Foundations

A synopsis of the basic rules regulating private foundations in Malta, by Jotham Scerri-Diacono:

Although foundations have long been established in Malta, it is only as recently as 2007 that parliament passed the necessary law to deal comprehensively with the various aspects pertinent to foundations. The law regulating foundations in Malta is found in Act XIII of 2007.

This Act, in tandem with the Voluntary Organisations Act, 2007, now creates an all-encompassing regime that goes a long way to clearing previous uncertainties and misconceptions. The law tackles head-on and in a user-friendly, step-by-step style, the multitude of issues that foundations raise, particularly when used in a non-traditional backdrop.

Indeed, because foundations are already familiar in the Maltese legal context, it has been postulated that the passing of the said legalisation will augment the popularity of foundations in the Maltese legal context. Becoming familiar with this law has certainly come at a good time.