Establishing your business in Malta can be a very exciting prospect. Not only is it a great place to do business, but also a place that people can fall in love with easily. This is because of its beautiful scenery, gorgeous weather and local people. But, what needs to be done to register a Malta company? There are certain decisions that have to be made before you complete this process. To start with, you need to decide if you want to be self-employed or have limited liability status.
If you opt for a limited liability company, you need to draft Articles and Memorandum of Association and register these with the Registry of Companies. Next, you will have to deposit the minimum share capital required, which is €1,165, but you only need 20% of this amount in your bank account. Now, your documents have to be sent to the Financial Services Authority, which includes a company registration form, share capital receipt and the Memorandum and Articles of Association. A registration fee also has to be paid, but the process doesn’t take more than a few days.
To register a Malta company, a license is also needed, which only requires filling of a simple form and payment of a licensing fee. You are now ready to get a tax identification number for which an online form is available. It is best to get professional assistance here because you will also have to register for VAT and a PE number. Now referred to as Jobs Plus, you have to report to the Employment and Training Centre, if you plan on hiring any employees. Lastly, you need to register for data protection if you will be collecting sensitive and personal information from your clients. Your company will then be ready to start operating in Malta.