Property Smart: AML Requirements for Company Involvement

Ensure a smooth property transaction when buying, selling, or leasing through a company by adhering to Malta’s AML regulations.

Key Points

1. Understanding AML Requirements in Malta
Malta follows strict EU AML rules to prevent money laundering and terrorist financing. The goals include:

• Identifying and verifying beneficial owners and their funds’ legitimacy.
• Ensuring property transactions comply with legal standards.

2. Essential AML Documents for Companies

a. Company Incorporation Documents

• Certificate of Incorporation: Proof of legal registration.
• Memorandum & Articles of Association: Details of structure and rules.

b. Proof of Identity for Beneficial Owners

• Valid ID (passport or national ID) and address verification (recent utility bills or bank statements).
• Identification of Directors and Senior Management.

c. Proof of Beneficial Ownership

• Beneficial Owner Declaration: Identifying individuals with over 25% ownership.
• Shareholder Register: List of shareholders and ownership percentages.
• Organizational Chart: Diagram of company structure, including subsidiaries.

d. Source of Funds Documentation

• Bank Statements: Showing the origin of funds.
• Audited Financial Statements: Recent financial reports.
• Sale or Loan Agreements: Proof of asset sales or borrowed funds.
• Enhanced Due Diligence: For high-risk cases, additional documentation
• may be required.

3. Final Thoughts
Compliance with AML requirements ensures lawful and seamless property transactions. Prepare documents in advance and work with legal and compliance experts to meet all regulations, reduce risks, and complete transactions successfully.4o