How we can help?
The Trust and Trustees Act, Chapter 331 of the Laws of Malta reg ulates Maltese Trusts. Fiduciary obligations directly emanating from the Civil Code, Chapter 16 of the Laws of Malta must also be taken into account. Trusts prove to be useful vehicles to segregate a settlor’s assets and protect beneficiaries of trusts. EMCS offers trustee services, with the benefit of having a holistic service envisaging ancillary issues, such as the resolution of tax matters and other miscellaneous issues directly emanating from the administration of trust property.
Foundations are regulated by the second schedule of the Civil Code, Chapter 16 of the Laws of Malta. A fundamental distinction between Trusts and foundations is that the latter institute denotes a separate legal personality and any property may be directly owned by the foundation, which may be administered by individuals.
Malta provides a favourable regulatory framework for both foundations and trusts culminating in positive taxation implications facilitating in the use of such institutes. It is also important to point out that trusts may be converted into foundations and foundations may also be converted into trusts, allowing flexibility when setting up these vehicles. A foundation that is established under Maltese Law may segregate assets into different cells in order to achieve different purposes. Each cell will we vested with a separate patrimony, mitigating the risk associated with that cell to that cell only and not to the entire foundation.
- EMCS secures EU funds for the restoration and conservation of churches July 13, 2020
- Analysis – latest unemployment figures as COVID continues to impact June 30, 2020
- Government Recovery Budget (Covid-19) June 9, 2020
- More people support relaxation measures (Covid-19) June 1, 2020
- The latest unemployment figures as COVID starts to impact – Analysis May 27, 2020