Formation of Companies in Malta involve several steps. These include the drafting of the company’s memorandum and articles of association, registration with the Malta Business Registry, and compliance with various statutory requirements.
The memorandum of a company, as per the Companies Act, must state the name of the company, the registered office in Malta, the company’s objectives, the amount of share capital, and the details of the subscribers. The articles of association set out the rules governing the internal management of the company.
Once a company is formed, it must comply with various ongoing requirements indicated in the Maltese Companies Act. These include maintaining proper accounting records, filing of Annual Returns with the Malta Business Registry, and holding annual general meetings. The company must also notify the Malta Business Registry of any changes to its memorandum and articles of association or to its board of directors.
The Maltese Companies Act provides a comprehensive framework for the governance of companies, including provisions relating to the duties and responsibilities of directors, the rights of shareholders, and the procedures for making decisions at both board and shareholder level.
FAQs – Formation of Companies
What is the minimum amount of share capital in Malta?
The minimum authorised share capital for a private company in Malta is € 1,164.69 and not less than 20% of the nominal value of each share taken up shall be paid upon the signing of the memorandum.
Where is the share capital deposited in Malta?
The money must be deposited in a bank account under the name of the company in formation.
Do companies in Malta required a registered office?
Yes, every company registered in Malta must have a registered office in Malta and any changes in the company’s registered office must always be notified to the Malta Business Registry.
How long does it take to set up a company?
Once documents are submitted with the Malta Business Registry, incorporation usually only takes a couple of days. However, the exact time it takes to incorporate a company depends on how quickly the necessary documentation and information are made available when requested.
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