Hi,
I’m doing research in setting a company in Malta. Does anyone have experience forming a company there? Or can recommend an agency that does this type of service?
Thanks
This may a bit late, but yes, definitely.
Been through this process thrice already so have a pretty good grasp on how it works. The actual fees for forming the company are quite small (<500 EUR) but must people chose to use an agent that may be a lawyer or other person that knows their way around the different departments on Malta. This hikes the price to a couple of thousand EUR but definitely should not be more than 4000 total. You usually get help with things like company address, VAT registration, bank account opening, mail forwarding, connecting you with a bookkeeper and auditor, employer registration, insurance, secretary and nominee directors and so forth.
So say about ≈4000 EUR for all that up front and then a ≈1500 EUR/year service fee.
Probably worth it unless you want to spend several days navigating the “paper-and-stamp” driven Maltese bureaucracy that leads to one department that points you to another that points you to a third that points you back to the first one type of situation.
Agents are also useful for another reason: for example they know how to tactfully pay the 100 EUR “donation” required to get a EU VAT number issued in a few short weeks instead of the up to six months you may be required to wait by doing it yourself.
I’m a bit wary of promoting particular service providers here, but you can absolutely message me if you are interested.
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A Malta company may be registered with the Malta Financial Services Authority (MFSA) within 48 hours of receiving all the necessary documents. The minimum share capital of a Malta company is Euro 1,165 which can be only 20% paid up. Registration fees are low starting from Euro 245 for a company with a minimum share capital. A Malta private company requires a local registered office, at least one director and one company secretary and is usually incorporated with two shareholders to enable the company to provide more than one activity.
There are plenty of agencies but select the ones which are in business for long. See this one.
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Sadly yes, wasted lots of time, money, nerves and health. Will strongly recommend staying away from Malta at all cost.
-you won’t get a bank accout. If by mirracle you do, they might steal your money.
There were 2 banks closed just last year, withh billions euros still not returned to account owners.
-their tax refund system is a joke. You can wait for a refund for years.
Some of my friends didn’t get corporate tax refund since 2016.