10 steps to incorporating in Malta in 2023
Malta company incorporation is a straightforward process and can be completed within 2 weeks, without our Client travelling to the country. Healy Consultants will complete all the steps to register the company in Malta and open a local corporate bank account opening on our Client behalf. Standard steps include:
- Consultation: Before starting the Malta company incorporation process, our Client i) settle applicable engagement fees (payable by instalments if necessary) and ii) supply us a signed copy of our engagement letter along with the required due diligence documents;
- Engagement planning: Once the exact corporate structure of the Malta entity is determined, Healy Consultants Group PLC then drafts a detailed Malta incorporation project plan, mapping out each step to engagement completion. Our Firm also emails a draft company M&AA for our Client’s review and approval;
- Company name: Thereafter, our Firm reserves the company name with the Registry of Companies. The reservation certificate is usually obtained within one or two business days;
- In October 2020, the Maltese authorities introduced a mandatory FDI approval requirement for all non-EU investors. The National Foreign Direct Investment Screening Office must be notified of all investments from non-EU companies/ individuals.
- Opening of a local capital account – The minimum issued share capital required for a Maltese company is €1,165 of which at least 20% must be paid up before company incorporation. We will assist our Client open a local corporate bank account to deposit this amount. The opening process takes an average of 4 weeks.
- Payment of share capital: our Client injects the paid up capital of the entity, following which we secure the share capital deposit certificate from the relevant local Malta bank;
- Document preparation: at this stage, our registered agent will draft the company memorandum and articles of association and email incorporation forms for our Client’s signature and courier return to then submit the same to the Registry of Companies;
- Trade license and tax registration: Once the Malta company incorporation is complete, Healy Consultants will obtain a Trade License from the Commerce Department of the Trade Licensing Unit. Our team will then obtain a Tax Identification Number (TIN) from the Inland Revenue Department.
- EU-VAT: Our Clients wishing to do business in the EU through the Maltese company will most likely need to apply for EU VAT. Healy Consultants will assist with the same;
- Employer registration: If our Client’s company wants to hire employees in Malta, we will obtain an Employer Identification Number (called the PE) with the Inland Revenue Department and subsequently register all local employees with the Employee Training Corporation;
- Engagement completion: Following engagement completion, Healy Consultants couriers the full company setup kit to our Client including original corporate documents, unopened bank correspondence, and a Client feedback survey.
Important documents to register a Maltese company
- Attested passport copies for the proposed shareholders and directors;
- Certified company documents for all corporate shareholders;
- A legalized Power of Attorney to Healy Consultants’ registered agent to act on their behalf for company registration and bank account opening;
- The Maltese company’s Memorandum of Association including details of i) all shareholders, directors, company secretary, legal representatives, ii) registered address, iii) share capital allocation and iv) the nature of the business activities.