Malta Business Registry enforces new beneficial ownership rules under 6th AML Directive

The Malta Business Registry has confirmed that new beneficial ownership rules are now in force. The Companies Act (Register of Beneficial Owners) (Amendment) Regulations, 2026 took effect on 10 July 2026 through Legal Notice 184 of 2026.

The amendments represent Malta’s second transposition phase of the Sixth Anti-Money Laundering Directive. They implement Articles 11, 12, 13 and 15 of the EU directive on preventing the use of the financial system for money laundering or terrorist financing.

A key change is the introduction of three distinct access tiers to the Register of Beneficial Owners. One tier establishes a harmonised “legitimate interest” access through presumed legitimate interest categories. Individuals who demonstrate a legitimate interest in combating money laundering, predicate offences or terrorist financing can request access to beneficial ownership records.

Applicants must submit a written request with identification details, qualifications and a declaration of the legal basis for their enquiry. The Registrar can demand any necessary documents and may publish guidelines for such requests. A decision to refuse access must be communicated in writing, with the applicant able to appeal to the Administrative Review Tribunal within 20 days. Further appeal lies with the Court of Appeal (Inferior Jurisdiction) within another 20 days.

The amendments also introduce a new home-grown compliance requirement. Companies and other commercial partnerships must now take reasonable, proactive steps to verify whether any natural person exercises indirect control over them.

A new BO4 form has been created for companies and commercial partnerships whose registered shareholders are all natural persons but do not meet specific cumulative criteria. Those criteria are: all shareholders are natural persons; none acts as trustee or in a fiduciary capacity; no person other than a registered shareholder ultimately owns or controls more than 25% of voting rights or ownership interests, or otherwise exercises control; and no senior managing official is in place. Where these conditions are met, the company’s register of members is deemed its beneficial owners register, and BO declarations are not required.

Affected companies have a six-month transitional window to assess their setup, ensure conformity and submit the new BO4 form to the Registrar.

The statutory forms for beneficial ownership reporting have been updated to include “place of birth” and “residential address” of the beneficial owner. The new forms are effective immediately, and older versions are no longer valid. Companies must use the updated forms from now on.

The MBR has published user guidelines to assist with the new requirements. Companies should review their beneficial ownership structures and ensure compliance within the transitional period.