Do you want to set up a company in Malta? You need to visit the Malta Financial Services Authority (MFSA) offices where you will find the Registry of Companies. It is possible to set up a sole trader business, form a partnership or opt for a limited liability company. But, there are some things you need to know and arrange in order to form a company in Malta. Let’s see what they are:
You need to submit the Memorandum of Association and Articles of Association, which detail how the company will operate. Other information like the names, details and address of the shareholders and directors should also be submitted.
You have to come up with a unique name for your company, which shouldn’t be similar to another one. Make sure you don’t pick an offensive or inappropriate name as it will be rejected by the Registrar of Companies.
You need capital in order to go ahead with Malta company formation. Figure out how much capital you need, which depends on whether you are setting up a public or private company. Look into their requirements in order to decide.
- Shareholders and Directors
There are other requirements that should be fulfilled for setting up a company like a registered office, along with a minimum number of directors and shareholders. The requirements will again depend on the type of company you are setting up.
Once you have made up your mind about setting up a company in Malta, you should be aware that company accounts have to be audited manually and you need to file an annual return with the Registrar of companies. A director’s and auditor’s report needs to be submitted. The size of the company will determine what format will be used for preparing the accounts.