Malta’s beneficial ownership rules have changed – does your company need to file the new form BO4?

Legal Notice 184 of 2026 (“LN 184”), which came into force on 10 July 2026, amended the Companies Act (Register of Beneficial Owners) Regulations (the “BO Regulations”).

The amendments, inter alia, extend the beneficial ownership reporting framework to certain companies which were previously exempt from the BO Regulations, introduce a new Form BO4 and require additional information to be collected and disclosed on beneficial owners.

Before LN 184, the BO Regulations did not apply where all of a company’s registered shareholders were natural persons acting in their own capacity.

Following the amendments, these companies must determine whether they qualify for the new “Simplified Approach” or are required to comply with the full beneficial ownership reporting obligations.

Under the Simplified Approach, certain “Qualifying Companies” (companies wholly held by natural persons) may be exempt from complying with the BO Regulations, subject to certain conditions.

Qualifying companies are eligible to apply the Simplified Approach only where all the following conditions are satisfied:

• All registered shareholders are natural persons.
• None of those natural persons acts as a trustee or in any other fiduciary capacity.
• No natural person, who is not disclosed in the register of members, ultimately owns or controls more than 25% of the company’s voting rights or other ownership interests, or otherwise exercises control over the company.
• No natural person holds the position of senior managing official.

Companies that satisfy these criteria are, inter alia, not required to keep a separate register of beneficial owners; their register of members is deemed sufficient. These conditions must, however, be monitored on an ongoing basis, and if any condition ceases to be satisfied, the company will become subject to the applicable beneficial ownership reporting obligations.

Companies registered before 10 July 2026 whose shareholders are all natural persons, but which do not satisfy all the conditions for the Simplified Approach, must file the new Form BO4 within six months of the amendments coming into force—that is, by 10 January 2027.

Failure to file Form BO4 within this period (where applicable) will render the company, and every officer, shareholder and beneficial owner in default, jointly and severally liable to a penalty of EUR 10,000, together with a further daily penalty of EUR 500 for each day the default continues.

Companies must now obtain, maintain and, where applicable, disclose additional information concerning their beneficial owners, including:

• Place of birth
• Residential address
• Details of nominee shareholders and their nominee status

The statutory beneficial ownership forms have been updated accordingly. Companies must use the revised forms for submissions to the Malta Business Registry, as previous versions are no longer accepted.

Companies whose registered shareholders are all natural persons should reassess their beneficial ownership position without delay.

If you believe your company may be affected by these changes, please do not hesitate to reach out to us. Our specialised team can, inter alia, assist with:

• Determining whether the simplified approach applies.
• Identifying whether Form BO4 must be filed.
• Preparing and filing Form BO4 within the prescribed deadline.
• Updating the company’s beneficial ownership records.
• Establishing appropriate procedures to monitor ongoing compliance.

To discuss how these changes may affect your company or group structure, please contact our team or your usual PwC Malta contact.