VALLETTA (MALTA) (ITALPRESS/MNA) – Maltese Prime Minister Robert Abela has announced a reform that will allow young people between the ages of 16 and 18 to run businesses and manage bank accounts without their parents’ court approval. Abela explained that the measure will facilitate young people’s participation.
in the research and innovation market, without providing further details. Under current Maltese law, 16- and 17-year-olds remain under their parents’ authority for business matters. To legally trade, minors must go through a complex civil court process to sign binding contracts.
Banks often deny young people business accounts, citing their limited liability for debts. The reform aims to remove these obstacles and give young people greater autonomy in entrepreneurship.
Experts argue that the change could stimulate youth innovation, especially in Malta’s technology and research sectors.
-Photo Labour Party-
(ITALPRESS).
