Malta Register Of Beneficial Ownership Of Companies

The Maltese Register of Beneficial Ownership of Companies (the “Register”) is regulated both by the Companies Act (Chapter 386 of the Laws of Malta) and the Beneficial Ownership Regulations, Subsidiary Legislation 386.19 (the “Regulations”). 

The Register ensures transparency of ownership and control by identifying and recording the natural persons who ultimately own or control companies incorporated in Malta. In line with these obligations, companies are required not only to obtain and maintain accurate beneficial ownership information internally, but also to submit this information to the Malta Business Registry (MBR) through the statutory forms prescribed under the Regulations.

Who is considered a beneficial owner?

The term beneficial owner when considering a body corporate shall consist of any natural person who ultimately owns or controls a company through:

i. direct or indirect ownership of 25% plus one share or more;

ii. more than 25% of the voting rights;

iii. an ownership interest of more than 25%, including through bearer shareholdings; or

iv. control via other means;

other than where the entity is listed on a regulated market subject to EU equivalent disclosure requirements.

Should no beneficial owner be identified after all reasonable efforts and in the absence of any suspicion, the company must instead record the natural person(s) acting as senior managing official(s), as the beneficial owner and document the steps taken to reach that conclusion.

Which companies do the Regulations apply to?

Following the 2025 amendments, the Regulations apply to:

• Companies incorporated under the Companies Act (Cap. 386).
• Companies re domiciled to Malta.
• Private limited liability companies formed and registered under the Merchant Shipping Regulations.
• Companies created or continued in Malta through cross border mergers, conversions, or divisions. 
• Commercial partnerships that qualify as companies under Maltese law.

The Regulations do not apply to trusts, foundations, or associations, which follow their own beneficial ownership regulations.

Information to be collected

Every company must obtain and at all times keep the below information pertaining to the beneficial owners:

• the name;
• date of birth;
• nationalities;
• country of residence;
• identification document number; and
• the nature and extent of beneficial interest.

Deadlines

Any changes to the beneficial ownership information must be notified to the MBR within fourteen (14) days of the change, default of which the company and its officers may become liable to penalties under the Regulations.

In addition, every company must file an annual return on each anniversary of its registration, confirming that the beneficial ownership details remain unchanged, or otherwise declaring any updates.

Penalties consist of a fixed administrative fine followed by additional daily fines that accrue for each day the company remains in default.

Access to the Register

Access is not open to the general public. Instead, access is strictly limited to legal or natural persons that can demonstrate a legitimate interest. This legitimate interest must be directly tied to a genuinely intention to the prevention or detection of money laundering, predicate offences, or terrorist financing. This mechanism implements the standard introduced by Directive (EU) 2024/1640, ensuring that beneficial ownership transparency serves its intended AML/CFT purpose without exposing personal data unnecessarily.

It is also important to note that the company whose beneficial ownership information is being requested is not notified at any stage of the process.

Should the Registrar refuse the request, the applicant must be informed in writing. The applicant may then file a sworn application for judicial review of the decision before Court within twenty (20) working days. Should the applicant wish to contest the outcome of that judicial review, a further appeal may be lodged, also by sworn application and within twenty (20) working days, to the Court of Appeal in its inferior jurisdiction.

Best Practices for Compliance

To ensure full compliance with the Regulations companies should:

• Maintain continuous communication with shareholders to promptly identify any changes in beneficial ownership and ensuring that updated BO information is submitted to the MBR within the established deadline; 
• Calendarise their annual BO confirmation requirement;
• Submit all filings using the latest statutory BO forms, as updated in 2025, to avoid rejection or administrative delays. 
• Keep certified identification documents for all beneficial owners on file, as and review their internal registers regularly to ensure accuracy and completeness.

How can we help?

BDO provides targeted compliance support to ensure companies meet their obligations under the Beneficial Ownership Regulations. Our Legal and Corporate teams assist:

• In correctly identifying beneficial owners under the statutory thresholds; 
• in maintaining accurate internal BO registers;
• with timely submission of 14 day change notifications and annual confirmations;
• with reviewing governance and documentation practices;
• by ensuring filings adhere to the latest statutory requirements;
• by reducing the risk of administrative penalties; and
• by maintaining alignment with evolving AML and transparency.

For any further information, please get in touch with our legal team. 

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.