The Malta Business Registry (MBR) has announced the entry into force of the Companies Act (Register of Beneficial Owners) (Amendment) Regulations, 2026 through Legal Notice 184 of 2026, effective from 10 July 2026. The changes represent Malta’s second phase of transposition of certain provisions of the EU’s Sixth Anti-Money Laundering Directive and introduce several important amendments to the country’s beneficial ownership framework.
New access regime for beneficial ownership information
One of the most notable changes is the introduction of a three-tier access regime to the Register of Beneficial Owners. Under the revised rules, certain individuals and entities may obtain access to beneficial ownership information where they can demonstrate a legitimate interest connected to the prevention and detection of money laundering, predicate offences, or terrorist financing.
Applicants seeking access must submit a written request to the Registrar, providing identification details, supporting credentials where relevant, and a declaration explaining the legal basis and purpose of the request. The Registrar may request additional documentation before determining whether access should be granted. Decisions refusing access may be appealed before the Administrative Review Tribunal and subsequently to the Court of Appeal (Inferior Jurisdiction).
Enhanced verification obligations for companies
The amendments also introduce an explicit obligation for companies and commercial partnerships to take reasonable and proactive measures to determine whether any natural person exercises indirect control over the entity. This reinforces the requirement to identify the true beneficial owners behind corporate structures rather than relying solely on direct shareholding information.
To support this enhanced verification process, the legislation introduces a new BO4 Declaration on Beneficial Owners form. Affected companies have been granted a six-month transitional period to assess their ownership arrangements and submit the new declaration where required.
Simplified position for straightforward ownership structures
The amendments preserve a streamlined compliance framework for companies with simple ownership structures. Where all registered shareholders are natural persons, no shareholder acts as a trustee or fiduciary, no undisclosed individual ultimately controls more than 25% of the ownership or voting rights, and no senior managing official qualifies as a beneficial owner, the company’s register of members will be deemed to constitute its beneficial owners register. In such cases, separate beneficial ownership declarations remain unnecessary.
Why this matters
These amendments continue Malta’s efforts to strengthen transparency around corporate ownership and align its regulatory framework with evolving European AML requirements. Companies should review their ownership structures, assess whether indirect control arrangements exist, and ensure that future beneficial ownership notifications are submitted using the updated forms and procedures.