Youths between the ages of 18 and 30 who are entering the business world for the first time will be able to benefit from financial aid for fees related to setting up and maintaining the company, as well as a refund of legal costs related to its incorporation. This was announced by the Minister for the Economy, Technology and Strategic Projects, Silvio Schembri, who explained that the initiative, implemented by the Malta Business Registry (MBR) and Malta Enterprise, is a manifesto measure. Through this initiative, the Government is continuing to strengthen entrepreneurship among youth and reduce obstacles that may prevent them from pursuing their ideas and business projects. “There is strong enthusiasm among youths that, as a government, we are committed to providing the necessary tools to build a strong ecosystem. We started with Enterprise 16, and we are continuing with this financial assistance initiative. Beyond this, at the centre of everything is education and therefore these youths will be attending lessons to understand the responsibility involved and what it entails to run and operate a business,” said Minister Schembri. The assistance mechanism will be based on a refund system jointly administered by the MBR and Malta Enterprise. The company pays the fees due to the MBR and can then apply to Malta Enterprise for a refund within six months of filing the incorporation or annual return. The necessary adjustments have been made by the MBR so that companies of this type are classified as Start-Up Youths. This makes it easier for a start-up company to apply for a refund from Malta Enterprise within the first 6 months, which will cover the costs of incorporation fees and annual income for 5 years. In addition, financial assistance will be provided to cover the costs of legal assistance, and those associated with the establishment and incorporation of the company. This will be provided in the first year of the establishment of the company and will be accompanied by a refund of the incorporation fee. Through this initiative, the MBR and Malta Enterprise are continuing to strengthen the ecosystem of support for young entrepreneurs, while reducing start-up costs and providing concrete tools to those taking their first steps in the business world. “Our vision is clear – we want Malta to continue to be the ideal destination for startups and entrepreneurs. By continuously refining our support structures and attracting international businesses, we want to continue to pave the way for long-term economic growth,” said Minister Schembri. Meanwhile, during a discussion with the participation of young people, the Chief Executives of the Malta Business Registry and Malta Enterprise, Dr Geraldine Spiteri Lucas and George Gregory, respectively, affirmed their entities' support for youths who wish to venture into the world of business. Photos (METP) Comments: Minister Silvio Schembri; CEO MBR Geraldine Spiteri Lucas; CEO Malta Enterprise George Gregory; Founder of Midow Studios Ryan Camilleri

Kindly note that, in view of the statutory requirements, the Malta Business Registry (MBR) will be required to issue the three-month notices on its portal or in the daily newspaper by the end of September in order to ensure that transactions may be duly finalised by the end of December. To ensure efficient processing and to avoid any disappointment, any documents necessitating publication by the end of September are to be submitted through BAROS or delivered to the MBR by no later than 11th September.

