Possible Uses
of ITCs
An ITC is a very effective international
tax-planning vehicle.
It can be adopted to:
perform
e-commerce
operations;
perform
licensed
i-gaming activities;
receive
commission income
receive
management or operational fees
hold patents,
copyrights, franchises & other intangible rights
perform
re-invoicing operations.
Objects
The shares of a Maltese ITC must be
subscribed to by at least one non-resident person such as yourself (or
company). Its objects must be limited to activities or trading interests
outside Malta. Thus,
ITCs may hold any type of asset, movable or
immovable, not situated in Malta.
An ITC may carry on trading activities outside Malta without restrictions
except for banking, insurance and financial investment services for which
the Company will require a specific license. An ITC may also export
Maltese products.
Confidentiality
Confidentiality is governed by the
Professional Secrecy Act which has established a high common standard of
confidentiality for all professional practitioners. Those who violate
professional secrecy may be prosecuted under Section 27 of the Criminal
Code and on conviction may be liable to a maximum fine of LM20,000 and/or
a 2 year prison sentence.
Shares may also be held on behalf of an
undisclosed beneficiary by CredalTrust Management Ltd, our trustee company
licensed by the Malta Financial Services Authority.
International Trading Company (Index)
Taxation (4.1%)
.
