Family Office in Malta: Rules, Costs and Tax in 2026

How is a family office licensed in Malta?

There is no family office licence: the MFSA says the family office 'is not directly or expressly regulated by the MFSA as a specific license category', although structures and activities it uses may need approval or notification. The dedicated route, set by an MFSA circular of 27 November 2024, is a Notified Professional Investor Fund (NPIF) that is a 'family office vehicle' investing the private wealth of investors without raising external capital: it may be managed by a Malta fund manager exempt from an investment services licence under Regulation 3(1)(f) or 3(1)(t) of the Investment Services Act (Exemption) Regulations (S.L. 370.02), and an MFSA circular of 28 April 2026 lets such an NPIF be self-managed under the same requirements. An NPIF is notified to the MFSA rather than licensed; a Due Diligence Service Provider verifies the exemption, the NPIF's governing body endorses it, and an initial and an annual confirmation go to the MFSA. [1, 2, 3, 9]

What is the minimum wealth for a family office in Malta?

Where an NPIF is managed by an exempt Malta fund manager, the MFSA guidance (Q2.03) says 'qualifying or professional investors must invest a minimum of EUR 5,000,000' in the NPIF, which cannot be reduced below that by partial redemption, and 'must have aggregate net assets in excess of EUR 50,000,000', whether or not those assets are invested in the NPIF. Asked whether each investor must meet the EUR 50 million test, the MFSA answers no: it looks through the structure, and the investors in the overall family office structure must hold it collectively (Q2.04); the guidance does not say when net assets are measured, and the November 2024 circular says the exemption is verified 'on an initial and ongoing basis'. The April 2026 circular says exempt self-managed NPIFs must meet the same requirements as exempt third-party managed NPIFs under Section 5 of the NPIF Supplementary Rules, the section that the 2024 circular says sets the thresholds for the manager exemptions; the guidance sets no wealth threshold for other structures such as holding companies, private trust companies or family trusts. [1, 2, 3]

Compare: Family Office Minimum Net Worth by Country

Who counts as family?

Two definitions apply, depending on the manager's exemption (NPIF Rulebook, Part A, version of 30 May 2025). Under Rule 6.02 (Regulation 3(1)(f)) the vehicle must be available only to a group of family members that existed before it, with family members as the sole ultimate beneficiaries: 'the spouse of an individual', a partner living with the individual 'in a joint household and on a stable and continuous basis', and 'the relatives in direct line, the siblings, uncles, aunts, first cousins and the dependants of an individual'; new family members may join later. Under Rule 6.03 (Regulation 3(1)(t)) the vehicle may have no clients other than 'family clients' (family members, former family members, key employees, former key employees and non-profits funded only by family clients) and must be wholly owned by them and controlled by family members or family entities; family members are the lineal descendants, including adopted, step and foster children, of a common ancestor no more than 10 generations removed from the youngest generation, and their spouses or spousal equivalents. The April 2026 circular aligns the definition of 'family member' with the Trustees of Family Trusts Rulebook so that it expressly includes 'descendants, by consanguinity, adoption or affinity'. [3, 9]

Can one office serve several families?

No dedicated route. The MFSA says multi-family offices serving multiple unrelated families generally fall within the full scope of financial services regulation and may need an investment services licence (for example for discretionary portfolio management, investment advice or managing funds not reserved to a single family) and authorisation as a professional trustee. A joint MFSA and MTCA communication (3 November 2025) says the 15% tax rules for senior employees (L.N. 250 of 2025) also cover multi-family offices confirmed by the MFSA; Forvis Mazars describes these as licence holders investing private wealth without raising external capital. [2, 10, 11]

Which law and courts apply?