A new cohort of insolvency professionals has successfully completed the accredited Insolvency Course organised by the Malta Business Registry (MBR), marking an important milestone in strengthening the profession and enhancing expertise in the field. Following the successful completion of the programme, 13 professionals have graduated and are now eligible to be added to the Register of Insolvency Practitioners, expanding the pool of qualified specialists available to support individuals, businesses, and the wider financial and legal sectors. The Minister for the Economy, Technology and Strategic Projects, Silvio Schembri, explained how the Government's goal has never been just to see the number of businesses in Malta increase, but to build a strong ecosystem that accompanies businesses at every stage of their journey. "Strengthening the insolvency profession is another step towards continuing to give enterprises the tools and support needed to overcome their challenges and continue to create wealth for the country. Our work does not stop with the creation of new businesses. We must ensure that every business has the tools, professionals and support needed to recover, adapt and continue to grow. This is the economic model we are building for our country, one based on quality and competitiveness," said Minister Silvio Schembri. The MBR's Chief Executive Officer and Registrar, Dr Geraldine Spiteri Lucas, remarked that the addition of 13 newly qualified Insolvency Practitioners will continue to strengthen the support available to businesses seeking professional restructuring assistance, with the possibility of preventing insolvency altogether. With this latest cohort, the number of registered Insolvency Practitioners in Malta has now increased to 26. "The role of these professionals is to guide businesses through the steps required to restore financial stability and to get back on their feet. The course covered procedures relating to liquidity, sanctions under Malta's regulatory framework, the Insolvency Practitioners Act, directors' obligations, and preventive restructuring procedures. Moreover, this is a constantly evolving field that requires continuous research, and our collaboration with the University of Malta continues to bear fruit," said Dr Spiteri Lucas. She remarked also that the insolvency overhaul implemented over recent years has been driven by a clear principle: that everyone deserves a second chance. “By strengthening Malta's insolvency and restructuring framework, we have fostered a culture that encourages individuals and businesses to take the necessary leap forward, knowing that there is a robust business ecosystem, supported by qualified professionals and effective legal tools, to help them recover, restructure and rebuild whenever possible," added Dr Spiteri Lucas. One of the key pillars of this approach is the promotion of early warning mechanisms. Since the launch of the Self-Assessment Tool in late 2024, 81 users have completed the assessment, with 51 recording an insolvency risk exceeding 50 per cent. These figures demonstrate the value of the tool as an early indicator, encouraging timely action before financial difficulties become irreversible. Dr Ingrid Hamilton, Official Receiver and Head of the Insolvency and Receivership Service, remarked that the work of the Official Receiver continues to reflect this commitment to improving the efficiency of insolvency administration. "During 2025, the Office successfully concluded 11 court- ordered winding-up cases. In 2026, we have already concluded a further 16 cases, many of which had been ongoing for several years. The work continues, with 24 new cases assigned last year and a further 13 companies already assigned this year. These results demonstrate our determination to reduce the long-standing backlog of cases, ensure insolvency proceedings are concluded more efficiently, and provide greater certainty for all stakeholders," said Dr Hamilton. Additionally, these new insolvency practitioners were referred to the recently published Code of Ethics and Professional Conduct for Insolvency Practitioners by the MBR. The latter delves into the requirements of professional conduct for insolvency practitioners, with the purpose of safeguarding the standing of their profession, continuously updating it and to create a uniform set of rules of conduct, setting out their duties and obligations to meet the ethical standards expected of them. At the same time, this Code aims to ensure the quality and transparency of the services provided by insolvency practitioners, to guarantee proper performance of the work undertaken by them and moreover to best serve the interests of the creditors and the debtor client.

The provisions implementing Directive (EU) 2021/2101 on the public disclosure of income tax information by certain undertakings and branches have come into effect in Malta through Act XVIII of 2024, which introduced Articles 213B, 213C, 213D and amendments to the Fourth Schedule to the Companies Act (Cap. 386 of the Laws of Malta). The requirements apply to accounting periods commencing from 22 June 2024 onwards. In-scope entities are required to prepare and publish a Public Country-by-Country Report ("Public CbCR Report") within 12 months of the balance sheet date of the relevant financial year. Accordingly, entities falling within scope for financial years ending during 2025 will be required to submit their first Public CbCR Report in 2026. A Public CbCR Report must be filed electronically with the Malta Business Registry via email at cbcr.mbr@mbr.mt and submitted in XHTML format with Inline XBRL (iXBRL) tagging, in accordance with applicable EU requirements. The reporting entities remain responsible for ensuring the completeness and accuracy of the information reported, compliance with legal obligations, correct XHTML/iXBRL tagging, and timely submission of reports. For more information kindly refer to this Guidance Document.

