Authoritywinds

FairwindsManagementInformativeQ&AFairwindsManagementmainly(butnotsolely)workwiththefollowingjurisdictions:Malta,Seychelles,Cyprus,Gibraltar,andUK.
ThefollowingisasetofQ&AcompiledbyourcorporateteaminMaltarelatedtotheMaltajurisdiction.
Thismaterialisprovidedforinformationalpurposesandshouldonlybeusedinconjunctionwithourguidance.
Forfurtherinformationdonothesitatetocontactusoninfo@fairwindsmanagement.
net.
WhichlegalsystemsareadoptedinMalta(e.
g.
CommonLaw,CivilLaw)Amixedjurisdiction.
Maltacompaniesgoverninglegislation:ThiscanbefoundunderChapter386oftheCompaniesAct-www.
ec.
europa.
eu/internal_market/finances/docs/actionplan/transposition/malta/d8.
3-mt.
pdf.
ArethereanyrestrictionsontheMaltacompanyactivitiesTherearenorestrictions;however,someactivitiessuchasgamingandfinancialservicesinMaltawillrequirealicense.
HowlongdoesittaketoincorporateacompanyinMaltaItusuallytakesbetween24-48hoursorless,ifallthatisrequiredisprovidedaccordingly.
AreinwardandoutwardredomiciliationallowedYes,theyareallowedintheformofbranches(overseascompanies)orcontinuationofcompanies.
WhatinformationisheldonpublicrecordinMalta(e.
g.
shareholders,directors,secretary,financialstatements,mortgagesandcharges,etc.
)Theinformationincludesthedetailsofallthepartiesinvolvedincludingtheiridentitynumber,nationality,andresidentialaddress.
FinancialstatementscanbeboughtbyanyonewhohasanaccountwithMalteseAuthority.
Ontheotherhand,anythingrelatedtofinancialmatterssuchasmortgagesandbankstatementsarenotmadeavailabletothepublic.
Arethereanyrestrictionsonchoosingthecompany'snamewhenopeningacompanyinMaltaOnemaychooseanyname;however,thiscannotbesimilartoanalreadyexistingname.
Therefore,weusuallyaskclientstoprovideuswiththreealternativenamestomakesurethereisavailability.
Canthecompany'snamebeinalanguageotherthanEnglishAslongasthestandardEnglishalphabetisused,anynamecanbesuggested.
Forinstance,companiescanbenamedinEnglishandItalian,butnotinGreek.
WhichlimitedliabilitydesignationsareallowedinMalta(e.
g.
Ltd,Limited,Inc.
,Incorporated)DesignationsallowedareMaltaCoLtdandMaltaCompanyLimited/CoLimited/CompanyLtd/Ltd/Limited.
InwhichcurrenciescanthesharecapitalbedenominatedThestandardcurrencyistheEuro();however,anycurrencyisaccepted.
WhatistheminimumsharecapitalofaMaltalimitedliabilitycompany1,200,withatleast20%thereofpaidupuponsubscription.
ArebearersharesallowedinMaltaBearersharesarenotallowedinMalta;however,onecanprotectapersonmighthavelegitimatereasonstoprotecthisidentityviacorporateshareholdersorthroughlicensedfiduciaryornominees.
Anotherpossibilitywouldbetoincorporateatwo-tierstructurei.
e.
aMaltaTradingCompanyinMaltaandaMaltaHoldingCompanyin/outsideMaltawherebytheMaltaholdingwillbetheshareholderofthetradingandthus,benefitforMalta'staxrefundmechanism(foraneffectivetaxrateof5%foraMaltaTradingcompany).
WhatistheminimumnumberofshareholderswhenapersonopensaMaltacompanyOne.
Itcanbeanindividualorcorporateshareholders(bothareallowed)inMalta.
ArecorporateshareholdersallowedYes.
WhatistheminimumnumberofdirectorsacceptedOne.
Arelocal(Malteseresident)directorsrequiredNo,butitisadvisabletoappointaMaltadirectorifyouwanttoconfirmeffectivemanagementandcontrolinMalta,thiswilldependonthesetup.
Arethereanyrestrictionsastothedirectors'placeofresidenceNo.
Anyresidentornon-residentcanbeadirectorofaMaltacompany.
