Small but mighty Malta
18 July 2019
In recent years, Malta has transformed, developing its financial services, marine and aviation, gaming, fund administration and gambling sectors in addition to the longstanding tourism industry.
Strengthening and expanding Malta’s economy was a savvy move from the government, and one that has paid off in the long-term: the future of the country is bright.
Today, Malta is a vibrant community of nearly 500,000, most of whom speak English. It is a member of the European Union and adopted the Euro as its currency in 2008. Malta’s transformation has been quick, but it hasn’t happened overnight, and The Malta Financial Services Authority were instrumental in bringing international interest to the island. Today, the country is an attractive business hub.
Malta is an appealing international financial centre, with businesses attracted to the island by a cost-effective environment and an advantageous tax regime.
Incorporating a Maltese company
Incorporating a Maltese company necessitates a minimum share capital of EUR 1,165 (although it is obligatory to pay just 20% of this amount at the time of incorporation, it is generally typical to pay the amount in full). A one-time registration fee of EUR 240 is payable to the Malta Business Registry at the same time, but otherwise incorporation is fast and straightforward, and when documentation is in order, can take as little as two to three business days.
A Maltese private limited company is generally required to have a minimum of two shareholders, although in some cases a single shareholder is acceptable (single member company).
Any type of Maltese company is obliged to have a minimum of one Company Secretary who is appointed by the Director(s). This can be both – an individual or a body corporate. Maltese companies must also have at least one Director as well as a registered office. It is also necessary to undertake appropriate accounting practices, and an annual audit is required b y Maltese law.
How ZEDRA can help
There are a multitude of reasons why clients want to set up structures in Malta. These include conducting international trade, managing intellectual property, holding and managing yachts, shipping and property holding.
ZEDRA Malta provides a full suite of corporate services, structuring consultancy and advisory services and yacht and aircraft related structures, crewing solutions and crewing payroll. We pride ourselves to work closely with our clients to ensure that any relevant structures are set up to fully comply with Maltese law in order to benefit from the advantages the country offers, as well as safeguarding that entities are compliant with regards to substance requirements and local regulations.