The Central Bank of Malta said that the Investment Registration Scheme will end on 16 June. The purpose of the scheme is to provide residents in Malta who hold foreign assets without the necessary exchange control permits as was required by the Exchange Control Act and/or without declaring the relevant income under the Income Tax Act, with the opportunity to regularise their position under both Acts.

To benefit from this scheme, eligible assets must be registered on the appropriate forms with Registration Agents appointed by the Central Bank of Malta (who must be credit institutions, stockbrokers or other Category 2 or 3 Investment Services licence holders). Registration requires the submission of original documentary evidence confirming that the applicant was the beneficial owner of the registered assets on the applicable date.

Upon registration under the scheme, the beneficial owner of the registered assets will be exempted from retrospective action by the government in respect of such assets in terms of the Income Tax Act and the Exchange Control Act.

Further information on the Investment Registration Scheme is available on www.centralbankmalta.com.