Businesses must inform individuals about the transfer of their data and the reasons behind it. Additionally, they should implement measures to ensure that the data is handled responsibly and securely.

Implications for Businesses and the General Public

For businesses, adhering to the EDPB's guidelines is crucial to avoid legal repercussions and maintain customer trust. By following these guidelines, businesses can demonstrate their commitment to data protection and privacy, which can enhance their reputation and foster customer loyalty.

For the general public, these guidelines provide reassurance that their personal data is being handled with care and in compliance with stringent regulations. Understanding the principles behind data transfers can empower individuals to make informed decisions about sharing their data with businesses.

Conclusion

The EDPB's final version of guidelines on data transfers to third-country authorities is a significant step towards ensuring data protection in an increasingly globalised world. By following these guidelines, businesses can navigate the complexities of international data transfers while safeguarding individuals' privacy rights.

This article is based on the EDPB guidelines on data transfer to third countries (Article 48 of the GDPR) which can be found on this link - EDPB Guidelines

Insights from the EDPB's Latest Guidelines

Understanding the Guidelines

Key Points to Note

Implications for Businesses and the General Public

Conclusion

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Insights from the EDPB's Latest Guidelines

Understanding the Guidelines

Key Points to Note

Implications for Businesses and the General Public

Conclusion

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