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Malta To Establish Beneficial Ownership Register

by Jason Gorringe, Tax-News.com, London

27 October 2017


Malta's Minister for Finance, Edward Scicluna, told delegates to a recent law conference at the Old University in Valletta that beneficial ownership regulations will be published in the coming weeks.

The regulations will require every company registered in Malta to hold information on its beneficial owners, and to submit this information to the Registrar of Companies.

The regulations will also provide for the establishment of a beneficial ownership register of companies, which will be directly accessible without any restriction to competent authorities, to obliged persons, and possibly to the general public, depending on the outcome of current negotiations on proposed amendments to the European Union's 4th Anti-Money Laundering Directive.

Scicluna said the proposed register would further reinforce transparency and was necessary to fully comply with international standards and the 4th Anti-Money Laundering Directive.

TAGS: Finance | tax | Malta | tax avoidance | law | standards | regulation | Europe | Regulations | Tax | Tax Evasion

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