Opening a company in Malta is a streamlined process facilitated by the country’s robust business registration laws and attractive tax system within the European Union. Many entrepreneurs are drawn to establishing a company in Malta, particularly in sectors like financial services and online gaming, due to favorable government conditions. However, Malta appeals to a range of industries, boasting a skilled workforce and competitive labor costs, positioning it as a top choice for company formation in Europe.
Choosing a Business Name
The first step in opening a company in Malta is selecting a unique business name, which must be reserved with the Companies Register for a fee of 10 euros. It’s advisable to have several name options in case your first choice is unavailable. Once approved, you’ll receive a certificate authorizing the use of the chosen name.
Required Documents for Opening a Company in Malta
To open a company in Malta, you’ll need to prepare and submit various documents to the Malta Business Registry (MBR), depending on the chosen business entity:
- Memorandum and Articles of Association outlining the company’s purpose and rules.
- Registration Form specific to your business type.
- Certificate of Name Reservation confirming your chosen business name’s availability.
- Identification and address verification for directors, shareholders, and company secretary.
- Shareholders’ Agreement if applicable.
- Registered Office Address in Malta.
- Details of Directors and Secretary, including names, addresses, and consents.
- Share Capital Information detailing the number, value, and allocation of shares.
- Statutory Declaration affirming compliance with legal requirements.
- Payment of Registration Fees to the Registrar of Companies.
Getting the Certificate of Registration in Malta
After submitting your application and required documents to the Registrar of Companies, and upon meeting all legal requirements, you’ll receive a Certificate of Registration. It’s essential to maintain compliance with Maltese laws to uphold your company’s status, and legal or business professionals can provide valuable guidance throughout this process.
Registering for VAT in Malta
Once your company is registered and you have the Certificate of Registration, you must register for VAT in Malta. The standard VAT rate is 18%, applicable to trading entities. Registration involves submitting essential documents like application forms, authorization letters, and identification documents.
Having a Registered Address in Malta
A legal requirement for operating a business in Malta is having a registered address registered with the Companies Register. This address is used for official notifications and can also serve as a business address for clients and partners. Our law firm in Malta offers virtual office services to assist in quickly establishing a legal address for your company.
Opening a Corporate Bank Account in Malta
Before finalizing your business registration, opening a corporate bank account in Malta is necessary to deposit the required share capital. Many local banks offer expedited services, and our legal team can guide you in choosing the right bank, speeding up the registration process.
Steps to Opening a Company in Malta in 2024
Opening a company in Malta involves straightforward steps:
- Reserve a unique business name with the Companies Register.
- Draft and notarize the memorandum and articles of association.
- Deposit the minimum share capital based on your company type.
- Register the company with the Companies Register, submitting required documents.
- Apply for any necessary trade licenses.
- Register for VAT and obtain a tax identification number.
- Open a corporate bank account for financial transactions.
Costs and Compliance
The cost of business licenses in Malta varies by company type, such as 360 euros for a limited liability company and 100 euros for a sole trader. Detailed information on fees and licenses can be obtained from our law firm in Malta, ensuring full compliance with local regulations.
Hiring Employees and Legal Compliance
When hiring employees, companies must register with the Employment Training Corporation and obtain necessary EORI numbers. Our legal experts provide comprehensive support throughout the company formation process, ensuring smooth compliance with all legal requirements in Malta.
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