Monthly Archives: January 2018

Companies Act – Register of Beneficial Owners

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  On the 1st January 2018, new regulations came into force, applicable to companies except where:   They are listed on a regulated market and disclosure is already required under the appropriate regulations; or Companies where shareholders are all natural persons disclosed to the companies registrar.   The First Schedule sets out a form which is to be delivered together with the M&As whenever a new company is being set up. Declarations must be submitted for each beneficial owner and … Continued

Disclosure of Information on Beneficial Ownership – Trusts and Trustees

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On the 1st January 2018, new regulations came into force concerning the operation of a Central Register of UBOs for trusts and trustees and for companies, for associations and for foundations.   Regarding trusts and trustees, the rules only apply to express trusts generating tax consequences.  Within 14 days from being appointed as a trustee of an express trust, authorused trustees must submit a declaration of ownership to MFSA where such trust has tax consequences.  The regulations list the information … Continued