Malta is a fascinating country located between Africa and Europe in the Mediterranean Sea. It is a nation of 400,000 residents, including those who are fun entrepreneurs or want to make Malta their second home. You will find the country a great place to start your business because of its short commutes and skillful workforce.
Here are seven simple steps of how you can open a company in Malta.
- You can start a business in the country as a self-employed person or with limited liability. The viability of your business is essential before you register as LTD in Malta. You would also need to have at least two shareholders for your company’s registration.
- The second step requires you to prepare registration documents, including memorandum and articles of association. Although you can do it yourself, it’s always wise to seek the assistance of local lawyers to avoid any glitches.
- Determine the amount you would need to open a company in Malta and include it in your documentation. You would at least need to deposit 20% of the share capital of €1,200 at a bank.
- After registering with Malta Financial Services Authority, pay the registration fee according to the size of your company.
- Starting a business like a beautician related business, a large manufacturing business, or food preparation business in Malta requires you to obtain a trading license. It is a simple process and needs you to fill in the required application form.
- Opening a business in Malta also involves getting a tax identification as a legal requirement. You can do the needful online without having to pay for anything. You will, however, be filling in a tax return form during the procedure.
- You will need to register with the VAT department and the Employment & Training Centre to start a business in Malta. Make sure to get a PE number and register yourself for your business data protection as well.