Business in Malta
This island’s background and its beneficial business environment make Malta a perfect location for foreign direct investment. Today there are well over 200 foreign-owned manufacturing companies functioning in Malta. In today’s unbalanced and unsecure global economy and unsafe political situation Malta has managed to keep an economic and political stability, healthy industrial relations and competitive labor costs which have led to the success of hundreds of foreign companies for the last decades.
Starting a business in Malta has lots of benefits as Malta is one of the most wealthy countries in the European Union and categorized as an advanced economy by the International Monetary Fund and the World Bank.
Company formation in Malta is ruled by the Maltese Company Act which is basically based on the UK Companies Act.
The agency that is responsible for the growth and progress of Maltese business both locally and abroad is called Malta Enterprise. Malta Enterprise is well experienced in business set ups and expansions and has a good network to global markets. Investors interested in establishing a new business or expanding an existing one can turn to Malta Enterprise in order to get assisted regarding the business opportunities in the island.
The most regular business models in Malta are Sole Trader, Private Limited Liability Company, limited partnerships and general partnerships.
Some of the numerous benefits of starting business in Malta are the tax advantages that comes along with non resident shareholder of a Malta company (Trading). In many cases the shareholder of a Malta company which holds a participating interest in another non resident Company is eligible to full tax refund. A notable fact is that there are no withholding taxes, stamp burdens or exchange control boundaries on the sharing of profits from the Maltese Company to a non-resident shareholder. These profits can be expatriated with no restrictions.
Secondly the fees to incorporate a company Formation are low in comparison to competitive markets in the EU.
The government offers favorable conditions to set up a company in the financial or gaming industry.
In order to follow the right procedure for company formation the best thing you can do is to consult a lawyer that will help you with the opening a company in Malta very easy and very fast. The lawyer will help you firstly to reserve a company name which is made at the Maltese Commercial Register, submit the draft, the memorandum and articles of association. After that you’ll have to deposit the minimum share capital which differs depending on the type of company you have applied for, register your company with the Trade Register and apply for a trade license. Once above is accomplished the next step is to register for VAT in order to get your tax identification number. Finally you need to open a corporate bank account.
Our business directory in Malta offer a good variety of lawyers and business consultants that are specialized in business formations, corporate and banking law
Business First is Malta Enterprise’s point of single contact for businesses. A number of service agreements with various public entities, makes it possible for start-ups and established businesses alike to apply for various administrative services from one location.
* Official Statistics drawn from NSO Publication - Malta in Figures 2011
The Maltese Islands – At A Glance
Maltese and English (both official)
230 Volts, 50Hz. UK-style three pin square plugs