MFSA Updates CSP Rules

The MFSA, being the licensing authority and regulator for the business of corporate services providers has announced the coming into force of the new regulations governing CSP’s.

In an ever-changing market, there has been the need to update how the services are provided and these rules provide further requirements to be met by those who wish to provide such services. The term ‘company service providers’ (also known as ‘corporate service providers’) refers to anyone engaged in the provision of directorships, company secretarial services, registered office or incorporations of companies in Malta.

The amendments to the Company Service Providers Act, as amended by Act L of 2020 CSP Act , come into force today, the16th March 2021 giving effect to the legal reform of Company Service Providers CSPs to remove the previous exemptions applicable to warranted professionals and de minimis operators and introducing the categorisation of CSPs into classes by reference to the services offered.

Asteria is already registered as a CSP and will therefore not need to submit an application. Such registration will automatically be converted to an authorisation under the CSP Act and we will strive to continue to satisfy the requirements for a seamless operation.

Guidance is provided on the MFSA Website, which is set to be regularly updated with further guidance as the need may arise.
The CSP Rulebook has also been updated.

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