Corporate Requirements

Minimum Share Capital:

Under the Companies Act, the minimum authorised share capital is €1,164.69. The authorised share captial must be subscribed by at least two persons and it must be fully subscribed in the memorandum where it is equal to the minimum as stipulated by law (€1,164.69). Also on the signing of the memorandum not less than 20% of the nominal value of each share taken up, shall be paid up.

Shareholding:

A limited liability company is required to have a minimum of two shareholders and a maximum of fifty. The two shareholders may be individuals or corporate bodies. However Maltese Law also allows for a ‘single member company’ which is a limited liability company which qualifies to be an exempt company and is incorporated with one member. In such a case the Memorandum and Articles should indicate the main trading activity of the company.

Company Returns and Annual Accounts:

Under Maltese Law all companies are to prepare an annual return and annual accounts which are generally accompanied by an auditor’s report. Our company will be able to introduce you to various audit firms or even one of the ‘Big Four’s’.

The annual accounts must be filed within 10 months from the end of the financial year whilst the annual return must be filed within 42 days after the date to which it is made up.

Opening a Local Bank Account:

The Maltese Registry of Companies will require evidence of deposit of the initial issued share capital of the company. This means that the company must have a local bank account. Every local Bank has its own account opening procedures and documents such as a Know Your Client (KYC) form are usually required. Other documents might be requested such as a Copy of the Memorandum and Articles of Association and a confirmation of the permanent address of the Directors. Each bank will have at its own discretion the option to ask for further support documents. Our professional team are highly capable to assist you with regards to opening a local bank account.

Other Corporate Requirements:

- Every Maltese company must have a company secretary and at least one director.
- There is no requirement for shareholders or directors to be Maltese residents or Maltese nationals
- The Company must have a registered office in Malta which can also provide the company with administrative and support services for its good standing.

Fees:

Registry fees payable to the Registrar of Companies – these fees are calculated according to the company’s authorised share capital. For instance, if one intends to set up a Maltese company with the minimum authorised share capital ie: €1,164.49 the registration fees would amount to €245.00 annually.

Other Registry fees – there are other fees which are payable to the Registrar of Companies, some of them are only paid once at the very beginning such as the reservation of name fee (€8.00) and others which have to be paid annually such as the filing of the annual return starting with a minimum of €100.00 if the company is formed with the minimum authorised share capital.

A full list of indicative fees and expenses relating to incorporation of companies and annual maintenance can be sent to your personal email address by submitting a request by clicking here