Malta's Beneficial Ownership Rules Amended

On 10 July 2026, Malta implemented Legal Notice 184, amending the Companies Act (Register of Beneficial Owners) Regulations. The changes extend the reporting framework to companies previously exempt, introduce Form BOà, and require additional information on beneficial owners. Companies wholly owned by individuals must reassess their status to determine if they qualify for the 'Simplified Approach' or need to comply with full reporting obligations. Those not qualifying must file Form BOà by 10 January 2027. Non-compliance may result in penalties up to €10,000 and daily fines of €500. Additional required information includes place of birth, residential address, and details of nominee shareholders.

Legal Implications

These amendments aim to enhance transparency and align Malta's regulations with EU directives on anti-money laundering. Companies must promptly assess their obligations to ensure compliance and avoid substantial penalties.

Impact on Businesses

Businesses operating in Malta need to review their ownership structures and reporting practices. The introduction of Form BOà and the requirement for additional information may necessitate updates to internal compliance procedures and systems.