The Minister for the Economy, Enterprise and Strategic Projects, Silvio Schembri, launched the Malta Business Wallet, a project designed to reduce bureaucracy and enhance efficiency, thus continuing to facilitate operations and strengthen the concept of ‘ease of doing business’. “Once again, we worked together — Government and public entities alongside social partners and the private sector — and together we have delivered practical solutions. One of the main challenges consistently raised by businesses was the reality of duplicated processes that hinder efficiency. I have never believed in unnecessary bureaucracy, and through the Malta Business Wallet we will continue reducing it. This initiative, which originated as an electoral pledge, is today becoming a reality through the work of the Malta Business Registry and is expected to further strengthen Malta’s competitiveness as an attractive investment destination. This is not an isolated project, but one that has been developed in a way that allows integration with other local and European initiatives,” stated Silvio Schembri. He added: “At the last European Union Council I attended, discussions regarding the Business Wallet at a European level have just begun. As a country, we should be very proud that while others are still discussing this concept, we are already implementing it today. This puts us in a much better and more advanced position compared to other European Union countries.” Minister Schembri also noted that the level of trust in and demand for the project is already evident, with more than 40 businesses and business owners participating in this initial phase, a number expected to continue growing gradually. The process began in 2023 through the establishment of a steering committee within the Ministry for the Economy, for better coordination and synergy between government entities. This was followed by market analysis and the awarding of the tender, paving the way for the development and implementation of the project. While the initial concept was the Central Data Repository, the Government continued to build upon this work, leading to today’s official launch of the Malta Business Wallet. The Malta Business Wallet will introduce: The “once only” principle in relation to due diligence A more standardised system Reduced unnecessary delays Increased efficiency “The Malta Business Wallet will represent an important transformation for our country’s business ecosystem. The involvement of various entities at this important stage will continue strengthening trust between the public sector and the business community. As the Malta Business Registry, we remain committed to delivering efficient and effective services,” explained the Chief Executive Officer and Registrar of the Malta Business Registry, Dr. Geraldine Spiteri Lucas. The Malta Business Wallet will empower business owners to securely control and authorise access to their information, in full compliance with GDPR regulations. The Malta Business Wallet is available as an application on the Apple Store and Play Store. “As a Government, we will continue looking ahead to the positive impact this project will have on Malta’s economic performance and digital future,” emphasised Minister Silvio Schembri.

Empowering Employees, Delivering Excellence Malta Business Registry reports another year of strong growth, digital transformation and international recognition The Malta Business Registry (MBR) has published its Annual Report and Financial Statements for the financial year ending 31st December 2025, highlighting yet another year of significant operational achievements, continued digital transformation and growing international recognition. During 2025, the Registry registered 3,744 new entities, including 3,628 private companies, while processing an unprecedented 282,575 corporate documents through its BAROS digital platform - an increase of more than 80,000 documents over the previous year. The Registry also issued 12,013 certificates, processed 2,436 certified true copies and completed 1,697 onsite beneficial ownership inspections, further strengthening Malta's corporate transparency and regulatory framework. This Annual Report also marks the successful conclusion of the MBR’s first five-year Strategic Management Plan (2020–2025). An independent review confirmed an implementation score of approximately 95% and an overall organisational maturity rating of 80%, demonstrating that the strategic reforms introduced over the past five years have become embedded across the organisation. Digital transformation remained one of the defining themes of 2025. During the year, the MBR expanded mandatory electronic filing across a wider range of statutory submissions, further enhancing efficiency, reducing administrative burdens and improving the quality and accessibility of corporate information. The continued development of the BAROS platform and the ongoing work on the Malta Business Wallet reinforce the MBR’s long-term vision of providing fully digital, user-focused services. 2025 also saw Malta strengthen its position on the international stage. The Chief Executive Officer and Registrar of the Malta Business Registry, Dr Geraldine Spiteri Lucas, was elected President of the Corporate Registers Forum, while Malta was selected to host the European Business Registry Association Annual General Conference in 2026, reflecting growing international confidence in Malta's regulatory framework and expertise. The report demonstrates the MBR’s continued commitment to strengthening governance, supporting businesses through modern and efficient services, and contributing to Malta's competitiveness as a trusted jurisdiction. Commenting in the Annual Report 2025, Chief Executive Officer and Registrar Dr Geraldine Spiteri Lucas stated: "2025 was a year of meaningful progress and strategic advancement for Malta's corporate and regulatory ecosystem. It has been characterised by the strengthening of international engagement, sustained legislative reform and a determined acceleration of our digital transformation agenda. As we continue on this path of reform and modernisation, our focus remains firmly on building a corporate and regulatory environment that is transparent, efficient and resilient. Digitalisation will continue to drive this journey forward, not as an end, but as a means of delivering a smarter, more responsive and future-ready system that serves the needs of Malta’s economy and beyond." The Hon. Silvio Schembri, during 2025 Minister for the Economy, Enterprise and Strategic Projects, also noted: "The achievements outlined are not isolated milestones, but part of a wider vision to strengthen trust, transparency and resilience within our corporate and regulatory landscape, whilst preparing our economy for the opportunities of tomorrow. It gives me great pleasure to present this Annual Report 2025, which captures a year of steady progress, renewed ambition and tangible delivery in support of Malta's business community." The Annual Report also outlines the Registry's continued investment in digital infrastructure, compliance, international cooperation and employee development, while setting the foundations for the organisation's next strategic cycle aligned with Malta Vision 2050. You may download the MBR's Annual Report 2025 here.