ArecorporatedirectorsallowedinMaltaYes,aslongasthecompanyhasmorethanoneshareholder,inthatcase,weputasecondshareholderwithonesharehavingnovotingrightsandnorightstodividends.
IsacompanysecretarymandatoryYes,theycanalsobethedirectororshareholderthemselvesaslongas,theyareaphysicalpersonandnotacorporatesecretary.
ArethereanyconditionsofappointmentoftheMaltacompanysecretary(e.
g.
qualifications,residence)No.
IsacorporatesecretarypossibleinMaltaNo.
Canthesamepersonactasasoledirector,secretary,andashareholderinMaltaYes,thisisreferredtoasasingle-memberprivateexemptMaltacompany(aslongasthereisnocorporateshareholderordirector).
CandirectormeetingsofaMaltacompanybeheldanywhereYes.
CandirectormeetingsofaMaltacompanybeheldbytelephoneconferenceYes.
CanshareholdermeetingsofaMaltacompanybeheldanywhereYes.
CanshareholdermeetingsofaMaltacompanybeheldbytelephoneconferenceYes.
IsanannualgeneralmeetingofshareholdersofaMaltacompanyrequiredYes.
Ifso,whenmustthefirstAnnualGeneralMeetingbeheldwhenyouoperateaMaltacompanyandwhatisthemaximumtimeintervalbetweenAGMsThefirstAGMshouldbeheldayearafterthecompany'sincorporationandthemaximumtimeintervalbetweenAGMsisoneyear.
WhatrecordsarerequiredtobeheldattheMalteseregisteredofficebylawConstitutionalcompanydocuments,bookkeepingdocumentsincludingfinancialstatements,VATreturns,andtaxreturns.
IsitpossibletomaintainthestatutoryrecordsoutsidetheMalteseregisteredofficeIfyes,doanyconditionsapplyYes,aslongasthesearemadeavailableuponrequest.
IsthepreparationoffinancialstatementsrequiredbylawinMaltaIfyes,musttheybeauditedYes,statutoryauditsarerequiredannuallyforanycompanysize,irrespectivewhetherthecompanytradesornot.
IsanannualreturnrequiredtobefiledwiththeRegistrarofCompaniesinMaltaYes,annualfeeswilldependonthecompany'ssharecapitaltypically100forminimumsharecapital,risingupto900foracompanywithasharecapitalof1,000,000.
IsaMaltacompanysubjecttoanytaxYes,theMaltacompanyissubjecttoacorporatetax,whichispaidannuallybasedonthecompany'sprofit.
ThecorporatetaxrateinMaltais35%;howeverwhenacompanyhasforeignshareholderstheyareeligiblefora30%taxrefund.
Thismeansthatforeignshareholderspayonlya5%corporatetaxinMalta.
IstheMaltacompanyrequiredtoregisterforVAT(ValueAddedTax)purposesThisdependsonthecompany'sactivity,ifthecompanyisinvolvedintradingthenitisrequiredtoregister;however,holdingcompaniesdonotneedtoregisterforVAT.
AredividenddistributionssubjecttowithholdingtaxinMaltaNon-residentsarenotsubjecttowithholdingtaxesondividends.
Dividendswillbedistributedafterthecorporatetaxispaid;however,asexplainedabove30%willberefundedbacktoshareholders.
Nofurthertaxeswillbeduebyshareholdersonsuchdividendsaslongas,thedividendsaremaintainedinMalta.
Ifsuchdividendsareremittedtoanothercountry,adoptingahigherrate,thensuchremittancewillbetaxedwiththepercentagedifference.
WhichcountrieshassigneddoubletaxtreatiesjurisdictionwithMaltaMoreinformationisfoundonthewebsitewww.
mfsa.
com.
mt/pages/viewcontent.
aspxid=196.
WhicharethemostcommonusesforMalta'sjurisdictioncompaniesMaltaismainlyusedfortradingandholdingcountries,whilstotherjurisdictionsaretypicallyrecommendedasholdingcompanies.
IsthereanyotherrelevantinformationTheabovequestionscoveredthemostimportantpoints;however,shouldyouhaveanyotherquestionsdonothesitatetocontactusoninfo@fairwindsmanagement.
netorvisitoursisterwebsitewww.
incorporateinmalta.
comtopurchaseyournewMaltaoroffshorecompany.