Malta

General Information on Malta
Maltese Company

General Information on Malta:

About Malta:

Right in the centre of the Mediterranean sea between Southern Europe and North Africa lies Malta, which consists of the islands of Malta, Gozo and Comino. The capital of Malta is Valetta. Approximately 320,000 people live in the Maltese islands and Malta is considered as one of the most densely populated places in the world. The language of the people in Malta is Semitic, with 50% of the words being European. English is the second official language. Malta gained its independece from the British in 1964 and enjoys political, economic and social stability. It is a member of the United Nations, the Council of Europe and the Commonwealth.

Legal system in Malta:

Civil Law.

Infrastructure in Malta:

Malta's marinas are amongst the most popular, attractive and safe marinas for yachts and ships.

Maltese Economy:

Malta's main income is mainly derived from its tourism.

Currency in Malta:

Maltese Lira (Lm).

Language in Malta:

Maltese and English are the official languages.

Time Zone:

(GMT +01:00)

Maltese company:

Types of a Maltese company:

Maltese International Trading Company, Maltese International Holding Company.

Company Law in Malta:

Companies Act 1995. All company, tax and maritime laws in Malta are modelled on their UK counterparts.

Capital requirement of a Maltese company:

Minimum issued share capital - Lm500, 20% paid up.
Minimum authorized share capital - Lm500.
Share capital may be denominated in any currency.
Classes of shares: different kind of shares.

Restrictions on activity of a Maltese company:

Not allowed to undertake business in financial services, unless special consent or license is given. Maltese ITCs and Maltese IHCs should trade outside Malta. An ITC is a normal offshore company and its trading activities are carried out from Malta, but not in Malta.

Taxation of a Maltese company:

Yes, but credits/refunds are given upon receipt of dividents, resulting in 4.17% tax for ITCs and 0% for IHCs.
ITCs and IHCs can request their tax status in advance and guarantee the tax position of the company for 5 years even if the tax legislation may change during that period.

Double Tax Treaties between Malta & other countries:

Yes. Malta has 36 double-tax agreements.

Annual Returns of a Maltese company:

Yes.
Annual Return filing fee: Lm50 - Lm250 depending on share capital.

Annual License Fee in a Maltese company:

NIL.

Annual Financial Reporting of a Maltese company:

Yes, annual accounts must be submitted.

Registered Office & Registered Agent in Malta:

A Registered Office must be maintained in Malta.

Company Secretary in a Maltese company:

Yes, must be a physical person and must be resident of Malta.

Directors in a Maltese company:

Minimum of one. Can be of any nationality and residence and can be a physical person or a corporate entity.

Shareholders in a Maltese company:

Minimum of two, or one in cases where shareholder is a company.

Disclosure of Beneficial Ownership in a Maltese company:

No, if a licensed nominee company is used.

Disclosure of shareholders in a Maltese company:

Yes.

Disclosure of directors in a Maltese company:

Yes.

Bearer shares in a Maltese company:

No.

Exchange controls in a Maltese company:

None

Language of Name of a Maltese company:

Can be incorporated in Latin Alphabet.

Name restrictions of a Maltese company:

Any name which the Registrar considers undesirable, obscene or offensive and names such as royal or imperial, or which suggests the patronage of Malta government.