Key updates to malta’s beneficial ownership framework introduced in 2026

Strengthening malta’s anti-money laundering framework

The new regulations form part of Malta’s continued alignment with the European Union’s anti-money laundering regime and represent the second phase of the transposition of the Sixth Anti-Money Laundering Directive (Directive (EU) 2024/1640). The changes are intended to reinforce transparency, improve access to beneficial ownership information, and support efforts to prevent money laundering, related criminal activities, and the financing of terrorism.

New access structure for the register of beneficial owners

One of the most significant developments concerns amendments to Regulation 7, which now establishes three separate levels of access to the Register of Beneficial Owners (RBO).

Among these, a new access route based on legitimate interest has been introduced. Certain individuals or entities that can demonstrate a genuine interest connected to the prevention and detection of money laundering, predicate offences, or terrorist financing may request access to beneficial ownership information held by the Registrar.

Applicants seeking access under this category must submit:

• A written request;
• Appropriate identification details;
• Any supporting qualifications, credentials, or relevant information;
• A declaration outlining the legal grounds for the request and confirming that the intended purpose relates to anti-money laundering or counter-terrorist financing objectives.

The Registrar may also request additional documentation where deemed necessary and may publish guidelines to further clarify the application process. If a request for access to the Register of Beneficial Owners is refused, the Registrar will notify the applicant in writing. The applicant may appeal the decision before the Administrative Review Tribunal within 20 days of notification, and any subsequent decision of the Tribunal may be further appealed to the Court of Appeal (Inferior Jurisdiction) within 20 days. Requests for access to the Register of Beneficial Owners should be submitted by email to accesstobo@mbr.mt.

Increased due diligence obligations for companies

The amendments also place greater responsibility on companies and commercial partnerships to actively determine whether any individual ultimately exercises indirect control over the entity.

To support this enhanced obligation, a new Form BO4 (Declaration on Beneficial Owners) has been introduced. This form is intended for entities whose registered shareholders are all natural persons but whose circumstances require further assessment of beneficial ownership arrangements.

Recognising the practical implications of these new requirements, the regulations provide a six-month transitional period during which affected entities are expected to:

• Review their ownership and control structures;
• Assess whether the new requirements apply to them;
• Submit Form BO4 to the Registrar where required.

When beneficial ownership declarations may not be required

The amendments also clarify circumstances in which a company's register of members may itself be treated as the beneficial owners register, thereby removing the need for separate beneficial ownership declarations.

This simplified approach applies only where all of the following conditions are met:

• Every registered shareholder is a natural person;
• None of the shareholders acts as a trustee or in another fiduciary capacity;
• No person other than those already disclosed in the register of members ultimately owns or controls more than 25% of the voting rights or ownership interests, whether directly or indirectly;
• No individual exercises control through other means;
• No natural person holds the position of senior managing official.

Where these criteria are satisfied, the company may rely on its register of members as the definitive source of beneficial ownership information.

Updates to beneficial ownership forms

The legislative revisions also introduce changes to the statutory forms used for beneficial ownership reporting. Going forward, the following additional information must be included for each beneficial owner:

• Place of birth;
• Residential address.

These enhancements are intended to improve the quality and completeness of information maintained by the Registrar.

How businesses should prepare

Companies should review their ownership and control structures to determine whether the new requirements apply to them, particularly where indirect ownership or control arrangements may exist. Businesses should also assess whether the new Form BO4 declaration is required during the transitional period.

Given the enhanced due diligence obligations, early review of beneficial ownership arrangements can help ensure compliance and avoid potential regulatory issues. Our Corporate Services team can assist businesses in reviewing and assessing their corporate structures to determine whether separate beneficial ownership disclosures are required. We also provide comprehensive support throughout the compliance process, including the preparation and submission of any necessary filings with the Malta Business Registry, helping ensure that all regulatory obligations are met accurately and efficiently.