01
Document overview
Creates a specific framework against business activity conducted in substance by another person behind the formally registered owner or licensee.
02
Scope and exclusions
Applies to
Relevant to investors, founders, nominee participants, directors and licensees when allocating effective control, profits and access to a business.
Limitations and exclusions
This record does not classify a particular agency, franchise, management or nominee arrangement; legality depends on the facts and all applicable licences.
04
Official source
Ministerial Decision 412/2023 · issued 26 July 2023 · published 30 July 2023 · Ministry of Commerce, Industry and Investment Promotion / MJLA
September 13, 2026
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