The Malta Business Registry (MBR) hereby informs the public that the following Companies Act (Register of Beneficial Owners) (Amendment) Regulations, 2026 (the "amending Regulations") have entered into force on the 10th July 2026 by virtue of Legal Notice 184 of 2026 amending the Companies Act (Register of Beneficial Owners) Regulations (S.L 386.19) (the "principal Regulations"). The main aim of these changes reflect the second transposition phase of the Sixth Anti-Money Laundering Directive, specifically Articles 11, 12, 13 and 15 of Directive (EU) 2024/1640 of the European Parliament and of the Council of 31 May 2024 on the mechanisms to be put in place by Member States for the prevention of the use of the financial system for the purposes of money laundering or terrorist financing. It is important to highlight the amendments to regulation 7 of the principal Regulations, which introduce three distinct access tiers to the Register of Beneficial Owners. One of these tiers establishes a harmonised “legitimate interest” access through the introduction of presumed legitimate interest categories. Thus, individuals who demonstrate a legitimate interest in combating money laundering, predicate offenses, or terrorist financing will receive specific access to the beneficial ownership records held by the Registrar. Such persons are required to submit a request in writing accompanied by the respective identification details, any information and/or qualification requirements or credentials. This is to be further accompanied by a declaration of the legal basis supporting such request, confirming that the purpose of the enquiry relates to matters which shall contribute towards the prevention and combatting of money laundering, its predicate offences or financing of terrorism. The Registrar shall have the legal power to demand any such document as may be deemed necessary. Guidelines may also be published for this purpose. A decision by the Registrar on such a request shall be communicated in writing to the respective applicant in case that the request is refused. Any applicant who is aggrieved by such a decision may appeal to the Administrative Review Tribunal from such a decision within twenty (20) days from service of the said decision. Any party aggrieved by a decision of the Administrative Review Tribunal may in turn appeal such decision within twenty (20) days from the date of the decision to the Court of Appeal (Inferior Jurisdiction). Any request for access to the Register of Beneficial Owners shall be made by submitting a request to accesstobo@mbr.mt. Furthermore, as a home-grown procedure, companies and other commercial partnerships are explicitly mandated to take reasonable, proactive steps to verify whether any natural person exercises indirect control over the company and other commercial partnerships. The legislative amendments introduce a new BO4 form for companies and other commercial partnerships whose registered shareholders are all natural persons and do not satisfy the below listed criteria outlined in (b) to (d) of the first proviso to regulation 5(3) in terms of regulation 4 of the amending Regulations. To facilitate compliance, the amendments provide for a six (6) month transitional window, during which the affected companies and other commercial partnerships shall assess their setup, ensure conformity, and submit this newly created Form BO4 (Declaration on Beneficial Owners) to the Registrar, where required. The said first proviso to regulation 5(3) provides for the below cumulative criteria to streamline compliance for straightforward corporate setups and thus where: (a) all the registered shareholders of a company are natural persons; and (b) none of the said natural persons is acting as trustee or in any other fiduciary capacity; and (c) no natural person, other than any natural person who is disclosed in the company’s register of members, ultimately owns or controls, whether through ownership or control, more than twenty five percent (25%) of the voting rights or other ownership interests in the company, or otherwise exercises control over the company through other means; and (d) no natural person holds the position of a senior managing official, then the company’s register of members shall be deemed to constitute the company’s beneficial owners register and thus the BO declarations and/or notices shall remain inapplicable. The legislative changes also cater for amendments to the statutory forms to include “place of birth” and “residential address” of the beneficial owner/s found in the Schedule thereto in order to enhance the reporting of beneficial owners to the Registrar. The new forms can be found online by accessing Official Registry Forms and all companies need to use these new amended forms with immediate effect. The older version of the forms will not be valid. The respective users may refer to the published USER GUIDELINES which serve as an aid for the resulting legislative amendments from this Legal Notice. Dr Geraldine Spiteri Lucas Registrar & CEO

