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Trusts, Foundations and Wealth Management

Family Trusts

This article was written by Veronica Grixti and Joshua Chircop.The main Maltese legislation regulating trusts in Malta, namely the Trusts and Trustees Act, Chapter 331 of the Laws of Malta ('the Act'), provides that a trust may be created to hold property settled by a settlor or settlors for the present and future needs of family members or family dependants, as defined hereunder, who are definite and can be ascertained ('the Family Trust').Pursuant to the Act, the Malta Financial Services Authority ('the MFSA') has drawn up Rules for Trustees of Family Trusts ('the Rules'), which regulate those companies in formation…
Veronica Grixti
17th March 2017
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Trusts, Foundations and Wealth Management

New Regulations on Protected Disability Trusts

In virtue of the powers conferred by Article 57 (1) of the Trusts and Trustees Act, Chapter 331 of the Laws of Malta (hereinafter referred to as 'the Act'), the Minister of Finance, acting on the advice of the Malta Financial Services Authority (hereinafter referred to as 'the MFSA'), has recently promulgated the Trusts and Trustees Act (Protected Disability Trusts) Regulations (hereinafter referred to as 'the Regulations'). The Regulations were promulgated in virtue of Legal Notice 324 of 2016 and published on the Government Gazette on the 7th of October 2016.PurposeThe purpose of the Regulations is to regulate the establishment and…
Joseph Borg Bartolo
1st November 2016