Malta Business Registry Notice to the public – Provision requiring public access to BO information declared invalid by the Court of Justice of the European Union

On the 25th of November 2022, the Malta Business Registry informed the general public that the Court of Justice of the European Union ruled that the provisions in Directive (EU) 2015/849 which granted public access to Registers of Beneficial Owners to legal entities are invalid. This ruling was delivered on the 22nd of November 2022.

In the notice published by the Malta Business Registry, the Authority explains that it will limit access to the Beneficial Owners register ONLY to competent authorities and subject persons. Access to the Beneficial Owners register is contingent on registration with the Malta Business Registry through the Authority’s portal. The request will be reviewed by the Registrar and will grant access accordingly.

Furthermore, the notice states that in the same delivery the Court of Justice of Justice of the European Union stated that ‘’Article 1(15)(c) of Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU, is invalid in so far as it amended point (c) of the first subparagraph of Article 30(5) of Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) No 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EC, in such a way that point (c) of the first subparagraph of Article 30(5), as thus amended, provides that Member States must ensure that information on the beneficial ownership of companies and of other legal entities incorporated within their territory is accessible in all cases to any member of the general public.’’

You may refer to the Malta Business Registry’s notice by clicking on here.