A bill on beneficial ownership in Malta has been prepared

A bill on beneficial ownership in Malta has been prepared

In one of the statements, Edward Scicluna, current Minister of Finance of Malta  reported on the elaboration of a bill on beneficial ownership.

Since the official entry into force of the bill, all organizations registered in Malta will document and provide the data on their beneficial owners to controlling authorities.

The information received will be entered in the developed Register of Beneficial Owners of operating companies.

In the future, all authorized bodies will have access to it. The possibility of obtaining universal free access to the data of the Register is now under consideration.

The bill is in the final stages of elaboration within the framework of the current EU Directive on combating money-laundering.