Malta Medical Cannabinoids Advice

As of March 2018, Malta legalised the production of cannabis for medicinal and research purposes through the Production of Cannabisfor Medicinal and Research Purposes Act.

The Maltese government sees the production of Medical Cannabis as a progression within its life sciences sector, which already includes the production of pharmaceuticals, active ingredients, medical devices, testing and batch release operations, research and clinical work, dossier building and so much more.

Since the enactment of the law, Malta Enterprise has received 50 project applications and 24 of them have been granted a Letter of Intent outlining an in principle approval of the project.

Medical Cannabis is seen as an opportunity for Malta to attract investment and boost its economy through job creation and taxation. Once operational, these projects are expected to create over 700 new full-time jobs and supplement Malta’s exports by over €900M by 2022, mainly to European Union markets.

Malta has been successful in executing its mandate through two key government entities working together. The Malta Enterprise is the agency focused on attracting foreign investment and providing potential partners with any necessary guidance and support. On the other hand, the Malta Medicine Authority assists companies applying for the pharmaceutical standard of Good Manufacturing Practices (GMP) to cannabis-based treatments.

All Medical Cannabis products must meet the stringent European GMP certification standard, which represent the highest levels of standards and traceability. Furthermore, Malta’s regulator for the Medical Cannabis sector is the Medicines Authority which is recognised by both EMA and FDA. Both these factors should enhance Malta’s appeal as a jurisdiction to invest in.

 

Malta Gaming Authority (MGA)

It is quite natural for you to face challenging situations while starting any business. These might consist of hiring workers, management of cash flow, management of time, formulating marketing strategies, getting rid of self-doubts, and so forth. In such situations, you will be in need of legal services for providing you with legal advice. Moreover, the presence of a legal advisor will prevent you from performing any illegal work which might be detrimental to your company. 

Here, we have stated some circumstances when your business will require legal services in 2021.

1. Expanding your business

In case your company is running well and you want to expand it, some assistance will be needed by you when it comes to legal matters. You might be searching for innovative items and services for satisfying your clients while expanding the business. It is also possible that you might skip any legal formality while doing so as well. Even though business expansion might appear to be a simple task, it is not that in reality. Competent legal support service is going to provide guidance to you while expanding your company so that you are able to concentrate on other essential aspects of your business. 

2. Solving issues

A professional legal service company is going to provide support to you every time you need them. Besides fixing your issues, they will likewise help you to control them so that they don’t creep up once again in the future. Even though recruiting your employees and sacking them might seem to be a simple task, it is not the actual fact. Although you might be able to save lots of cash by rehiring, you must know the rules and regulations beforehand. A legal service company will assist you to perform these chores in an effortless manner.

3. Safeguarding your company

Although you need to be very careful while operating a business, it might be essential for you to take some risks from time to time. None likes their companies to encounter legal issues which can impede the smooth functioning of the company. Legal issues are quite tough to stay away from and they might be quite costly as well as bothersome if not taken care of properly. A legal service will help you to get the job done easily.

In case you are a resident of Malta and would like to regulate gambling activities in that location, then Malta Gaming Authority will come of use to you. In fact, Malta Gaming Authority (MGA) happens to be Malta’s gaming control board which regulates all types of gambling in Malta such as casino and slot machines, lotteries, betting offices, and fantasy sports. 

EMD happens to be a multi-disciplinary company in Malta which provides legal, corporate, advisory, and tax services. The legal arm of the firm known as EMD Advocates offers a formidable global legal practice while focusing on several niche areas such as iGaming, tax laws, financial services, intellectual property, yacht and ship registration, employment law, construction law, etc. Apart from this, the company also offers services in the field of recruitment and human resources, ICT, and so on.