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Incorporation company in Malta

The cost for incorporating the Maltese company will be € 2000* this includes the following:

- Checking availability for three names of your choice
- Drafting the Articles of Incorporation and Memorandum
- Filing with the Malta Financial Services Authority
- Payment of MFSA taxes**
- Registration of shareholders and directors
- Notary fees
- Incorporation fee

*Excluding a one time registration fee of about €240

*For complex shareholding structures or for companies to be owned by more than two individuals, additional fees may apply

* Includes one copy of the Memorandum and Articles and certificate of incorporation. Additional copies will be charged separately

To this you have to add €240 for the minimum share capital allowable. This is not however a cost but deposited into a bank account and can later be withdrawn. You can of course deposit a larger share capital.

Please note that every Maltese company is required by law to appoint a company secretary and director.

The director can be a corporate entity or an individual, the company secretary has to be an individual.

We can offer the service of company secretary for a fee of €800 per annum.  We do also offer the services or company director but this is considered one a case by case basis.

The Director and company secretary can be the same person (if individual). You may of course appoint someone of your own choice or act in one or both of these capacities yourself. 

Please note that a company can be a single member company (ie: it can have only shareholder who can also be director and company secretary)  

There is no requirement for a physical presence in Malta both during the incorporation stage and during the year. In fact Maltese companies can be opened and run indefinitely without the need for the directors or shareholders to ever set foot in Malta

Every company needs to have a Maltese registered address, we do also offer this service at a fee €800 per annum unless you have an address in Malta yourself which you can use. 

We can also assist you with finding a suitable bank for your company. Bank account opening these days has become one of the biggest challenges facing businesses especially when the shareholders / directors are not resident in the same country as the country of registration of their company. We have throughout the years made a large number of contacts and working relationships with a large number of banks and money institutions both in Malta and in various other countries across the globe. We are therefore in a good position to offer banking solutions to our clients.

However clients have to keep in mind that this is no longer a buyer’s market and sometimes one’s choice is limited. This is especially true for certain sectors such as commodities, e-gaming, and crypto currency sectors amongst others. While we do have solutions for these sectors one has to understand that the choice is limited and that there also exist other more innovative solutions to traditional banking options.

Because of the nature and difficulty with bank account opening, our fees will vary depending on the particular bank or money institution that we find which will accept to work with our client. The fees vary depending on the difficulty and volume of documentation requested by different banks together with the varying account opening fees which almost all banks charge these days. Therefore, we will only be able to give you a quote once we have identified the appropriate bank, and this in return can only be done once we know more about the company.  

The cost for applying for a VAT number will be €450, if this is needed.  

We can also have your shares held under nominee to ensure complete confidentiality. The cost for this will be €990 per annum per shareholder.

Every year an annual return will have to be prepared which is a sort of directors and members list and sent to the Regulator together with an annual payment. The payment starts from a minimum of €250 depending on the size of the authorised share capital. There will also be a cost of €350 from our side for taking care of this.

Every company has to prepare a tax return every year and submit it electronically even if it has not traded and no profits and tax are due. Our fee for this service is €450

More over if a company makes a profit and pays the tax due, it can then submit a refund application in order to claim a 6/7 refund on the tax suffered (ie: 6/7 refund on 35% tax ie: a tax refund of 30% leaving a net tax of 5%). Our fee for preparation of this application is €450

The incorporation process is quite straightforward and involves the preparation of the Memorandum and articles and the €350 in a local bank as minimum share capital.  The process takes about a week to have the company incorporated. You do not need to be physically present at any stage of the process 

Following the incorporation of the company we would be able to assist with the accounting services as well. For reference purposes, bookkeeping (up to 100 invoices / transactions, including expenses) can be ensured starting from approx. €100. Likewise, assistance for any subsequent legal matters can be provided by our associate lawyers in Malta once the company has been incorporated.

Every company in Malta needs to be audited. The audit has to take place within 18 months after the year end . The cost of this will vary greatly depending on the size of the company, the complexity of the audit and the inherent nature of the business activity. We can discuss this with the client and give an approximate quote once we have an understanding of the business. For non trading companies or holding companies with no assets we usually charge the lowest possible Audit fee which is around  €850 but this will depend on a case to case basis. The audit is only due by October of the following year in which the company is incorporated .

Any other work is charged on an hourly basis of €45 per hour for work carried out by staff and €95 per hour for work and consultancy given at partner level.

Please note all fees are net of 18* VAT except for Annual return fees and share capital

To summarize I have made a list of the fees and services below:

ONE TIME FEES

 

  Services

EUR

Company Incorporation fees (Excluding Government fees and tax registration)

 2000*

Minimum Share Capital (This is not an expense)

  240

Application for a VAT number (optional)

  450

Assistance with bank account opening (optional)

  700

Excluding a one time registration fee of about €130 (depending on size of authorised share capital)

*For complex shareholding structures or for companies to be owned by more than two individuals,    additional fees may apply

* Includes one copy of the Memorandum and Articles and certificate of incorporation. Additional copies will be charged separately

ANNUAL OBLIGATORY FEES

 

 Sevices

  EUR

Annual Registration fees

   100

Use of our registered address

   700

Minimum Audit fee (for  non trading companies)- Indicative fee only – Final fee is on a case by case basis

   800

Tax compliance

   450

Book keeping

Hourly rate

OTHER OPTIONAL ANNUAL FEES

 

  Services

EUR

Nominee Shareholding (per shareholder)

  990

Nominee Director (Note )

On case by case basis

Tax Refund application

  450

Nominee Company Secretary

  650

 

Note:  Due to ever increasing legal obligations related to this service we will only offer this service in exceptional cases


In order to proceed we will need the following documentation from the shareholders and directors of the company:

  1. 1. Notarised passport copies 
  2. 2. Recent utility bill (or other proof of residency) not older than 3 months showing the residential address of the person in question.

3.Professional reference letter from an accountant lawyer or notary stating that he has known the person for at least three years and that the person in question is a person of good standing

  1. 1. Three months of recent  bank statements in the individual’s own name.( Bank balances can be blotted out)

or

  1. 1. Bank reference letter
  2. 2. CV

Note : the actual documents needed might vary depending on a number of factors such as the ownership structure and  the perceived inherent risk profile of the company . Also if client is unable to provide certain documents , other alternatives might be possible

When we do not meet shareholders personally we will need to hold a short video skype call in order to identify the applicant/s for business .This will be needed for all shareholders with 20% shareholding or more.

If the shareholder of the Maltese company is also a  company we will need the above on the shareholders and directors of that company plus the following on the foreign holding company ;

  1. 1. Copy of Memorandum and articles 
  2. 2. Certificate of good standing 
  3. 3. List of shareholders and directors  

All documents should be in English or translated by a professional translator.

If you would like to let us know which services you wish to avail yourself of we can prepare a more precise quote. Please write to veritaslaw2009@gmail.com.

 

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