Malta has introduced an innovative legal framework through the Companies Act (Youth Enterprise) Regulations, 2026, creating a new form of private limited liability company specifically designed for 16 and 17-year-old entrepreneurs. The new regulat
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For many observers, Islamic finance is most readily associated with Shariah-compliant investment funds or sukuk issuance. Yet these instruments represent only part of a broader financial philosophy that seeks to align economic activity with princi
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Introduction In today’s global financial landscape, trusts serve as essential tools for wealth management, estate planning, and asset protection. However, ensuring the integrity and compliance of a trust, particularly when it holds shares in a M
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We are delighted to announce that Zerafa Advocates and our founder, Omar Zerafa, have been ranked in the prestigious Chambers & Partners list, recognising our firm’s excellence in the legal industry. This ranking reflects our dedication to p
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In analysing the duties of the trustee, it is fundamental to refer to article 21 of the Trusts and Trustees Act (Chapter 331 of the Laws of Malta) (the “TTA”) which lays down the fundamental duties of the trustee. Article 21(1) of the TTA refl
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There is no trust without a trustee. However, there is another essential party to the trust, without which the trust would be invalid: the beneficiary. The purpose behind creating a trust is to provide certain benefits to the beneficiary, that is,
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As per Article 2 of the Trusts and Trustees Act, Chapter 331 of the Laws of Malta (the “TTA”), the property held within a trust can be either a movable or an immovable, such as real estate property. Departing from the standard form of a trust
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On the 26th October 2021, the Companies (Amendment) Act (the “Amendment Act”) was enacted in order to amend the Companies Act (Cap. 386 of the Laws of Malta) (the “Act”). From an overview of the amendments undertaken, it seems that the goa
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Company Service Providers (CSPs) in Malta are essential to the financial system as they serve as the first point of contact for individuals establishing businesses. Due to this, CSPs face heightened risks of being exploited for money laundering an
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One of the more recent developments in the world of alternative investment is the Notified Alternative Investment Funds (“NAIF”). NAIFS are a type of collective investment scheme exempt from licencing, provided they are included in the Malta F
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On the 14th June 2022, the European Banking Authority (“EBA”) published its Guidelines (the “Guidelines”) specifying the roles and responsibilities of the Anti-Money Laundering and Countering the Financing of Terrorism (“AML/CFT”) comp
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On the 11th March 2022, the Malta Financial Services Authority (“MFSA”) issued two separate circulars informing authorised Company Service Providers (“CSPs”) and Trustees and other fiduciaries about the Annual Compliance Return (“ACR”)
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The main difference between a variation and a revocation of a trust is that, whilst variation allows the power to revoke certain terms under a trust and introduce new ones, revocation allows the power to terminate the rights under a trust indefini
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There is no trust without a trustee. However, there is another essential party to the trust, without which the trust would be invalid: the beneficiary. The purpose behind creating a trust is to provide certain benefits to the beneficiary, that is,
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In analysing the duties of the trustee, it is fundamental to refer to article 21 of the Trusts and Trustees Act (Chapter 331 of the Laws of Malta) (the “TTA”) which lays down the fundamental duties of the trustee. Article 21(1) of the TTA refl
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As underlined in the Civil Code, Chapter 16 of the Laws of Malta, fiduciary obligations arise by virtue of law, contract, quasi-contract, unilateral declarations including wills, trusts, assumption of office or behaviour whenever a person (the “
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Although the English law concept of trust was already present in Malta since the late 1980s through the concept of ‘offshore trusts’, the first written legislation regulating domestic Maltese trusts came into force in 2004 through the enactmen
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By means of a notice issued by the Malta Financial Services Authority (the “MFSA”) on the 15th July 2020, the MFSA reminded all licence holders of their obligations in relation to record keeping. In order to ensure consumer protection, complia
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The Malta Financial Services Authority (“MFSA”) has recently published a Notice drawing the attention of trustees duly authorised or registered in terms of Article 43 or Article 43B of the Trusts and Trustees Act with regards to the amendments
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By means of L.N 158 of 2019 new amendments to the Register of Beneficial Owners Regulations (the "Regulations") under the Companies Act (Cap. 386) were enacted on the 12th of July 2019 in order to reflect the changes brought about by Dir
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On the 20th of December 2017 ‘The Trusts and Trustees Act (Register of Beneficial Owners) Regulations, 2017’ (the “Regulations”) were published. These Regulations are aimed at implementing the requirement of having the information on benef
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On the 7th of October 2016, the Trusts and Trustees (Protected Disability Trusts) Regulations (the “Regulations”) came into force by virtue of Legal Notice 324 of 2016. The aim of the Regulations is to provide for the establishment and adminis
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