Legal Notice 184 of 2026 amends the Companies Act (Register of Beneficial Owners) Regulations with the objective of strengthening Malta’s framework on beneficial ownership transparency and aligning it more closely with evolving EU anti-money laundering requirements and international standards. It was published in the Government Gazette on 10 July 2026.
The principal amendments include:
- Enhanced verification of beneficial ownership information: The Malta Business Registry (MBR) is granted clearer powers to verify the accuracy, completeness and consistency of beneficial ownership information submitted by companies, rather than relying solely on self-declarations.
- Improved obligations on companies: Companies are required to maintain accurate and up-to-date beneficial ownership records and to notify the Registrar promptly of any changes. The amendments reinforce directors’ responsibility for ensuring compliance.
- Greater scrutiny of filings: The Registrar may request additional documentation or clarification where submitted information appears incomplete, inconsistent or inaccurate, and may refuse to register or update beneficial ownership information until deficiencies are addressed.
- Administrative enforcement: The amendments strengthen the Registrar’s powers to impose administrative measures and sanctions for failures to comply with reporting and updating obligations, thereby encouraging timely and accurate disclosures.
- Alignment with AML developments: The Regulations support Malta’s ongoing implementation of EU anti-money laundering reforms by improving the reliability and quality of beneficial ownership data available to competent authorities and entities subject to customer due diligence obligations.
Overall, Legal Notice 184 of 2026 does not fundamentally alter who qualifies as a beneficial owner. Instead, it focuses on improving the accuracy, verification, maintenance and enforcement of the Register of Beneficial Owners, enhancing transparency and reducing the risk of misuse of corporate structures for money laundering or terrorist financing.
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