Malta Private Limited Liability Company

Malta Private Limited Liability Company

SYNOPSIS

Malta is situated in the Mediterranean Sea south of Sicily, Italy. The Total area is 316 sq km. The capital and largest city is Valletta. Malta’s population is approximately 415,000. Official languages are Maltese and English but Italian is also widely spoken.

Malta is an independent republic, having gained independence from the United Kingdom in 1964. Government is democratically elected parliament with elections being held every five years. Malta is a member of Commonwealth of Nations and has become a full member of the European Union since the 1st of May 2004. The legal system is based of the Napoleonic code, but British Law has had a strong influence particularly in fiscal and commercial law.

Currently Malta has Double Tax Treaties with more than 48 countries.

Highlights of Maltese Companies:

Limited Liability Companies registered in Malta in terms of the Malta Companies Act (Chapter 386 of the Laws of Malta) are normally, considered as the most common forms of businesses registered in Malta. Such Companies may have the status of private or public Companies. Companies may be registered as “trading” Companies or as “holding” Companies and may be used for domestic or international purpose.

Maltese companies are particularly tax-efficient corporate vehicles and can be (and have been) advantageously utilized in a virtually unlimited variety of :

  1. Trading, commercial and service activities in any sector; particularly in the provision of commercial; management, technical and other services, group treasury operations and the international purchase and sale of goods; and/or
  2. Holding activities, including the holding of shares in other companies, intellectual property rights, loan rights, bank accounts and other assets, whether tangible or intangible, moveable or immovable

Characteristics of a Malta Private Limited Liability Company:

  1. Shareholders:
    Single member (one shareholder) companies are now also possible in setting up a Malta Private Limited Liability Company and such member may be an Individual or a Corporation. Bearer shares are not permitted.
    The minimum paid up share capital for a Malta Private Limited Liability Company of the foreign currency must be the equivalent to EUR 1,164.00 of which a minimum of 20% must be paid-up. Due to the variance of currency conversion from time to time, it is recommended that regardless of the currency chosen, it may be stated in round figures.
  2. Directors:
    A minimum of one director is required and corporate directors are permitted in a Malta Private Limited Liability Company. Director can be non-resident. Details of the directors appear on the public register.
  3. Officers/Secretary:
    A company secretary is required to be appointed to set up a Malta Private Limited Liability Company and the said secretary must be an individual. The Director can also be appointed as Secretary; however, if the Secretary and Director is the same person, an additional Director must be appointed.
  4. Restrictions on Name and Activity:
    Names of a Malta Private Limited Liability Company must end with the word “limited”. There are few restrictions on the words, which may be included within a company name but those indicating a connection with the banking or insurance industries can only be used when an appropriate license has been obtained.
  5. Local Requirements:
    As a matter of Maltese company law, every Malta Private Limited Liability Company must maintain a registered office address in Malta and must also appoint a Malta resident as registered agent. We would generally provide these services as part of the domiciliary service fee.
  6. Timescale:
    Incorporation of Malta Private Limited Liability Company can be achieved within 1 week.
  7. Annual Reporting:
    Malta Private Limited Liability Company must file an annual return and must also prepare audited accounts on an annual basis. The accounts must be audited by a Maltese auditor and these accounts must be prepared in accordance to the International Financial Reporting Standards (IFRS) or GAPSE. Failure to submit such annual return and audited accounts would subject the Company to a penalty imposed by the Malta Registry of Companies on a daily basis.
  8. Taxation of a Malta Private Limited Liability:
    Malta Private Limited Liability Company are considered to be ordinarily resident in Malta and are consequently subject to tax on their world-wide income.
    Income Tax is the only tax imposed on the profits of the companies. The standard rate of income tax is 35% of taxable income, which is the net profit (accounting profits) as reported in the companies’ audited financial statements, subject to certain adjustments. All expenses incurred wholly and exclusively in the production of the income are considered deductible.
    Upon distribution of dividends by a Malta Private Limited Liability in favour of its shareholder/s the recipient shareholder/s would be entitled to claim a refund of six-sevenths (6/7) or five-sevenths (5/7) of the Malta tax suffered at the level of the Malta company on its said profits. However, should a Malta company have claimed relief for double taxation in respect of profits allocated to its Foreign Income Account and out of which dividends were distributed, its shareholder/s would only be entitled to a refund of two-thirds (2/3) of the Malta tax paid by the Malta company on the said profits.
  9. Secrecy:
    The identity of the beneficial owners of a Malta Private Limited Liability may remain confidential if a trustee company authorized by the Malta Financial Services Authority is engaged to act as shareholder on behalf of the underlying beneficial shareholders. This confidentiality is maintained as long as the company and its beneficial owners are not involved in any money laundering activity.

10. Company Renewal:

Renewal for Malta Private Limited Liability will fall on the anniversary date of incorporation. In case of late renewal, government and service charges shall be applicable.

Latest valid passport copy and recent utility bill for address proof of shareholder/director are required to be submitted at every renewal as a part of enhanced due diligence. If shareholder is a corporate entity, then latest certificate of incumbency and above stated docs of directors would be required.

11. Documents Required in Setting Up a Malta Private Limited Liability:

KYC Documents for individual Director/Shareholder:

  1. 2 Notarised copies of valid Passport
  2. Original Proof of address (dated less than 3 months)
  3. Original Bank reference (dated less than 3 months with satisfactory record clearly mentioned and also the time period the client has been dealing with the bank: minimum of 2 yrs)
  4. Detailed CV with signature
  5. Original Professional reference
  6. Original Police Conduct Certificate
  7. Duly Filled Fatca Form
  8. Notarized US Declaration (if US Person)

KYC for Corporate Director/Shareholder:

  1. Certificate of Incorporation
  2. Registered address and place of business
  3. Certificate of Current Standing if incorporated more than 1 year
  4. Register of Directors
  5. Register of Shareholders
  6. Memorandum & Articles of Association

All documents of the corporate entity must be certified by a Lawyer or Certified Public Accountant

Incorporation of a Malta Private Limited Liability begins from EUR 2,990/-

Global Business Services DMCC has helped many individuals and corporate entities to set up Malta Private Limited Liability. Our Company acts as a one stop solution for Malta Private Limited Liability incorporation services.

If you are looking for Malta Private Limited Liability set up, please get in touch with us for professional assistance.

Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal, tax or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions.

GBSOur Office
Organically grow the holistic world view of disruptive innovation via empowerment.
+971 4 4471803
OUR LOCATIONWhere to find us?
For company formation and company incorporation services please contact us at our mailing address:

Office No.12A-06,
13th floor HDS Tower,
Plot No. F2,
Jumeirah Lakes Towers,
Post Box 309074,
Dubai (U.A.E)

GET IN TOUCHGBS Social links
Taking seamless key performance indicators offline to maximise the long tail.
GBSOur Office
Organically grow the holistic world view of disruptive innovation via empowerment.
+971 4 4471803
OUR LOCATIONWhere to find us?
For company formation and company incorporation services please contact us at our mailing address:

Office No.12A-06,
13th floor HDS Tower,
Plot No. F2,
Jumeirah Lakes Towers,
Post Box 309074,
Dubai (U.A.E)

QUICK LINKSOur Services
GET IN TOUCHGBS Social links
Taking seamless key performance indicators offline to maximise the long tail.
AVANTAGEHeadquarters
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHAvantage Social links
Taking seamless key performance indicators offline to maximise the long tail.
AVANTAGEHeadquarters
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHAvantage Social links
Taking seamless key performance indicators offline to maximise the long tail.

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Copyright © 2020 Global Business Services.

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