Kindly note that users may now search company information and purchase company documents without the need to subscribe for an account on the MBR Online System. The Company Search functionality can be found here: baros.mbr.mt Should you have any queries, do not hesitate to contact us on support.mbr@mbr.mt

According to Legal Notice 247 of 2020, the Annual Return – BO Confirmation is required to be filed within 42 days from the made up date of the Annual Return. This Form can no longer be uploaded as part of the Annual Return process but instead can be uploaded from Online Filing – Form Beneficial Owners. Failure to submit the BO Confirmation within the prescribed period, a penalty will be incurred. For more information, kindly refer to this notice. The Form can be downloaded from here

The Malta Business Registry has published its Annual Report and Financial Statement for the financial year ending 31st December 2020. During 2020, the Malta Business Registry focused on the enhancement of due diligence processes and legislative frameworks that safeguard the Maltese jurisdiction whilst ensuring an accurate Registry. Moreover, the Malta Business Registry implemented all MONEYVAL recommendations resulting in the introduction of new rigorous procedures that improve governance and compliance. The compliance Unit reviewed more than 12,000 forms and conducted more than 27,000 checks. Furthermore, the screening related to new companies amounted to around 11,000 checks which included analyses of directors and shareholders/beneficial owners. In 2020, this unit conducted 828 onsite inspections and is projecting to carry out around 1,000 during 2021. The Malta Business Registry undertook significant legislative developments headed by the legal and enforcement unit as per the evaluation report compiled by the Council of Europe’s Committee of Experts on the Evaluation of the Anti-Money laundering measures and the financing of Terrorism, the legislative initiatives put forward by the European Union and the digitalization drive being undertaken by the MBR to launch a new electronic system using the latest technology. The legal unit undertook the challenging task of keeping the Register of Commercial Partnerships in good order by the striking of defunct companies that were in breach of the Companies Act and its subsidiary legislation. The breaches concerned matters of failure to register the required information on the ultimate beneficial owners of the respective entities, lack of filing of annual financial statements and returns for several years, lack of appointed company officers as required by statutory provisions, being in the process of dissolution for 10 or more years or having had their license revoked. In view of this, the legal and enforcement unit issued 56,000 notifications sent as legal letters resulting in the striking off 11,289 companies from the register as well as an additional 1,166 companies that failed to file the beneficial ownership information. As for the enforcement, 509 legal letters were sent to company officers as final warnings to settle outstanding duties as well as the issuance of 21 judicial letters as enforcement penalties. On the other hand, it is worth pointing out that albeit the Covid19 impact on the global economy, the MBR registered 3,514 new commercial partnerships in 2020. ‘The MBR has stepped up its due diligence procedures by endowing itself with the power to take concrete actions that prove the seriousness and credibility of the entity in question- from asking for additional documentation for verification purposes and applying sanctions when necessary to conducting onsite inspections, increasing administrative penalties and enhancing the enforcement of penalties’ said the Chief Executive Officer of the Malta Business Registry, Mr. Joseph Farrugia. For the MBR Annual Report 2020, the theme of Coastal Towers around the Maltese Islands was used in order to reflect the MBR’s main focus in 2020 to represent itself as a tower watching over incoming activities by consolidating MBR’s due diligence practices and legislative frameworks to maintain an accurate and an up-to-date Register. The MBR’s Annual Report 2020 can be found here.

