In the past few years Maltese legislature has been active in the sector of fiduciary obligations, particularly those resulting from the creation of trusts and foundations. Trusts were initially introduced into Maltese legislation in 1989 to be fully integrated into domestic law in 2005. Foundations have always been regulated by customary law until the legislator specifically catered for foundations in Maltese Law in 2008. Our specialized legal team has an in-depth understanding and experience in this field and can assist you in finding commercial solutions through fiduciary structures in a flexible and confidential manner.
The firm is actively involved in the creation of both trusts and foundations in Malta and overseas and also provides ancillary consultancy and support through its other group companies. Such structures can be used in a great number of commercial situations such as security structures, collective investment schemes and securitisation transactions.
However, trusts and foundations may also be used to satisfy personal requirements. Thus for example one can create a trust or foundation to ensure that in the event of his death or in the event that he becomes incapable or unable to properly administer his wealth due to ill health, disability or age, the assets which he would have accumulated during his lifetime will not be dissipated carelessly and both his needs and those of his family or heirs will still be catered for. These needs could relate to, for example, medical treatment, accommodation, care subsistence or education. A trust may also be set up for the advantage of the settlor himself, such as for tax planning or asset protection purposes.
Asset structuring may also be carried out through a trust or foundation with the aim of keeping private and structured assets separate. The main advantages of this kind of structuring are estate planning, asset protection, mobility, flexibility and confidentiality.
Our tax advisors, in close collaboration with the trustees and other lawyers at Fenech and Fenech Advocates, can advise you in all financial, legal and tax aspects of your succession planning and estate management to ensure a problem free, discrete and tax efficient solution. We will work together with you to find a solution for a secure, tax-friendly transfer of ownership, while taking into consideration and integrating the various international regulations governing inheritance, gift-giving and asset transfer.
Through our licensed trust management company, we provide specialised trustee and fiduciary services. We provide you with the highest level of protection and security. Any transactions in which a trust or foundation is being used should be handled in complete confidence. Our mission is to provide you with security and the necessary tax and legal framework to structure your assets to your best advantage. Conservative and at the same time innovative, our counsel is tailored to your needs.
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