HOW TO REGISTER A COMPANY IN MALTA
The idea of opening a company in Malta has numerous advantages among which the taxation system provides up to 6 to 7 refunds to foreign shareholders and full tax exclusion for holding companies with no withholding taxes nor stamp duties in issues of profit repatriation.
Below are the following types of companies that can be registered in Malta. Foreign national enterprises setting up companies in Malta needs to choose from several types of business entities. The Maltese Commercial Code do allow the incorporation of the following structures:
• The private limited liability company: This is the most employed business type in Malta,
• The public limited liability company: This type of business is used by large businesses,
• The general partnerships: These types of companies are suitable for small and medium-sized businesses,
• The limited partnerships: This type has the same characteristics and can be used for the same purpose as general partnerships,
• The sole proprietorships: These types are formed by people carrying out business activities with their own name.
The following are the rundown of prerequisites of Malta company registration.
• The certificate of Incorporation of Malta Company
• And the share Capital Requirements of a Malta Company
• Malta Company Shareholders
• Malta Company Directors
• And the appointment of Company Secretary
• The Registered Office of a Malta Company
• The bankers, Currency, and Signatories
• Everyday Management
• Enrollment Fees
• The registration Process of a Malta Company
More requirements below.
If you have decided to start a business in Malta, many foreign enterprises will consider the amount of money, also called a share capital they will need to invest in the company. Coming from this perspective, the Commercial Code only requires for the private and public companies to deposit a specific amount of money.
• For Maltese private companies, the minimum amount acceptable amount is 1,165 euro’s, and for the public companies, the minimum acceptable share capital will be approximately 46,600 euro’s of which only 25% need to be deposited before the registration takes place. For private limited companies that have authorized share capital above the minimum threshold needs to deposit 20% of the total amount of money.
• The above companies need to have at least two shareholders, regardless of the Company Law likewise allows a single shareholder to establish a company in Malta.
Steps that are involved in opening a company in Malta
Main steps to set up a company in Malta are as follows:
• Reservation a company name with the Maltese Commercial Register, this takes a few hours
• The drafting and notarizing of the company’s memorandum and articles of association takes one day to complete
• The depositing of the minimum share capital with the chosen bank, this also will take a day to finalize
• The filing of the application and the other documents required by the Trade Register.
The following documents are to be filed with the Malta Trade Register are:
• The memorandum with articles of association,
• Confirmation of the company name reservation,
• With the bank receipt containing the share capital deposit,
• And passport copies of the directors, company secretary and shareholders.
The moment the Maltese company is registered, it is very imperative for it to obtain a business license, and register for VAT and also with the Employment Training Corporation. The company tax registrations take two days to complete, the vat registration will be completed in seven days, obtaining employer identification number requires three days, and registering for employment purposes will require just a day to complete.