You can now ensure that your assets securely reach the individuals, charities, and institutions you desire. Here is how Integritas can set up your trust so you can guarantee your legacy.
What is a Trust?
Trusts are accounts established to preserve finances and other assets for use by the designated beneficiary (an individual, group, or entity).
Trusts may be unilaterally declared, and Integritas can assist you in establishing a trust for a child’s education, a scholarship or award, or a charitable organisation.
Setting up a trust fund is a means of securing the welfare of people and organisations you care about. Our experts can assist you in being certain your funds reach your beneficiaries in the manner you desire.
Schedule an appointment with us to discuss which type of trust would best fit your needs.
Malta Trust Registration Assistance and EU Recognition
The establishment and regulation of trusts in Malta are legitimised in keeping with Maltese national law.
The Trusts and Trustees Act, Chapter 331 of the laws of Malta, regulates the setting up of trusts in the country. It provides for the creation of trusts and authorisation and supervision of trustees.
The Malta Financial Services Authority (‘MFSA’) is the competent authority. The Trusts and Trustees 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
To ensure that your trust will be enacted precisely according to your needs, Integritas works strictly with MFSA guidelines. The MFSA is responsible for the authorisation, regulation, and supervision of trustees in Malta.
The MFSA demands the highest standards of probity and honesty. The professionals at Integritas are trained to satisfy the MFSA rigorous requirements.
Being an autonomous public authority constituted and regulated by the Malta Financial Services Authority Act (MFSA Act), the MFSA provides a seamless regulatory function for financial services. It also houses the Registry of Companies.
Creation of Trusts in Malta
A trust can come into existence in any manner. A trust may come into existence by an instrument in writing, including by a will.
A unilateral declaration of trust is also possible. A unilateral declaration of trust is a declaration in writing made by a trustee stating that it is the trustee. It contains all terms of the trust and the names or information enabling the identification of all beneficiaries.
A trust may also come into existence by oral declaration, except for a unit trust which a written instrument must create. A trust may also come into existence by operation of law or by a judicial decision.
There shall be presumed to be a mandate or a deposit rather than a trust where assets are held, acquired or received by a person for another based on oral arrangements of a fiduciary nature, express or implied. This is unless there is evidence of the intention to create an oral trust.
A trust may continue until the 125th anniversary of the date on which it came into existence. Unless sooner terminated, it shall end. This limit does not apply to a trust for a charitable purpose or to a unit trust.
Contact us today at Integritas for more detailed information!