The Malta Business Registry’s efforts to sustain Malta’s fight against crime have been significantly enhanced in 2021, with a noticeable ramping up of dissuasive activity, intent in fostering a veritable clean-up in the way Maltese companies are set-up and run. Data for 2021 provided by the Business Registry shows that in 2021, the MBR rejected some 835 company applications, the majority of which, 470, were ones in which proposed directors and shareholders are involved in other Maltese companies. The right to reject applications purely on the basis of the presence of key individuals whose house was not in order is a relatively new development in Maltese legislation. This includes, for example, directors with incomplete beneficial ownership information in other companies they sit on. The number of rejected applications amounts to more than one-fifth of all requests for new company formation. “This is a reflection of the culture shift that we are seeking to instil, one that promotes quality before quantity,” said Geraldine Spiteri Lucas, recently appointed CEO and Registrar. This effort was complemented with a record 13,717 Know-Your-Customer checks conducted in relation to new...