Claris Trustees & Fiduciaries Ltd, our wholly-owned licensed trust company, is one of the foremost Maltese trust companies licensed by the Malta Financial Services Authority. Claris enjoys Professional Trustee Status in terms of the new Trusts and Trustees Act. The new legislation, replacing the 1998 law, provides for the creation of trusts in Malta and regulates organizations providing trustee services in Malta.
Our trust company acts as professional trustee to a number of private trusts including trusts holding estates of high net worth individuals, including real estate and immoveable property, art, vessels, luxury vehicles and aircraft. Claris provides confidential wealth ownership and management for local and foreign HNW individuals.
The Claris management team is composed of lawyers, accountants, financial advisors and a notary public, bringing together the strategic mix of skills and experience necessary for the running of a high-calibre trust operation. Under its full trust licence, Claris is authorised to conduct the following activities:
- to act as a Professional Trustee
- to administer Private Foundations
- to provide fiduciary and nominee services
To view our listing as a licensed company on the website of the Malta Financial Services Authority, please click here.
The Malta Financial Services Authority
The Malta Financial Services Authority (MFSA) is responsible for the authorisation, regulation and supervision of trustees. The MFSA also licenses, regulates and supervises banking and financial institutions, and investment services business.
The MFSA is an autonomous public authority constituted and regulated by the Malta Financial Services Authority Act (MFSA Act). The MFSA aims to provide a seamless regulatory function for financial services. It also houses the Registry of Companies.
The MFSA requires the highest standards of probity and honesty. Every licence is issued subject to standard conditions which may be adapted to suit certain circumstances so long as standards are not compromised.
Corporate Trustees under the Trust & Trustees Act
The trustee is the person or persons holding or in whom the property is vested on trust for the beneficiaries. Trustees are usually appointed by, or as provided in, the trust instrument and in such number as may be so provided. A trustee may be a natural person provided he is of full age and legal capacity and not under any legal impediment to so act.
A trustee may also be a juridical person the objects of which include acting as trustee. A corporate trustee can be defined as a trustee which is any legal person wherever incorporated.