SHANDA CONSULT

Rep. of Malta

Malta has always played a key role in commercial relations between Europe and North Africa. Malta has always been strongly linked to Europe, partly also being a part of the Sicily Kingdom. Since the end of the British colony rule, Malta emerged to a well-connected hub for business and production in the Mediterranean, with maritime and shipyard business always being in the focus.

Since its EU accession in 2004, under the Government of Prime Minister Lawrence Gonzi, Malta became a preferred jurisdiction for international businesses and industry, providing a professional business environment, business-friendly fiscal conditions, and a skilled labour force. Malta is home to the Vodafone data centre serving the entire Mediterranean region and South Europe, to Playmobil, which produces about 80 % of its products in Malta, and BMW Malta Finance Ltd, which provides car purchase finance facilities to car sellers of various brands in the EU, just to name a few.

Malta is the strictest EU country in terms of implementation of EUR Directives, which leads to the high reputation enjoyed by Maltese finance companies.

Shanda Consult is proud to be closely affiliated with the Gonzi & Associates, the law firm headed by the son of Lawrence Gonzi. The two firms, Gonzi & Ass. and Shanda Consult, complete each other perfectly and are thus able to provide a wide scope of consulting and professional services.

Background

Malta is located in the centre of the Mediterranean sea and consists of three main islands: Malta, Gozo and Comino. Its capital city is Valetta. With its approximately 403.000 inhabitants Malta constitutes one of the states worldwide with the highest population density. Maltese is a semitic language, around 50% of its vocabulary are of European origin. Malta has been independent from the United Kingdom since 1964. It is  a member state of the EU since 2004.

 

General Information

Legal system
Common Law

Economy
Most significant  source of income for Malta is the tourism sector.

Currency
Euro

Language
Maltese and English are official languages.

Time zones
GMT + 1 hrs

 

Information on Malta Companies

Malta Company forms
Maltese International Trading Company
Maltese International Holding Company

Malta Company Law
Companies Act 1995. Company law, maritime law as well as tax law are modelled after British law.

Minimum capital requirement
Private Company: €1.165,00 out of which 20 % need to be paid in.
Public Company: €46.590,00, out of which 25 % need to be paid in.

Restrictions
Maltese companies may not offer financial services unless a respective permission is given. ITC and IHC may not pursue business activities within Malta.  

Taxation
The general corporate tax rate in Malta is 35%. However, companies with beneficial owners being not tax-resident in Malta do receive, upon application and under certain circumstances, a tax return of generally 6/7 of the corporate tax paid, resulting in an effective tax rate of 5 %. Dividend income is not taxable in Malta.
Kindly contact us for more details.

Double Taxation Treaties
Malta has signed Double Taxation Treaties with 36 states.

Annual tax filing
yes.

Annual Audit 
Yes.

Annual License Fees
No.

Registered Company address and agent for incorporation
Registered company address must be in Malta. Agents for the incorporation are not necessary.

Company secretary
At least one natural person who is resident in Malta must be appointed as company secretary.

Malta Company Directors
At least one. Nationality and country of residence are of no importance. Natural or legal person.

Malta Company Shareholders
At least two in cases where shareholders are natural persons. At least one in cases where the shareholder is a legal person.

Confidentiality
Confidentiality can be achieved through the appointment of trustees.

Disclosure of the ultimate beneficial owner
Confidentiality can be achieved through the appointment of trustees. 

Directors publicly known 
Yes. Anonymity can be achieved through the appointment of a company as trustee.

Shareholders publicly known 
Yes.

Malta Company Bearer Shares
No.

Control of foreign currency
Not given.

Name of the company
Name can derive from any language with Latin characters.

Name restrictions
Terms such as „Royal“, „Imperial“, „Bank“, „Insurance“, „Trust“, as well as offensive and obscene names, names which suggest an involvement with the government, are not permitted.   

Name affixes
Limited or Ltd.

Language of Company documents
English

Duration of incorporation
5 working days.

Malta Shelf companies
Very rarely available.