Company Formations
Maltese Company law caters for the possibility of two types of Company, Limited Liability (Ltd) or Private Limited companies (Plc) . The main difference is in the size of the share capital and the number of shareholders possible in each.
Our firm specializes in the incorporation of companies for non-resident shareholders. This process is a relatively simple one and can be concluded in a matter of a few days depending on the availability of the necessary documents.
Due Diligence documentation needed
Personal Shareholders
- Copy of ID Cards/Passports – Authentication by a lawyer, notary or accountant is needed if we do not meet the person/s in question personally.
- Recent utility bill showing the individual’s residential address – Not older than 3 months;
- Reference letter from a professional;
- Personal CV (optional)
- Bank reference letter;
- Letter from shareholder expressing the wish to hold shares under nominee (In case of nominee company formation only)
- Signed management and service agreement (In case of nominee company formation only.)
Corporate Shareholders
- Certificate of incorporation;
- Certificate of good standing ( if the company has been registered for more than 3 months)
- Memorandum and articles (or statute)
- An official document of appointment of directors;
- An official document of shareholders or beneficial owners – for instance, share certificates;
- If the corporate shareholder is NOT incorporated within the EU, EEA, Gibraltar, Isle of Man, Isle of Wight, Guernsey or Jersey, then a bank reference will be needed on the accounts of the company, where the letter must state the duration of the business relationship between the banks and client, and that the account has always been maintained in good standing / satisfactorily;
- A bank reference from a reputable banking institution which is not older than 3 months and which is addressed directly to the company’s bank. These bank references must confirm the residential address, term of account holding and status of account, for each signatory, director, shareholder or beneficial owner;
- Copy of ID Cards / Passports of beneficial owner – Authentication by a lawyer, notary or accountant may be necessary;
- Recent utility bill showing the individual’s residential address – not older than 3 months;
- Reference letter from a professional;
- Personal CV
Directors and Bank Signatories
- Copy of ID Cards / Passports of beneficial owner – Authentication by a lawyer, notary or accountant may be necessary;
- Recent utility bill showing the individual’s residential address – not older than 3 months;
- Reference letter from a professional;
- Personal CV;
- Bank reference letter;
- Director service agreement – in the case where shareholders are using such services
Co-Secretary (this has to be an individual)
- Copy of ID Cards / Passports of beneficial owner – Authentication by a lawyer, notary or accountant may be necessary;
Once the documents are received, the memorandum and articles of the company is prepared and submitted to the Malta Financial Service Authority, Malta’s financial services regulator. The memorandum and articles is usually approved and published within a couple of days .
A minimum share capital equivalent to €250 needs to be submitted into a Maltese bank of your choice as a company in formation accountai and proof of this submitted to the Regulator together with the Memorandum and Articles. Once the M & A is approved and the bank is satisfied with its own due diligence the account will be opened.
The whole process may be done by correspondence, and original documents sent by mail. The time frame is usually between one and two weeks.
