Introduction

The Trust and Trustees Act (Register of Beneficial Owners)(Amendment) Regulations 2026 (the ‘Amendments’) were published on the 22nd of September 2026 by means of Legal Notice 252 of 2026, amending the Trusts and Trustees Act (Register of Beneficial Owners) Regulations (the ‘Regulations’) to transpose certain provisions of the Sixth Anti-Money Laundering Directive (AMLD6) in so far as they relate to trusts and trustees.

Updated Definitions

Minor Update to the Definition of Beneficial Owner

The Amendments implement a slight update to the definition of ‘beneficial owner’ for the purposes of the Regulations without any significant material change.

Access to Beneficial Owner Information

Rights of Access

The Amendments introduce a comprehensive overhaul of the process by which competent authorities, obliged entities, and third parties with legitimate interest may be granted access to a company's register of beneficial owners.

Registration Requirements and Fees

All parties (competent authorities, obliged entities and third parties) are required to register online in order to be able to request access to beneficial owner information held by the Authority, unless otherwise provided.

Obliged entities and third parties may also be subject to the payment of a fee for every access request.

Competent Authorities – Immediate, Unrestricted Access

The Amendments require access to the beneficial owner register to be made available to competent authorities (including AMLA, EU Member State tax authorities, the European Public Prosecutor’s Office, European Anti-Fraud Office and others) immediately, unfiltered, without any restriction and without alerting the beneficial owner concerned.

Obliged Entities – Timely Manner with Potential Refusal in Exceptional Circumstances

Obliged entities (previously ‘subject persons’) continue to benefit from a right to access information in a timely manner. The Amendments, however, reserve the right for the Authority to refuse access to the information requested in exceptional circumstances where the Authority considers that granting access to the information would expose the beneficial owner to risk, or where the beneficial owner is a minor or otherwise legally incapable.

Third Parties with Legitimate Interest with Potential Refusal in Exceptional Circumstances

Third parties with legitimate interest in the prevention of money laundering and/or the financing of terrorism can request access to information held by the Authority.

The request shall be verified by the Authority on a case-by-case basis, and the Authority may request information from the applicant, including:

  • identification details, supported by certified identification documents;
  • details on function or occupation;
  • any other information the Authority may deem necessary.
What Constitutes Legitimate Interest?

The Amendments provide that legitimate interest shall be satisfactorily demonstrated where the person requesting access is able to show that:

  • the interest relates specifically to, and contributes to, the prevention and combating of money laundering and/or terrorist financing; and
  • the request is justified on the basis of previous activities and a proven track record of actions in that field, evidenced by documentary proof.

Parties Deemed to Hold Legitimate Interest

The Amendments then set out a list of persons deemed to hold a legitimate interest in accessing beneficial ownership information, including (but not limited to):

  • journalists, civil society organisations and NGOs where their activity is connected with the prevention of money laundering or terrorist financing;
  • persons likely to enter into a transaction with a trust, intending to prevent any link between the transaction and money laundering;
  • persons subject to AML/CFT requirements that demonstrate the need to access the beneficial ownership information to perform customer due diligence;
  • providers of AML/CFT products, provided that products are only offered to customers that are obliged entities or competent authorities.

Refusals & Appeals

Where the Authority exercises its discretion to refuse access, it must inform the applicant of the refusal, provide reasons, and notify the applicant of the right to redress.

Registrar Obligations: Verifying Identity and Recording Access

The Amendments now require the Authority to:

  • verify the identity of applicants whenever they access the register; and
  • maintain records of the persons accessing the beneficial ownership information.

The Right of Beneficial Owners to Access Records of Persons Accessing Beneficial Information

The Authority must also ensure that it is capable of disclosing the relevant information to a beneficial owner who files a data subject request under the General Data Protection Regulation (GDPR). However, no information shall be disclosed to the beneficial owner where such disclosure may lead to the identification of any person accessing the register for the purposes of journalism, or of any civil society organisation. In such cases, only the occupation or function of the person consulting the register will be disclosed.

Conclusion

The Amendments significantly tighten Malta's beneficial ownership regime in line with AMLD6.

Contact Us Today

Obliged entities should review their position against the amended Regulations without delay. For assistance in assessing conformity or navigating the new access procedures, please contact us today.

For more information on how zeta. can assist you, please contact us at:

bd@zeta-financial.com

This note is provided for general information purposes only and does not constitute legal, tax, or other professional advice. It is not intended to be relied upon as a substitute for specific advice tailored to your circumstances.

While every effort has been made to ensure the accuracy of the information at the time of publication, no representation or warranty (express or implied) is given as to its completeness, accuracy, or reliability, and zeta. accepts no responsibility or liability for any loss or damage arising from reliance on this publication or its contents.

Readers should not act, or refrain from acting, on the basis of this information without obtaining appropriate professional advice.