By virtue of LN 127 of 2025, changes recently took place in Malta's Companies Act (Register of Beneficial Owners) Regulations.
The main aim of the Malta Beneficial Ownership Regulation changes reflect the first transposition phase of the Sixth Anti-Money Laundering Directive, specifically Article 74 of Directive (EU) 2024/1640 of the European Parliament and of the Council of 31 May 2024 on the mechanisms to be put in place by Member States for the prevention of the use of the financial system for the purposes of money laundering or terrorist financing.
Key Changes You Should Know:
- Broader access to beneficial ownership (BO) data – Individuals or entities with a legitimate interest, such as professionals working to prevent money laundering or terrorism financing, may now access BO records (without alerting the company involved), provided they submit a written request with supporting identification, credentials, and a legal justification.
- Immediate use of updated statutory forms – The Malta Business Registry (MBR) has released revised BO reporting forms, and only these new versions are valid for use; older forms are no longer accepted.
- Obligation to disclose multiple nationalities – Beneficial owners must now record all nationalities they hold when completing the upcoming Annual BO Confirmation. Where a client has dual citizenship (or more), this must be declared with failure to do so affecting compliance.
What This Means for You:
If you are a beneficial owner of a Malta company or if you manage a company with a beneficial owner that holds dual or multiple nationalities, you will need to update the BO information and ensure your filings meet the new regulatory requirements.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
