REQ 2025 – Update of reporting capabilities for Real Estate & Notary Environments
This year’s REQ saw a few changes in the reporting requirements for Real Estate and Notarial subject persons in Malta.
To address these new requirements, a few new additions were made to the existing Report section to facilitate the exporting of data.
1. Additional filter options have been added to the report filter Consider Only Transaction Parties that Are: to allow for reporting on Buyers/Seller & their UBOs (as previously the only option available was that of Customers (Buyers, Lessees, Sellers, Lessors & Assignors) & their UBOs)
2. New report options have been added to the report section Transactions with Individual Only Parties by Value.
3. New report options have been added to the report section Transactions by Value.
4. New report sections have been added for Transaction Parties by Nationality and Transaction Parties UBOs by Nationality. These two new reports work somewhat similar to the ones for Residence, with the only difference that the new ones factor in the Nationality of individuals instead.
5. A new report option has been added to the report section Characteristics of Non-Individual Parties titled Parties with multi-tier ownership structures (with at least 2 legal parent entities). This new option reports on transaction parties involved in transactions subject to reporting which have at two corporate layers on top of the transaction party (the client).
6. A new report section titled Transaction Parties Appearing in Multiple Transactions has been introduced. Within this report, two reporting option are provided as shown below. It is important to note that for this report to work the reporting range has to be exactly two calendar years (for example 01/01/2023 – 31/12/2024).
Other Small Changes:
- The report option of Parties with multi-tier ownership structures in the report section Characteristics of Non-Individual Parties has been renamed to Parties with multi-tier ownership structures (with at least 1 legal parent entity)
- The report section Transaction Parties by Residence has been renamed to Transaction Parties by Residence/Registration