Malta is an EU member state. Its succession law reserves part of an estate for descendants and the surviving spouse as a credit against the estate (Chambers Private Wealth 2026, Fenech & Fenech), and public wills are received by a notary and registered in the Public Registry (Chetcuti Cauchi, updated February 2026). Trusts are governed by the Trusts and Trustees Act (Cap. 331), and the MFSA's Trustees of Family Trusts Rulebook applies to trustees registered under its Article 43B; the MFSA cites 'a skilled, English-speaking workforce', but the European e-Justice Portal says a court application must be drawn up in Maltese, and a request may be filed for proceedings in English if one of the parties is a foreigner. [2, 12, 13, 14]

Reported by the sources named, not confirmed by an official source.

What substance is required?

The MFSA says substance and local presence requirements depend on the structure: if it includes an NPIF, its governing body must include at least one local member, and Rule 2.01(ii) of the NPIF Rulebook requires at least one member of the governing body to be resident in Malta. Trusts and NPIFs in a family office may be 'subject persons' under Malta's anti-money laundering rules, and Griffiths + Associates (FinanceMalta industry update, March 2025) says an NPIF must still appoint a Money Laundering Reporting Officer. No office, staff or spending test for a single family office was found. [2, 9, 15]

Which holding vehicles are available?

The MFSA names holding companies, private trust companies, special purpose vehicles and collective investment schemes as frequently used structures, as well as family trusts whose trustees are registered under Article 43B of the Trusts and Trustees Act (Cap. 331) and regulated under the Trustees of Family Trusts Rulebook. Rule 2.05 of Part A of the NPIF Rulebook lets an NPIF be set up as an investment company with variable or fixed share capital (SICAV or INVCO), an incorporated cell company or cell, a limited partnership, a unit trust or a contractual fund, and Griffiths + Associates (FinanceMalta industry update, March 2025) says a family office NPIF is typically a company, partnership or trust. Pbl (May 2025) describes private foundations as registered legal entities that usually last up to 100 years, and trusts as generally lasting up to 125 years. [2, 9, 15, 16]

What is the corporate tax rate?

Companies pay 35% on their worldwide income and capital gains, and under the imputation system shareholders are entitled to a refund of part or all of the tax paid by the company (MTCA). An undated Malta Enterprise guide (about 2014) sets the refund at 6/7 of the tax paid by the company, for an effective rate of about 5%, and an industry update by 1st Step Solution on FinanceMalta (January 2026) describes a participation exemption for dividends and gains from qualifying holdings. Under L.N. 188 of 2025, companies and certain trusts may elect a final 15% tax with no refunds from year of assessment 2025, for at least five years, but it cannot be lower than the tax after refunds under the ordinary system (BDO, KPMG). [4, 17, 18, 19, 20, 21]

Are there tax incentives for family offices?

No tax regime for the family office entity itself was found. A joint MFSA and MTCA communication (3 November 2025) says the Senior Employees of Family Offices, Back Offices and Treasury Management Operations Tax Rules, 2025 (L.N. 250 of 2025) set a 15% rate for senior employees holding eligible offices with single family offices, multi-family offices and back office or treasury operations serving them, as confirmed by the MFSA, on emoluments of at least EUR 65,000 a year (rising by EUR 10,000 every five years), for five years with two possible five-year extensions; the rules are deemed in force from 1 January 2025 and apply from year of assessment 2026. Forvis Mazars and Ganado (October 2025) report that the employee must not be domiciled in Malta, and Forvis Mazars that the 15% applies to emoluments of up to EUR 7 million a year; the legal notice itself could not be opened. [10, 11, 22]

Is there personal income tax?

Malta's 2026 rates for individuals run from 0% to 35%, with 35% on chargeable income above EUR 60,000 in every category (single, married and parent rates) (MTCA). PwC (reviewed 30 September 2026) says residents domiciled in Malta are taxed on worldwide income, while residents not domiciled there are taxed on Maltese income and on foreign income received in Malta but not on foreign capital gains, with a minimum tax of EUR 5,000 a year if their foreign income is at least EUR 35,000. People with a special tax status pay 15% on foreign income remitted to Malta (see residency). [23, 24]

Compare: Countries With No Personal Income Tax

Is there inheritance or estate tax?

