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The law regulating companies and partnerships in Malta is the Companies' Act, 1995 which defines and regulates the types of corporate entities that may be established, and the manner in which they are conducted. Maltese Company Law is predominantly based on English law and the European Union Directives.
The limited liability company is the most popular type of corporate entity in Malta. The Companies' Act distinguishes between a private limited liability company and a public limited liability company. A private company is one that restricts the rights to transfer shares, limits the number of its members to fifty and prohibits any invitation to the public to subscribe for any shares or debentures of the company. A company can further be established as a private exempt company or a single member private exempt company. A public company is, by exclusion, a company that is not a private company as defined.
Upon formation or constitution of the company, a Memorandum and Articles of Association is submitted to the Registry of Companies. A certificate of registration is issued upon registration.
Our services for company incorporation cover the following:
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Redomiciliation of Foreign companies to Malta: Foreign companies incorporated outside Malta may transfer their domicile to Malta without winding up their foreign business. Redomiciliation of foreign companies to Malta may be carried out under certain terms and conditions which allow the foreign company set-up to remain in existence.
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Tax Planning: There are several aspects of tax planning which include: Corporate Taxation, Full Imputation and Group Relief.
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Corporate taxation relates to companies resident in Malta who are subject to income tax on their worldwide income. If a company resident in Malta is also resident in a country with which Malta has signed a tax treaty, the residency of that company is determined in accordance with the provisions of the relevant treaty. |
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| B) |
The Full Imputation System implies that the tax paid by the company is attributed as a tax credit to shareholders receiving the dividends. Dividends paid by Maltese companies suffer full tax at source and recipient (shareholders) receiving the dividends may claim that tax as a credit against tax chargeable in the hands of the recipient. Therefore a full credit is given in the hands of the shareholder of the tax paid at the corporate level. |
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Group Relief is allowed for companies forming part of a group of companies who may surrender losses to another member of the same group. |
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Residence Management: For taxation and legal purposes, foreigners visiting Malta may fall within three different types of residency categories. These are: Non-Residents (persons who visit Malta on a casual basis and whose any one stay does not exceed three months), Temporary Residents (Persons who are in Malta for a temporary purpose, and for a period longer than three months), and Permanent Residents (Persons who are entitled to reside in Malta permanently on the basis of special legislation and conditions). Each of these residence types have specific tax-brackets assigned to them.
- Shipping Companies: UHY are involved in ship related registration activities specifically tailored to clients' needs. A comprehensive range of services are provided within this sector.
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