In an era defined by digital acceleration, Malta is making a definitive statement – and at the heart of this transformation, is the Malta Business Registry. 

Delving into the ambition behind Malta’s recently launched Companies (Amendment) Act 2025, MBR CEO and Registrar Dr Geraldine Spiteri Lucas maintains, “the overarching strategic vision guiding these reforms is to modernise Malta’s corporate framework by promoting digital-first governance emphasising paperless, efficient processes.”

Indeed, she maintains, rather than a mere update, this legislation represents a fundamental overhaul designed to forge a future-ready, agile and transparent hub for modern business.

A central pillar of the new legislation is the aggressive reduction of red tape – a move designed to directly address the pain points previously faced by businesses, particularly in the financial sector. The reliance on physical documentation and cumbersome procedural requirements had, in the past, led to operational delays and increased administrative overheads, the Registrar begins.

The reforms tackle this head-on. One of the most impactful changes is the introduction of a new simplified dissolution process for inactive private limited companies. This removes the need for an appointed liquidator – a traditionally lengthy and costly step.

“One must appreciate that the former voluntary liquidation process with a liquidator can take six to 12 months or longer,” explains Dr Spiteri Lucas. “The simplified process can be completed in just over three months, depending on filing speed and creditor responses, and is therefore very cost-effective.” To qualify, a company must have ceased commercial activity and be able to declare solvency, ensuring the pathway is reserved for genuinely dormant entities.

Further streamlining is evident in areas like the allotment of shares for non-cash consideration, which no longer requires a mandatory expert’s report for values under €50,000, with a director's declaration now sufficing. These are not minor tweaks, but tangible changes that translate into significant time and cost savings, allowing businesses to operate with greater flexibility.

Moreover, the Act firmly embeds digital processes into corporate law. A key requirement is that now it is easier for companies to change their electronic mail address registered with the Registrar for official communication. This move, aligned with EU directives on digital tools, is far more than an administrative update.

“It is not just an administrative tweak, but represents a strategic shift to proactive, transparent and enforceable company regulation,” Dr Spiteri Lucas notes. “Companies are no longer reliant on postal delays, which historically caused missed deadlines and fines. A stronger audit trail is created and maintained, as email correspondence creates a verifiable record of when a company was notified.” 

This digital transformation is powered by the MBR’s own operational revolution, she reveals, describing the rollout of the Business Automation Registry Online System (BAROS) in March 2024 as a game-changer. This fully digital platform facilitates everything from company incorporations to the submission of annual accounts, dramatically improving efficiency.

Dr Spiteri Lucas shares the tangible results, such as faster company incorporations with clients able to incorporate a company, sometimes in less than 24 hours, submission of statutory documents, and the use of simple qualified electronic signatures (QES), which have the same legal validity and security as handwritten signatures, enabling paperless transactions.

Moving forward, the MBR’s ambition extends beyond simple digitalisation. It is actively integrating artificial intelligence to enhance both its internal operations and client services, signalling a move towards intelligent governance.

A key project in this regard is the Central Data Repository (CDR), where AI will be used for identity verification. “Through the incorporation of AI, the CDR will reduce repetitive processes, enhance efficiency, and centralise identity and due diligence documentation, thus enabling the ‘once-only’ data submission principle and improving ease of doing business in Malta,” she explains. 

Internally, the MBR’s Intelligence Management Unit (IMU) uses sophisticated technology to analyse compliance documents, spot anomalies, and support data-driven enforcement strategies. Even the BAROS platform employs AI-associated techniques to assess the phonetic similarity of proposed company names, enhancing accuracy and speeding up approvals.

“Looking ahead, the MBR is actively building its AI strategy as part of ongoing digital modernisation,” Dr Spiteri Lucas confirms. The goal is clear: to evolve from a simple database into a “dynamic, intelligent governance hub.”

These comprehensive reforms are fundamentally designed to bolster Malta’s competitiveness on the international stage. By enhancing legal clarity, increasing transparency through measures like the elimination of ‘Exempt Company’ classifications, and formalising the registration of share pledges, Malta strengthens its appeal for foreign investment.

The amendments, coupled with the MBR’s own digital transformation, strategically position Malta to meet future challenges, from the rise of remote work and cross-border operations to evolving EU regulations like the upcoming Corporate Sustainability Reporting Directive (CSRD).

As our conversation concludes, Dr Spiteri Lucas summarises the profound nature of this shift. “Overall, the amendments to the Companies Act and the transformation of the Malta Business Registry represent more than administrative improvements; they reflect a deliberate pivot toward a future-ready, digital-first and risk-aware corporate ecosystem,” she asserts.

“Particularly as AI becomes embedded in global corporate regulation, Malta is ensuring its competitive future, while reinforcing transparency, trust, and corporate integrity. And the key player in reaching this goal is the Malta Business Registry.”