Maltese International Companies

Features

1. Corporate Requirements

2. Disclosure & Reporting Requirements

3. Exemption from Exchange Control Regulations

4. Expatriate Employees

5. Bank Accounts

6. Documentation Required for Formation.

The basis statutory requirements for the formation of an ITC and its principal characteristics are as follows:

Corporate Requirements

Standard issued share capital

 Lm500 (approx. USD1500)
(in any foreign currency)

Minimum paid up share capital on incorporation:

20% (Lm100 - approx. USD300)*

Minimum number of Shareholders required:

One shareholder (if the company director is a natural person) or

Two shareholders (if the director is corporate).

(At least one non-resident shareholder)

Nominee Shareholders Permitted:

Yes

Minimum number of directors:

One. In certain cases, director may also act as company secretary.

Corporate directors permitted:

Yes

Local directors required:

No

Local meeting required?

No

Company secretary required?

Yes

Meetings:

At least one General Meeting each year, in addition to any other company meetings.

Local Registered office required:

Yes. We offer registered office services.

Malta Tax residence to benefit from Tax Treaty network:

Based on incorporation in Malta.

Exchange Control:

No exchange control regulations - may conduct business in any currency

Average timeframe to set up a new company

24-48 hours (depending on availability and adequacy of documentation/information provided)

* except where the IHC makes use of nominee directors.

Disclosure and Reporting Requirements

Disclosure of beneficial owner to Company Registrar

No (when using nominees)

Government register of directors

Yes

Government register of shareholders

Yes

Annual return

Yes

Submission of accounts

Yes

Audit

Yes

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 F&A Services Limited, our nominee company licensed by the Malta Financial Services Centre.

Exemption from Exchange Control Regulations

In view of Malta's EU membership, exchange control laws have been abolished.

Expatriate Employees

Company may operate an office in Malta and employ skilled expatriates in Malta. Foreign employees paid in Malta will be subject to National Insurance and local Income tax regulations. Tax rates vary between 0 - 35%, depending on the declared salary of the employee.

Bank Accounts

Company may hold Bank accounts in Malta or elsewhere.

Documentation Requirements for Company Formation

A full documentation package and details of fees and costs will be provided
on request @
corporate@cc-advocates.com

International Trading Company

International Holding Companies

See also:

Double taxation treaties

A Malta base for Internet Betting Operations

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