Claris Capital Projects advises on
the acquisition of property in Malta via a Maltese trust. Claris Trustees
& Fiduciaries Ltd, our licensed trust company, acts as professional trustee to a
number of private trusts including trusts holding estates of high net worth
individuals, including real estate and immoveable property, art, vessels, luxury
vehicles and aircraft. Claris Trustees provides confidential wealth ownership
and management for local and foreign HNW individuals.
The setting up of trusts in Malta is
regulated by the Trusts and Trustees Act. The Act provides for the creation of
trusts and authorisation and supervision of trustees. In this regard, the MFSA
is the competent authority for the purposes of the Act. The Act incorporates
within its provisions the Hague Convention on the Law Applicable to Trusts and
on their Recognition which Malta has ratified.
The Maltese Regulatory Environment
The Malta Financial Services
Authority (MFSA) is responsible for the authorisation, regulation and
supervision of trustees. The MFSA also licenses, regulates and supervises
banking and financial institutions, and investment services business.
The MFSA is an autonomous public
authority constituted and regulated by the Malta Financial Services Authority
Act. The MFSA aims to provide a seamless regulatory function for financial
services. It also houses the Registry of Companies.
The MFSA requires the highest
standards of probity and honesty. Every licence is issued subject to standard
conditions which may be adapted to suit certain circumstances so long as
standards are not compromised.