Company incorporation Process in Malta

Secondary sector, i.e. Industrial sector plays a key role in the development of any economy. The growth in this sector brings the country from the underdeveloped to developing and from developing to developed category of nations.

And company form of business occupies the significant share in this sector as they lead to revolution on many fronts such as technology, operations, customer service, etc.

It is essential to register the company under the specified laws, according to the country in which it is going to operate. Thus, companies have to follow various rules from the incorporation till the liquidation.

Every country designs the framework in such a way that the companies are given complete freedom to prosper, but at the same time, any fraudulent or illegal practices are avoided.

Malta’s legal framework also adheres to this. The country, being considered as one of the most prosperous countries in the European Union, is a major attraction for investors around the world.

And that’s why the process of company formation in Malta is simple and straightforward.

Stages:

The process of company incorporation in Malta has following stages:

• Company Registration

• Apply for business license and necessary permits as per the specific nature of business.

• Apply for Tax Identification Number (TIN)

• Register for VAT

• Apply for Employer Identification Number, known as PE number

• Register the employees with the Employment Training Corporation (ETC).

Time required:

Generally, two working days are required for company incorporation in Malta.

Registration:

This is the initial step and has to be taken after due planning.

• Documents required

Following documents are to be submitted for company registration:

1. Memorandum of Association

2. Articles of Association

These documents have information regarding:

• Type of company

• Name of the company

• Business activities and their objectives

• Registered office in Malta

• Share capital

• Details of the Directors

• Details of Company Secretary

Along with these 2 documents, copies of the identity proofs of the directors and company secretaries are also to be submitted.

Following mentioned are mandatory provisions regarding above details:

• Types of companies

The following types of companies are registered as per law applicable for company formation in Malta.

1. Limited liability companies

2. Limited partnerships

3. General partnerships

• Physical presence

The highlight here is that it is not mandatory for the company from legal as well as tax perspectives to have an office in Malta for getting registered.

• Share capital

Companies should have prescribed share capital, which can be denominated in any currency.

• Shareholders

Minimum two shareholders are must for every company.

• Directors

Minimum one director should be appointed. The law does not require the directors to be Maltese by nationality or residence.

• Company secretary

At least company secretary is must for every company.

• Bank Account

Companies can have a bank account in any part of the world.

Many foreign entrepreneurs own companies in Malta due to the several benefits and tax deductions provided by the government and free flow of foreign exchange in and out of the country.

Businessmen can take the help of consultancy services in Malta for company formation process with government authorities. These consultancies prepare required documents and complete the process real quick and smooth.