Malta

Overview

The republic of Malta is archipelago consisting of three inhabited islands Malta, Gozo and Comino. The islands are located in the Mediterranean Sea 100 km from the south Italy. Population is about 365 thousand people. Malta is the jurisdiction of civil law, however all modern legislation including the company law, tax and maritime law is established one the model of the relevant branches of laws of the United Kingdom. Currency – EUR. Official languages are English and Maltese, although Italian is also quite widespread. Business language is considered to be English.

Malta is EU member what makes the country attractive for businesses. Maltese companies are widely use for merchandising, services and holding activities. Theoretical income tax is 35%. However, due to numerous tax exempts effective income tax rate can be as low as 5% or even 0% (dividends, interest, royalties).

Additional information (part 1, in Russian)

Additional information (part 2, in Russian)

The additional information. Registration and formation of licences for the Internet casino and online games.

Company type

Private Limited Company (Ltd.)

Limited liability companies can be both private and public.


Directors

Quantity: minimum 1 for private company; minimum 2 for public company

Status: physical or legal bodies. According to Maltese legislation resident of any country can be director of Maltese company. However, the director’s country of residency can recognize Maltese company as its own tax resident, what can lead to double taxation. Therefore it is recommended appointing Maltese residents as directors.

Residency: residency criterion is a presence of a registered office in Malta.

Nominal directors: permitted.


Company shareholders

Quantity: minimum – 2.
Status: physical or legal bodies.
Residency: of any country.
Information about shareholders: public and stored in Maltese Registrar of companies. Owners-beneficiaries of a Maltese company can remain confidential, if they found company via nominal shareholder.
Nominal shareholders: permitted.

Company secretary

Quantity: minimum – 1.
Status: physical or legal bodies.
Residency: of any country.
Information about secretary: public and stored in Maltese Registrar of companies. Nominal secretary: permitted.


Share capital

Standard declared capital –  1,000 EUR.
Minimum paid-in capital – 250 EUR.

Submission of Annual Report

Annual report for the first year should be submitted after 12 months from the registration date.

Submission of Financial Statements

Financial statements including annual report should be submitted annually. Audit is required.

Taxation

Merchandizing and holdings companies are taxed with 35% rate. However, if shareholders of a Maltese company are not residents of Malta, tax withheld with dividend payments is returned when dividends are received, what makes effective tax rate for a merchandizing company to be 5% and 0% for holdings company.

Merchandizing activity constraints

A company can perform merchandizing activity only outside of Malta.

Agreements about elimination of double taxation

Agreements about elimination of double taxation are signed with more than 45 countries.

Term of company registration

12-17 working days; term of receipt of complete set of documents – 4 weeks.

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