Press Release 3 minute read

TMF Group awarded license to provide trustee services in Malta

26 August 2020

TMF Group announces the addition of a trustee license in Malta. This important territory for trusts expands the company’s global trustee network to 14 key countries.

TMF Fiduciary Services (Malta) Ltd is now fully licensed by the Malta Financial Services Authority to act as trustee. With more than a decade of experience in financial services administration in Malta, our local specialist team includes lawyers, certified public accountants and members of the local fiduciary and tax bodies.

Why do people set up trust structures?

Trusts can help clients in several ways. Depending on their personal circumstances these include: protecting assets now and in the future, transitioning assets (including a business) to the next generation in accordance with the client’s wishes, simplifying the administration of assets and investments worldwide, and supporting compliant international tax planning.

Selecting the right jurisdiction to fit your needs is an important consideration when setting up a trust.

Why Malta?

Maltese trusts are regulated by the Trusts and Trustees Act, Chapter 331 of the Laws of Malta, 2004 which is modelled on Jersey Trust Law of 1984. The application of the Trust and Trustees Act is available to anyone and is applicable to all property of any description. In effect the trust is a legal relationship, in which the settlor formally transfers the asset(s) to the trustee, to hold in benefit of others. The trusts in Malta exist for 125 years from the creation date, unless terminated earlier.

A trust set up in Malta can provide various advantages, including:

  • efficient distribution of assets in accordance with the settlor’s wishes
  • flexibility of trust deed drafting
  • imposing certain conditions as a settlor on the distribution of assets following death
  • consolidation of estate in a trust administered by a professional trustee
  • appointment of a protector
  • potential protection of trust assets from future creditor claims
  • naming a successor trustee following the settlors’ death tax transparency.

Malta is a Civil Law jurisdiction which is considered ‘onshore’ and is part of the European Union, making it unique among its kind.

Talk to TMF Group

TMF Group’s team in Malta is experienced in the full range of management services to help maximise efficiency and productivity. We take pride in assisting our clients’ growth and protecting their businesses and investments by offering tailor-made solutions to meet their needs. Our clients also benefit from TMF Group’s global network of offices in more than 80 jurisdictions worldwide.

Learn more about our services in Malta or make an enquiry with us.

 

NOTES TO EDITORS

For further information, please contact:
Damian Kerr, Director of Corporate Communications, TMF Group
Damian.kerr@tmf-group.com
D: +44 7720 783242

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