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Trusts
Trusts have represented, over the years, a tried and tested method of distancing oneself from ownership of certain assets. Trusts are often a useful way of mitigating income, capital gains and inheritance taxes. There are many other instances why trusts may be considered useful. Indeed it can be said that trusts have traditionally been used to conserve and protect the private wealth of individuals in order for this wealth to pass on to the next generation.
The Malta Trusts Act 1988, subsequently amended in 1994 and termed the Recognition of Trusts Act, has now been replaced by the Trusts and Trustees Act (Act XII of 2004). The main effect of the Trusts and Trustees Act is that there is now a fully-fledged integration of trusts into Maltese domestic law, thus rendering trusts more popular on both the Maltese commercial and civil front.
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