The most common form of business entity in Malta is a limited liability company which may either be registered as a Public Company (plc) or a Private Company (Ltd). A company in Malta is formed with a minimum of two shareholders, unless the company is formed as a single-member company.
In order to constitute a Maltese limited liability company, a Memorandum and Articles of Association is required to be submitted to the Registrar of Companies. The document contains information in relation to:
♦ the full name of the proposed company;
♦ the status of the proposed company – whether a public company or a private company;
♦ the registered office;
♦ the objects of the company;
♦ the subscribers to the company;
♦ the authorised and issued share capital (the minimum amount of authorised share capital is of €1,165 which is to be at least 20% paid up, or €233 for a private company whilst the minimum amount of authorised share capital of a public company is of €46,588 and must be at least 25% paid up or €11,647); and
♦ the proposed directors and company secretary.
Prior to the registration of the company, it is necessary to deposit the amount of paid-up share capital in a bank account with the name of the company. The incorporation is relatively straightforward and quick and would normally not take more than 2-3 working days. Upon the registration of a company, a certificate of registration is issued by the Registrar of Companies.
The fee for registration of a company ranges from a minimum of €245 to a maximum of €2,250, depending on the amount of the authorised share capital. An annual return document and annual fee is due to the Registrar of companies on the anniversary date of incorporation of the company which ranges from €100 to €1,400 depending on the authorised share capital.