Malta has emerged as one of Europe’s most attractive jurisdictions for establishing a family office. Its combination of EU membership, a stable regulatory environment, favourable tax treatment, and a mature professional‑services ecosystem makes it a compelling base for high‑net‑worth families seeking long‑term wealth management, governance, and succession planning.

This article outlines the key considerations, regulatory frameworks, and step‑by‑step process for setting up a family office in Malta in 2026.

What is a Family Office?

A family office is a dedicated structure that manages the financial, investment, and personal affairs of a high‑net‑worth family (Single Family Office) or multiple families (Multi‑Family Office). 

MFSA rules define a ‘family office vehicle” as an investment undertaking which is only available to a group of family members. “Family members” are defined as:

• the spouse of an individual;

• the person who is living with an individual in a committed intimate relationship, in a joint household and on a stable and continuous basis;

• the relatives in direct line;

• the siblings, uncles, aunts, first cousins; and 

• the dependents of an individual. 

Regulatory Framework: MFSA Reforms & NPIF Structures

Recent MFSA reforms have significantly streamlined the establishment of single family offices in Malta:

• Updated NPIF (Notified Professional Investor Fund) rules allow a NPIF set-up exclusively for one family to operate without a licensed fund manager, reducing unnecessary compliance, administrative and operational costs. NPIFs may also be self-managed, which is when investment decisions are taken by an internal investment committee, which facilitaes more effective oversight and control over family assets.

• Clear definitions of “family office vehicles” and eligible investors were introduced in 2024 amendments. 

• Faster registration: MFSA commits to registering NPIFs within 10 working days of receiving a complete notification request. 

• Trustees of Family Trusts framework updated to support estate‑planning structures. 

Choosing the Right Structure

A number of legal structures are permitted, which will largely depend on the family’s objectives. Some of these are discussed below.

• Private limited liability company: This is the most common vehicle for SFOs, offering control and limited liability. 

• NPIF: This structure is ideal for family offices that require a higher degree of formality and regulatory oversight. While not actually regulated and licensed by the MFSA, they must be “notified” to the MFSA.  

• Trusts & Foundations: These are better suited for succession planning, asset protection, and philanthropic governance. 

Key Requirements of a NPIF

The requirements depend upon the choice of legal structure used. The following are some of the key requirements for a family office operating as a NPIF. 

Local director: The NPIF is required to appoint one person on the board of directors who is resident in Malta in order to satisfy the regulator’s local presence requirement. This local director is expected to act as a point of liaison with the MFSA, leading on matters relating to compliance such as regulatory reporting.

Compliance Officer: While this is not a formal requirement, if the local director does not have any compliance background or knowledge, the appointment of a qualified Compliance Officer resident in Malta may be necessary to ensure that the family office meets regulatory requirements. 

Due diligence service provider: A due diligence service provider is always required at set-up and on an ongoing basis. Such firm is required to carry out due diligence on the various service providers and functionaries, including the governing body, founder shareholders, and MLRO of the NPIF, to ensure that they each satisfy at the time of notification and on an ongoing basis, the fitness and properness standards expected by the MFSA.

MLRO: The NPIF is required to have a MLRO who is deemed to be fit and proper by the due diligence service provider. This role can be delegated to the fund administrator.

Quarterly MLRO Report: The MLRO is required to prepare a quarterly MLRO Report, which must be presented to the NPIF’s board. This report must cover:

• a complete list of investors of the NPIF on the reporting date; 

• details of subscriptions and redemptions; and 

• a description of the customer due diligence measures carried out by the NPIF or the administrator on the NPIF’s investors. 

Safe-keeping of assets: The assets of the NPIF must be subject to appropriate safekeeping arrangements. Under MFSA rules, an NPIF may entrust its assets to a custodian or prime broker for safekeeping, and this entity is not required to be located in Malta. Accordingly, the NPIF’s assets may be held in a jurisdiction closer to the family members, where this is operationally preferable.

Offering document: The NPIF is required to prepare an offering memorandum containing prescribed disclosures.

Minimum investment requirement: Investors must invest no less than EUR 100,000 or foreign currency equivalent in the NPIF.

Fund Administrator: The NPIF is required to appoint a fund administrator that is located and authorised in Malta. Such fund administrator may also be appointed as the due diligence service provider.

Annual Compliance Report: The local director is also required to prepare an annual Compliance Report that must be presented to the NPIF’s board of directors. This report must record:

• any breaches to the NPIF’s investment and borrowing restrictions; 

• complaints from unit holders in the fund and the manner in which these have been handled;

• material valuation errors (higher than 0.5% NAV) and the manner these have been handled; and 

• material compliance issues during the period covered by the Compliance Report.

Annual Compliance Certificate: The Board is required to submit a Compliance Certificate to the MFSA every year confirming that the NPIF has complied with the requirements set-out in MFSA rules.

Regular meetings: The board of directors of the family office are required to hold “regular meetings” (quarterly meetings should be sufficient) and ensure that detailed minutes are taken to record accurately the matters discussed and considered. 

Auditor: The NPIF must appoint an auditor to carry out a statutory audit of the company’s financial statements every year.

The Notification Process 

The NPIF is required to submit a complete notification pack to the MFSA together with the applicable notification fee. Although the MFSA describes it as a “notification” it is really a request for MFSA approval. The MFSA will then review the documents and if all is in order, register the NPIF in Malta within 10 working days.

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