Kindly note that this guidance document sets out an overview of requirements in terms of the Companies Act (Register of Beneficial Owners) Regulations. Its purpose is solely to provide information and guidance for Maltese-registered companies. You can download the document here.

Today the MBR launched its strategic plan for 2020 – 2025. This Strategic plan was structured around the understanding that the MBR’s role and responsibilities have been broadened as it serves additional business interests besides being Malta’s business registry. It will take significant restructuring for the MBR to establish itself as a key stakeholder and competent authority within Malta’s financial services sector. With this in mind, it was deemed necessary to review contemporary themes that are impacting the strategies of many organisations, particularly public sector agencies. Together with the latest developments in strategy formulation, four main trends will help shape a way forward for the MBR: internationalisation, information and communication technology, changing purposes, and knowledge and learning. ‘This strategy will take us towards being a modern, fully digital industry, offering fast, efficient services to companies, and crucially, easy access to searchers. Four main trends shaped the way forward for this Strategic Plan, these are: internationalisation, information and communication technology, changing purposes and knowledge and learning,’ highlighted Mr. Joseph Farrugia, the Chief Executive Officer of the Malta Business Registry. Furthermore, Mr. Kenneth Brincat, Chief Operations Officer of the Malta Business Registry claimed that ‘This strategic plan is about transformation. Transformation in HR and technology to provide the most efficient and effective service. Thus, this strategic plan in a nutshell is outlining the strategies to have a hardworking workforce using the latest technology to provide service of excellence to our clients.’ ‘In order to lessen unnecessary bureaucratic procedures, the Malta Business Registry will address the demand for an enhanced holistic register by maintaining such Register, complemented with the proposed introduction of a Business Register which will ensure that accurate data is consistently stored and used as a single source for current and future submissions. All economic operators will have the opportunity to update this central register which will contain the necessary identifiers to link the economic operators to various other Government entities – a system which interlinks all services offered by Government to businesses and self-employed,’ explained Minister Schembri. The 5-Year Strategic plan also paves the way for MBR to further safeguard the reputation of the Maltese jurisdiction by bolstering good governance and enhancing its due diligence methods, core values which strongly complement the Maltese Government’s economic strategy. ‘Hence over the next 5 years MBR will seek to make changes, mostly requiring legislative adaptation, which will deter, and act against, those who persist in misusing the register. The strategic plan is also highlighting the global perspective through the internationalisation of MBR’s purposes by adjourning with international developments,’ said Minister Schembri. Minister Schembri commended Malta Business Registry for its major investment in its new online portal, which is based on blockchain technology thus ensuring transparency and efficiency in the services provided as well as MBR’s proactive stance in putting forward suggestions that shape the adoption of new business models in such a manner that Malta anticipates such changes, changes which ultimately lend our jurisdiction a competitive edge in the attraction of new businesses. ‘The Malta Business Registry’s successful strides are a result of a dedicated, well-trained workforce that consider this agency as their second home. The agency’s modus operandi in this regard is already serving as a point of reference within the public sector; a model player within the same sector. The fact remains that in an ever-evolving scenario, one must be ahead of the game. As a Government, we grasped upon the opportunities despite these challenging times and sought to navigate through unprecedented storms to ensure that Malta retains its competitive edge,’ said Minister Schembri. The MBR’s Strategic Plan for 2020-2025 is available on our Website on: https://online.fliphtml5.com/yasjl/rbqy/#p=1