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GLOBAL INFO

Malta

COUNTRY:

MALTA.

QUESTION:

ANSWER:

1.      What are the main company forms in your country?

The main company form is the Limited liability company. It is possible to establish other kinds of commercial partnerships such as the partnership en nom collectif and the partnership en commandite.

2.      Which is the most preferred company form by foreign investors?

Limited liability company.

3.      What are the basic capital requirements of this company? (minimum amounts, types of capital, deadline of capital contribution)

A minimum paid up share capital of one thousand and one hundred and sixty five euro (€1,165). Higher thresholds apply for regulated companies. Evidence of remittance of share capital must be provided simultaneously with incorporation.  

 

4.      What are the basic rules of shareholders liability for company debts in this company?

The principle is that the liability of shareholders is limited to any unpaid part of the share capital. Beyond that, there is no personal liability of the shareholder saving exceptional instances of “lifting of the corporate veil”.

5.      What are the basic management requirements for this company? (only natural persons, or nationals can be managers etc.)

In the case of a private company the minimum number of directors is one, in the case of a public company the minimum number of directors is two. Both physical persons and corporate bodies may act as directors.  There is no statutory requirement for the director to be resident in Malta, though the residence of directors may have tax implications.  

In regulated companies, such as banks, insurance companies, investment services providers, directors must be approved by the regulator.

6.      How long does the registration procedure of this company take?

Registration is completed within 2 days from the date of submission and filing of all required documentation, including the requisite Know Your Customer documentation.

7.      What are the main costs of formation of this company in local currency?

A Registration Fee (and an Annual fee, payable yearly thereafter) is payable to the Registrar of Companies. Registration fee varies depending on the amount of authorised share capital. For companies whose authorised share capital does not exceed €1,500, the Registration Fee and Annual Fee thereafter is €245.   

8.      What is the average attorney’s fee of the formation of this company in local currency?

Fees vary from €800-2,000 depending on the circumstances including complexity of statute drafting.

9.      What are the basic publicity requirements of this company (filing of company changes, financial reports, etc.)

The Company Statute and changes thereto including identity of shareholders, directors and company secretary are publicly accessible. Financial statements are delivered to the Registrar of Companies and are available online. There are exemptions for small sized companies which may draw up abridged balance sheets as well as abridged profit and loss accounts.

 

10.   What are the main auditor requirements?

Financial statements need to be audited annually.