Malta, with its favorable business environment and strategic location, presents an appealing option for non-residents looking to start a company. While the process may involve certain requirements and considerations, it is entirely possible for non-residents to establish a company in Malta. In this article, we will outline the key steps and considerations involved in starting a company in Malta as a non-resident.
- Understand the Legal and Regulatory Framework:
- Familiarize yourself with Malta’s legal and regulatory framework pertaining to company formation.
- Gain an understanding of the Companies Act, tax regulations, and other relevant legislation.
- Consider seeking professional advice from lawyers or business consultants specialized in Maltese company law.
- Choose the Right Company Structure:
- Select the appropriate company structure based on your business goals and requirements.
- The most common structure for non-residents is a private limited liability company (Ltd).
- Understand the specific features, regulations, and obligations associated with your chosen company structure.
- Engage a Company Formation Agent:
- Consider engaging a reputable company formation agent in Malta.
- A company formation agent can provide guidance, handle administrative procedures, and ensure compliance with local regulations.
- They can assist in preparing the necessary documentation and liaising with relevant authorities on your behalf.
- Appoint a Local Director:
- As a non-resident, you are required to appoint a local director who is a resident of Malta.
- The local director will represent the company and fulfill certain legal obligations.
- You can engage a professional director service or seek a trusted individual who meets the residency requirement.
- Obtain the Necessary Permits:
- Non-residents may need to obtain certain permits or visas to establish a company in Malta.
- Depending on your citizenship and intended business activities, you may require a work permit, residence permit, or specific licenses.
- Consult with the Malta Residence and Visa Agency (MRVA) or relevant authorities to determine the permits required for your specific circumstances.
- Prepare and Submit the Required Documentation:
- Gather the necessary documentation for company formation, which typically includes:
- Memorandum and Articles of Association
- Identification documents of directors, shareholders, and beneficial owners
- Proof of share capital
- Confirmation of registered office address in Malta
- Bank account details
- Declaration of compliance
- Gather the necessary documentation for company formation, which typically includes:
- Register the Company:
- Register the company with the Malta Business Registry.
- Submit the required documentation and pay the applicable fees.
- The registration process involves verifying the submitted documents and obtaining a Certificate of Registration.
- Fulfill Tax and Financial Obligations:
- Register the company for tax purposes with the Maltese tax authorities.
- Understand the tax obligations, including corporate tax filing and payment deadlines.
- Consider seeking the advice of a tax consultant to ensure proper tax planning and compliance.
- Open a Bank Account:
- Open a bank account in Malta for the company.
- Contact local banks to compare services, requirements, and fees.
- Provide the necessary documentation, including the Certificate of Registration, identification documents, and proof of address.
- Seek Ongoing Compliance:
- Understand and fulfill ongoing compliance requirements, such as annual financial reporting and tax filings.
- Maintain proper accounting records and comply with accounting standards.
- Consider engaging the services of an accountant or accounting firm to ensure compliance with financial and regulatory obligations.
Starting a company in Malta as a non-resident requires careful planning, understanding of local regulations, and adherence to legal requirements. Seeking professional advice, engaging a company formation agent, and staying updated with the latest legal developments will help facilitate the process and ensure compliance.