PwC (reviewed 30 September 2026) says Malta has no inheritance, estate or gift taxes. Instead, duty is due on death on immovable property in Malta and Gozo, whatever the residence or nationality of the deceased or heirs: 5% of its market value at the date of death, but a surviving spouse pays no duty on the deceased's share of their sole residence and children inheriting their parents' residence (used by the parents as their residence for the last three years, per the MTCA FAQ) are exempt if the declaration is made within one year of death (MTCA); PwC says inherited shares in a Maltese company other than a property company bear 2%, and the MTCA gives 2% for share transfers and 5% for property companies. A reduced 3.5% rate applies to part of the value of a dwelling house occupied by an heir: the Reduced Rate of Duty on Transfers Causa Mortis of a Dwelling House Rules, 2025 (L.N. 306 of 2025) apply to transfers from 28 October 2025 (Malta Institute of Taxation), and PwC and BDO report that the 3.5% band now reaches EUR 400,000 (from EUR 200,000), with the first EUR 35,000 exempt where the house was the deceased's ordinary residence (BDO), while MTCA pages still show EUR 200,000 and EUR 175,000. [5, 6, 25, 26, 27, 28, 29, 30]

Compare: Inheritance Tax by Country

How do wills and succession work?

Maltese law reserves part of the estate for descendants and the surviving spouse: according to Chetcuti Cauchi (updated February 2026), children share one third of the estate's value if there are up to four and one half if there are five or more, and the spouse gets one quarter with descendants or one third without. Chambers (Fenech & Fenech, 2026) says the reserved portion is a credit against the estate, calculated on the whole estate after debts and including lifetime gifts, with 8% interest that can run from the opening of the succession (when it runs depends on when the claim is made), and that a testator cannot impose any burden or condition on it. Pbl (May 2025) says the EU Succession Regulation applies, allowing individuals to choose the law of their nationality for their estate. [12, 13, 16]

Reported by the sources named, not confirmed by an official source.

Can the family get residence?

The Malta Permanent Residence Programme (MPRP) 'grants permanent residence in Malta': the Residency Malta Agency lists a EUR 37,000 government contribution and a EUR 60,000 administrative fee (EUR 7,500 for each adult dependant other than the spouse), both set by L.N. 146 of 2025, a residential property bought for at least EUR 375,000 or rented for at least EUR 14,000 a year and retained for at least five years, a EUR 2,000 donation to a local NGO and capital assets of EUR 500,000 (including EUR 150,000 in financial assets) or EUR 650,000 (including EUR 75,000 in financial assets); up to four generations can be included in one application and the residence card (EUR 500 per person) covers five years. Under a joint MFSA and Residency Malta Agency communication of 3 December 2025, ultimate beneficial owners and senior employees holding an eligible office under L.N. 250 of 2025 with MFSA-authorised family office entities can apply for three-year renewable residence permits that extend to their dependants; the agency states no minimum investment or fee and does not say whether they lead to permanent residence. PwC reports that the Global Residence Programme (third-country nationals; 15% on remitted foreign income, minimum tax EUR 15,000, property bought for at least EUR 275,000 or rented for at least EUR 9,600 a year, lower in some areas) will be replaced from 1 January 2027 by the Individual Tax Programme Rules, 2026 (L.N. 195 of 2026): property from EUR 700,000 or rent from EUR 14,000 a year and a minimum tax of EUR 35,000, with applications made by 31 December 2026 kept under the current rules until 31 December 2031 (PwC, Deloitte, Chetcuti Cauchi). [7, 8, 24, 31, 32, 33, 34, 35]

Compare: Residency by Investment by Country

How long does set-up take?

The MFSA says an NPIF 'does not need to undergo full licensing' but is subject to a notification process, which 'allows for a quicker time to market (10 working days)'; the guidance does not say from when the 10 days run and gives no other timing. [2]

What are the official fees?

