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[ESTABLISHING A BUSINESS ENTITY IN MALTA]
Flexibility when it comes to distribution amongst beneficiaries and ensures that the property is not divided but is administered as one, ensuring continuity across generations. Corporate version of the private, individual trustee- a company can be set up in order to act as trustee and manage a family’s wealth and assets settled under trust; It cannot be a company that holds itself out as providing trustee services or one which habitually acts as trustee; Does not require MFSA authorisation but only registration in Register kept by the MFSA for that purpose.
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Family Trust Company/ Private Trust Companies (PTC)
Family members can act as directors or exercise control through shareholder voting rights; Change in trustee can be carried out by simply changing the directors; Minimum of three directors: must be approved by MFSA as being fit and proper; At least one of the directors must be a person who has experience in the administration of trusts.
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ILN Corporate Group – Establishing a Business Entity Series
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