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The fee for the registration of a trust is two hundred Maltese Liri (approx. US$550). Registration should be effected by a Nominee Company acting as trustee, filing with the Malta financial Services Centre, a certified copy of the trust instrument which must contain: (i) the name by which the trust is to be known and registered. The name of the trust may, subject to the terms of the trust, be changed at any time during the trust's duration which may last for 100 years from the date on which it comes into existence; (ii) the name of the settlor, who may also be a beneficiary under the trust. A unilateral declaration of trust need not contain the name of the settlor; (iii) details of the beneficiaries who must either be identifiable by name or ascertainable by reference to a class or to a relationship; for instance, "the issue of the settlor now living or hereafter born during the trust period"; and (iv) the name of the Nominee Company that will act as one of the trustees or as the sole trustee of the trust. The trust instrument is a highly confidential document and every person, including the trustee, is under legal obligation to regard and deal with all documents and information relating to a trust as secret and confidential. In this regard no person shall be required to produce to any authority, including any court, tribunal, board or committee of inquiry or to divulge to any such authority any matter relating to a trust. |
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