Indicative, reported by MK Fintech Partners (Mondaq, July 2025) from the Investment Services Act (Fees) Regulations, 2024 (L.N. 370 of 2024, in force from 1 January 2025): a Notified PIF application fee of EUR 2,000 in 2025 rising to EUR 2,750 by 2027, EUR 750 per sub-fund, and annual fund supervisory fees in a range of EUR 2,500 to EUR 4,500 over the years for notified AIFs and PIFs together. The official schedule (L.N. 370 of 2024, Government Gazette No. 21,366 of 24 December 2024) is listed on legislation.mt but its text could not be opened, so no 2026 figure is given; the repealed 2014 regulations (S.L. 370.03) set EUR 2,000 on notification and EUR 2,000 a year. MPRP fees are listed under residency. [36, 37, 38]

Reported by the sources named, not confirmed by an official source.

Does a private trust company need a licence in Malta?

Under Article 43B of the Trusts and Trustees Act (Cap. 331), as the MFSA's rulebook applies it, a trustee set up as a company that acts only for family trusts registers with the Malta Financial Services Authority (MFSA) and does not need authorisation as a trustee (the text of the Act itself was not opened). The rulebook applies to such companies whose objects and activities are limited to acting as trustee for specific settlors and providing administrative services for specific family trusts, which do not otherwise hold themselves out as trustees to the public and which do not act habitually as trustees for more than five settlors of family trusts at a time (Rule R1-1.9; Ganado Advocates calls these trustees PTCs). A family trust is a trust created to hold property settled by the settlor or settlors for the present and future needs of family members or family dependants who are definite and can be ascertained. Registered trustees are governed by the MFSA's Trustees of Family Trusts Rulebook, version 2.00 of 27 November 2024, which updated the rules first issued on 29 April 2016: it requires a family relationship between the settlors or beneficiaries and the persons holding a beneficial interest in the trustee, which the MFSA says applies at registration and on an ongoing basis (beneficiaries were added in 2024); it limits a registered trustee to five settlors at a time, with no set limit on the number of trusts 'within reason' (MFSA feedback statement); and it bars the trustee from administering private interest foundations, which the MFSA says needs authorisation under Article 43. The 2024 rulebook widened the definitions of family member and family dependant to relatives in the collateral line up to any degree (the 2023 draft said the fifth degree), persons in a stable and committed relationship living in a joint household with the settlor, and persons with whom the settlor has descendants. An MFSA circular of 28 April 2026 aligned the definition of family member in the Notified Professional Investor Fund (NPIF) Rulebook, used for single family offices, with this rulebook. [3, 39, 40, 41, 42, 43]

Who supervises it, and what must it file?

The Malta Financial Services Authority (MFSA) registers the trustee under Article 43B (registration, not authorisation), enters it in its public Register of Trustees for Family Trusts and supervises it under the Trustees of Family Trusts Rulebook; its fitness and properness assessment covers the directors and any other person significantly involved in the trustee's decision-making, on an ongoing basis. [39, 42, 43]

What local requirements apply?

Under the 2024 rulebook the trustee must be a limited liability company registered in Malta under the Companies Act, with a board of at least three directors, all individuals (Rules R3-3.1 and R3-4.1). It must be effectively directed or managed by at least two individuals (Rule R4-2.2), and at least one director must have knowledge and experience of trust administration (Rule R3-4.3). It must keep records for at least five years after the trust or trusteeship ends, submit audited annual financial statements and report beneficial ownership information on all trusts it administers. The MFSA's feedback statement of 27 November 2024 says the Financial Intelligence Analysis Unit (FIAU) determined that registered trustees do not fall within the definition of 'subject person' under the anti-money laundering regulations (PMLFTR, S.L. 373.01), so the MFSA removed the requirement to appoint a money laundering reporting officer; beneficial ownership reporting is governed by S.L. 331.10. [39, 42]

What are the official fees?

No official fee amount found. The MFSA's Trustees of Family Trusts Rulebook (2024) provides for an application fee 'as may be prescribed by the Authority', a registration fee due on submission of the application and an annual supervisory fee, but states no amounts; no MFSA fee schedule for registered trustees was opened. [39]