The Registry of Companies at the Malta Financial Services Authority has today, the 6th December 2006, launched its new advanced internet service providing practitioners and members of the public with a secure and simple way to register new companies and file company documents online. The new online services were officially launched by the Hon. Parliamentary Secretary Tonio Fenech in the presence of the MFSA Chairman and MFSA staff.
The MFSA Chairman welcomed the Hon. Parliamentary Secretary, MFSA staff, members of the press and practitioners to this important event. Dr. Anton Bartolo, Company Registrar gave a short presentation on the new services being launched which include the most frequently used services by members through the online system.
The introduction of these new on-line services by the MFSA is in line with the requirements of the First Company Law Directive of the EU (68/151/EEC) on electronic submission of information and is furthermore in line with Malta’s e-government strategy. A survey also shows that over the past year, Malta has achieved the most outstanding performance recorded in this sector within the EU. In accordance with this strategy the MFSA will continue to add other on-line services in the near future.
The Hon. Parliamentary Secretary Tonio Fenech thanked the MFSA Chairman and stressed that the new online system signifies Government’s commitment towards providing our businesses, professionals and the public with administrative services of the highest calibre. From now on, registered users will be able to set up companies, file annual returns and sign and submit frequently used company forms from the comfort of their desks. The Parliamentary Secretary also made reference to the growth taking place particularly in the financial services sector, in as much as this growth is not just a reflection of other work in which the MFSA is involved, but also an excellent illustration of the contribution which the industry as a whole is making to our economy.
The practitioners were then given a brief overview of the salient points of the new services. In fact the new online system will cater for electronic filing of documents including the Memoranda and Articles of Association, Annual Returns, Form K and Form T. In addition the system will accept electronic payments for new company registration and annual returns. The system will also cater for a free company name check.
Authorised users of the online system will be able to obtain their own electronic signature and submit electronically signed documents. The MFSA will be offering further information on the new system to practitioners, online users and company officials during the coming months. This will be done through a series of practical sessions that will be held next year.
The newly added features that have been launched today are very usefuland important. In fact company directors and shareholders will be able to sign off documents themselves from their office and file these documents electronically. Practitioners will also enjoy a larger flexibility in the submission of documentation. The new on-line services are expected to increase efficiency of the online system both for its users and also for the Registry of Companies, resulting in a better service to the public in general.
