GTG can provide assistance with incorporating companies in Malta and with adapting the corporate structure depending on the business activity to be taken up. The most popular type of company that can be incorporated in Malta is the limited liability company. A limited liability company can be either a private (“ltd”) or a public company (“plc”). The main differences between the two are as follows:
|Minimum Shareholders|| Two (2)
Can also be one (1) if private exempt conditions are satisfied
|Maximum Shareholders||50||No limit|
|Minimum Share Capital||Not less than € 1,164.69||Not less than € 46,587.47|
|Paid up||Not less than 20 %||Not less than 25 %|
|Can issue shares to public?||No||Yes|
Benefits under Maltese Law
The Maltese limited liability company is a reliable and efficient vehicle for conducting business. This is mainly due to the business incentives around which Maltese corporate legislation is built. Foremost amongst these are its significant tax benefits. In fact, while all companies resident in Malta are subject to income tax at the rate of 35% on company profits, this is subject to a full imputation tax system wherein tax paid by a company in Malta is, on the distribution of dividends, imputed to the shareholder as a tax credit against the shareholders’ tax liability. This means that, upon distribution of dividends, a shareholder is entitled to a total or partial refund of any advance-tax levied on the distributing company. As a result, Malta is a popular forum from where foreign investors and multinational companies hold and manage their business.
At GTG our clients can rely on a rapid and efficient response to their needs. In particular, we provide assistance in the following areas:
GTG provides advice on the most efficient corporate structure suitable for your business and operational needs. To this regard we draft the Memorandum and Articles of Association which is the principal corporate document regulating the company. Furthermore, we are able to assist in establishing corporate governance principles for insertion in a shareholders’ agreement.
Establishing a Registered Office
Every company must have a registered office in Malta. As part of our back-office operations we are able to provide an address in Malta to be used as registered office in addition to an efficient mail-forwarding service.
Opening Bank Accounts
Although there is no requirement for a company to keep and maintain a bank account in Malta, we strongly advise that companies incorporated in Malta should open a local bank account. GTG has a long-standing positive relationship with the main Maltese banks and can assist clients in this regard and liaise directly with the banks.
Accounts and Audit
The firm’s financial arm is able to assist in satisfying all the statutory accounting and audit obligations.
Company Secretary Duties
The Company Secretary is responsible for the proper keeping of the company’s records, including the minutes of Board Meetings as well as of Shareholders’ Meetings, and must see to the proper upkeep of the register of shareholders and debenture holders as well as notify the Registrar of all the changes which take place in the set-up of the company.
Our legal and financial teams ensure that all the clients’ requirements are met in a professional and efficient manner.
Residence Permits & Tax Incentive Schemes
GTG may also assist clients establishing companies in Malta, as well as their employees to obtain a Maltese residence permit in order to be able to reside in Malta. Individuals may also be able benefit from a number residence schemes offering beneficial rates of taxation.