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Malta rules for trustees and fiduciaries

Malta's published material identifies the authority responsible for professional trustees and describes three categories tied to trustee and fiduciary work. It also explains the public register and outlines the application materials shown for each category.

Who regulates trustee and fiduciary business

The Malta Financial Services Authority (MFSA) is Malta's competent authority for authorising financial services activities. The MFSA regulates professional trustees and other fiduciary service providers, including persons acting as mandataries and administrators of private interest foundations. These providers are required to be licensed and regulated under the Trusts and Trustees Act.[1]

The MFSA describes authorisation as part of its supervisory framework. The MFSA assesses whether the criteria in the relevant financial services legislation are met at authorisation and continue to be met on an ongoing basis.[1]

The documentation requested depends on the specific category of licence or recognition.

The MFSA catalogue lists three categories under its Trustees & Other Fiduciaries heading: Trustee / Fiduciary Services, Family Trustees and Notaries acting as Qualified Persons.

  • Trustee / Fiduciary Services covers professional trustees and other fiduciary service providers.
  • Family Trustees are trustees of family trusts, for whom the MFSA describes a specific registration process under the same Act.[1]
  • Notaries acting as Qualified Persons may apply for registration for a defined role involving certain Malta-related property or interests when a trustee is not authorised by the MFSA.[1]

The notary category concerns a qualified person for trustees not authorised by the MFSA in relation to holding securities or interests in a Malta-registered commercial partnership, or immovable property in Malta. The appointment is regulated under the Trusts and Trustees Act, and a specific Legal Notice governs the registration of notaries.[1]

How the public register works

The MFSA's Financial Services Register is a public record showing details about firms licensed and regulated by the Authority. The register can be searched by sector, authorisation and service type.[2]

The register is not a complete guide to a particular trustee's services or the legal terms governing a trust.[2]

Applying for a licence

The MFSA invites an applicant to submit an application pack containing the complete set of documents required for the authorisation sought. Each listed category has an applicable application form and supporting material.[1]

For Trustee / Fiduciary Services, the application materials include Submission of Intent and an Application Form, alongside questionnaires and assessments. Named items include the corporate questionnaire, involvement suitability assessment, third-party outsourcing assessment, ICT and security risk assessment, and Trusts and Fiduciaries Additional Questionnaire. The materials also include a source of wealth and source of funds self-declaration and an SME self-declaration.[1]

For Family Trustees, the listed material includes Submission of Intent, an Application Form, an involvement suitability assessment and a source of wealth and source of funds self-declaration. For notaries acting as qualified persons, the application materials are Submission of Intent and an Application Form. Both categories also point to application guidelines and frequently asked questions as supporting materials.[1]

The documentation requested is identified in the application form for the relevant licence or recognition category. Applicants submit the application pack through the MFSA application portal.[1]

Questions and answers

Which authority regulates professional trustees in Malta?

The Malta Financial Services Authority regulates professional trustees and other fiduciary service providers. Those providers are licensed and regulated under the Trusts and Trustees Act.[1]

What categories does the MFSA publish for trustee related work?

Its catalogue lists Trustee / Fiduciary Services, Family Trustees and Notaries acting as Qualified Persons. Professional trustee and fiduciary services require a licence, while the other two categories follow registration processes.[1]

What information does the Financial Services Register provide?

The MFSA describes it as a public record showing details about firms licensed and regulated by the Authority.[2]

What application materials are listed for professional fiduciary services?

The materials for Trustee / Fiduciary Services include a Submission of Intent, an Application Form and several questionnaires and assessments. Application guidelines and frequently asked questions are also available as supporting materials.[1]

Does the catalogue describe a separate process for family trustees?

Yes. Trustees of family trusts are subject to a specific MFSA registration process and are regulated under the Trusts and Trustees Act.[1]

Related glossary terms

  • Responsible party: The Instructions for Form 3520 define the responsible party for specified events involving a foreign trust. The role differs from an owner or U.S. agent.

Related articles and guides

  • Malta's courts and legal system: Malta's court structure, the Constitution's role and the appeal routes, with the site where Maltese legislation is published, for U.S. citizens reading its law.
  • Guernsey trust and fiduciary regulation: Guernsey regulates trust and fiduciary business through published licence categories, and its public register is where the regulator lists its licensees.
Sources and data notes
  1. Malta Financial Services Authority, Authorisations. https://www.mfsa.mt/our-work/authorisations/. Retrieved .
  2. Malta Financial Services Authority, Financial Services Register. https://fsr.mfsa.mt/dPdUc/. Retrieved .

Dates in this block record when each source was read for this page.