07 Jun Opening and setting a Business in Malta
It is quite simple to open a business in Malta considering there are only a few steps and there are no special permits or licenses required to open a business in Malta. But for businesses in certain sectors, some special licences are required. These sectors are insurance, financial, medical and pharmaceutical.
Why invest in Malta?
Malta is a small island and it is known for its beauty. Malta has a Mediterranean weather and it is usually sunny so it’s an ideal holiday destination. It is mostly known with the tourists for its amazing beaches and the inexpensive lifestyle.
Apart from the beauty of this small island, Malta has a lot of incentives both for foreign and local investors due to its low resources. Being in the European Union (EU), also has its advantages.
There are more advantages that attract investors to this beautiful island, such as, the short period of time for registration process when opening a business. It usually takes one or one and a half months for the process to be done.
When opening and setting a business in Malta.
Before opening a business in Malta certain factors need to be decided from the owner/s of the business. Such as owner/s of the business, location, type of business etc. These will be all asked when filling the form of Memorandum and Articles of Associations.
The easiest and advantageous business structures in Malta are Limited Liability companies and Maltese holding companies. It is because of the low maintenance costs and efficient taxation system – especially for foreigners who open a business in Malta. For example, the rate of effective tax to shareholders of holding companies is zero (0), as when calculating the dividend, the shareholder may offset any company tax that the company paid on its profits. The effective rate of tax for shareholders in an “operational” company after offset is only 4.16%.
When opening a business in Malta, foreigners should know that foreign citizens are not required to come to Malta for the incorporation procedure. They can assign someone and give them the Power of Attorney for the process.
Steps For Opening a Business In Malta
- A name – This needs to be original and depends on the structure type of the company.
- Memorandum and articles of associations – a legal document prepared in the formation and registration process of a company.
- The memorandum of association is the document that sets up the company and the articles of association set out how the company is run, governed and owned.
- Deposit the minimum share capital – The minimum share capital depends on the type of company/business.
- Give the necessary documents to the trade register.
- Apply for a trade licence.
- VAT number – A Value Added Tax number is a unique number for VAT purposes.
- Corporate bank account – A bank account in the name of your business.
Malta offers a lot of corporate services which help you take the easiest way to open and set up a business in Malta. ATPC can help you figure out all the questions you need to know before opening a business and guide you step by step. They will take care of all your documents and will fasten up the time for registration as much as possible for you to open up a business in Malta!
ATPC is a network of professionals that helps companies and individuals to achieve their goals. We have experts in many fields: finance, law & legislations, bookkeeping, accounting, etc.
Feel free to contact us if you need any help or support for you and your business.
Malta: (+356) 2713 4281
Italy: (+39) 39279 82389