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Maltese International Companies

1. Corporate Requirements

2. Disclosure & Reporting Requirements

3. Exemption from Exchange Control Regulations

4. Expatriate Employees

5. Bank Accounts

6. Documentation Required for Formation.

7. Confidentiality

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

Corporate Requirements

Standard issued share capital

 Lm 500 (approx. USD1500)
(in any foreign currency)

Minimum paid up share capital on incorporation:

20%

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

2 days (depending on availability and adequacy of documentation/information provided)

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

Exemption from Exchange Control Regulations

If Company is fully owned by Non-Residents, an exemption from exchange control is given.

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 Formation

1. A letter of reference from a professional office in respect of each beneficial shareholder, or:

2. If the shareholder chooses to appear in his name, the Central Bank of Malta must be provided with details (name and fax number) of the foreign Bankers of the said shareholder and will request a short status report from such Bank confirming that the client is in good-standing.

This requirement is not applicable where the shareholder remains anonymous and uses the services of a licensed Nominee.

3. A completed application form (available on request).

The process of formation takes about 2 days from submission to us of the full documentation.  Details of costs are provided upon request.

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.

International Trading Company (Index)

International Holding Company (Index)

See also:

Double taxation treaties

A Malta base for Internet Betting Operations

 

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