Salient Features of a Maltese Company
| Stamp Duty / Capital Gains | Blanket exemption to non residents | Income tax rate | Standard tax rate is 35% at corporate level. However upon a final distribution of dividends, the immediate shareholders are able to obtain a number of tax refunds, the default one being 6/7ths of the aforesaid 35% – thereby leading to an effective ultimate tax leakage of just 5% |
| International Business | Yes – no restrictions |
| Official language / language of documents | English |
| Operational objects | Widest possible – with a focus on main trading activity |
| Minimum paid-up capital | EUR 1165 (usually rounded up to EUR 1200) for ease of division of which a minimum 20% must be paid up – EUR 233 |
| Recommended share capital | No limitation – minimum authorized is EUR 1,165 (rounded up to EUR 1,200) for private companies |
| Government license fee | Minimum registry fees for a limited liability company with an authorized share capital of less than EUR 1,500 is a one time fee of EUR 245 |
| Share Capital | Cash (any currency) or in kind. Non cash considerations must be preceded by an audior’s report – to ascertain the correct and true value of the consideration in kind |
| Bearer shares | Not Permissible |
| Minimum number of directors | One for private companies and two for public companies |
| Minimum number of Shareholders | One |
| Non-resident directors | Permissible |
| Corporate directors | Permissible |
| Resident Directors | Non Obligatory but recommended for tax purposes – effective management and control and substance requirements to be exercised in and from Malta |
| Register of Directors | Held at the registered address of the Company |
| Register of Members | Held at the registered address of the Company |
| Register of Members filed for public record | Yes |
| Disclosure of beneficial owners to Registrar | No |
| Disclosure of beneficial owners | Yes – absolute disclosure must be provided and identification of the beneficiaries ascertained and ascertainable at all times. However, this is mitigated by strictest confidentiality rules |
| Holding of Annual General Meeting | Obligatory – within 18 months from date of incorporation and 15 months thereinafter |
| Convention of Meetings of Directors / Members | In Malta – but possible via teleconference link (if provided for in the Memorandum and Articles of Association of the Company) or by proxy. |
| Proxy | Yes |
| Corporate Minutes and Resolutions | Held at the registered address of the Company |
| Corporate Seal | No |
| Keeping of accounts | Required – typically held on file for at least 10 years |
| Auditing of accounts | Mandatory |
| Filing of accounts | Mandatory |
| Access to double-tax avoidance treaties | Accessible to all resident body corporates – includes companies and partnerships whose capital are divided into shares |
| Foreign exchange controls | No |
| Redomiciliation | Yes, both in and out of Malta |
| Incorporation time | 24-48 hours |