The Malta Financial Services Authority has announced that amendments to Malta’s beneficial ownership reporting framework for trusts have come into force, updating requirements under the Trusts and Trustees Act and extending reporting obligations to private trustees for the first time. The changes establish the same reporting obligations for all express trusts administered by trustees established or resident in Malta, including non-professional trustees known as private trustees. Beneficial ownership declarations must be filed via the TUBOR Online Portal, with trustees required to keep information up to date, report changes within 14 days, and submit annual declarations. Non-compliance may lead to MFSA enforcement action, including potential penalties. The TUBOR register has been operational since 1 January 2018. Private trustees have until 11 January 2026 to comply with the new legal requirements. Further amendments are anticipated in the coming months to implement additional provisions under the European Union’s Anti-Money Laundering Directive 6 and Regulation (EU) 2024/1624, and the MFSA has published a circular, explanatory videos and FAQs to support implementation.
Malta Financial Services Authority 2025-09-25
Malta Financial Services Authority updates trust beneficial ownership reporting and extends TUBOR obligations to private trustees with 11 January 2026 deadline
The Malta Financial Services Authority has amended Malta’s beneficial ownership reporting framework for trusts, extending obligations to private trustees under the Trusts and Trustees Act. Trustees must file beneficial ownership declarations via the TUBOR Online Portal, maintain updated information, and report changes within 14 days. Non-compliance may result in enforcement actions, and further amendments are expected to align with the EU’s Anti-Money Laundering Directive 6.