The Mediterranean Islands of Malta and Gozo enjoy a rich tradition in the services industry. English is the language of business and Malta’s company law is heavily based on Common Law and therefore the Malta company formation process will be based on the same principles existing in English company law.
Malta Company Formation
Inter-Serv is an established Malta company formation specialist with roots in sound legal and tax advice supported by fully-fledged company formation and company administration all provided in-house. While maintaining the personalised service of a boutique practice.
Corporate docs are prepared in the Eng language and such documents and the affairs of the company are governed by the CA. The primary incorporating document is the M&A in respect of a company or a partnership deed on respect of a partnership. Such documents establish the principal place of business, shareholders, offices & capital of the company.
The share capital of the company can be based in any of the major currencies & preference should be given to the currency in which the largest portion of trading will take place. Shareholders can be corporate or individual companies. Bearer shares are not permitted by law. In order to have a wide objective base for the company, 2 shareholders would be needed although single-member companies are also permitted albeit with a more focused operation. Single-member companies cannot have a corporate entity as a director.
Minimum no. of directors is 1 and can be corporate or individuals. Directors have a statutory obligation to ensure that the affairs of the company are being undertaken correctly & that matters are properly recorded through the holding of regular of board meetings. The minimum number of board meetings is 1.
Financial Statements & Audit
Annual audited financial statements need to be prepared. The shortest time frame for the 1st year of operation is 6 months & longest permitted by law is 18 months. Audited financial statements are needed since these will be utilised for the submission of the tax return. Year-end is usually a calendar year but different year ends may be chosen.
Malta Corporate Tax
Companies incorporated in Malta are deemed to be resident and domiciled in Malta and are chargeable to tax at a corporate tax rate of 35% on a worldwide basis, i.e. on income and capital gains, wherever they arise.
Corporate Tax Refunds
Shareholders of Malta companies, wherever such shareholders are resident, are eligible to an established system of refunds of Malta company tax payable to shareholders within 45 days of the distribution of dividends and the payment of corporate taxation. In typical cases, the net tax leakage could be of 5%.
Our Malta Company Formation Services
INTER-SERV’s company formation service provides cost-effective and efficient company formation services in Malta.
Our Malta tax advisors are very active in the setting up of tax-efficient Malta Company structures. We can assist you with making the right choice of jurisdiction, type and name of the company.
Under Maltese law, it is not possible to adopt a standard Memorandum & Articles of Association which enables the company to undertake “any legal activity”. Our company formation lawyers will tailor the constitutive documents of your company in accordance with your specific needs and to enable the company to undertake the desired trading, holding or other activities.
Company Registration Process
Registering a company in Malta is simple. The formation process starts with an understanding of the corporate structure required by the promoters of the company. Some issues to be considered are:
- the confidentiality of the company’s ownership and management
- asset protection objectives
- ownership and estate planning considerations
- company management and control
- banking, merchant and credit facilities