At GMC we recognised the importance of sharing information. We therefore decided to convert some of the more regular queries we receive into our very own Frequently Asked Questions (FAQs) section. We hope this section is of use to you and we genuinely encourage you to keep on submitting your queries.
GM Corporate and Fiduciary Services Ltd. 147/1, St. Lucia Street, Valletta VLT 1185, Malta. |
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+(356) 2123 5341 | |
info@gmint.com | |
Q: |
Who may incorporate a company? |
A: |
A limited liability company may be registered by the shareholders or their authorised agent. |
Q: |
How long does it take to incorporate a company? |
A: |
The length of time to incorporate a company depends on the type of company being incorporated and on whether all information and documentation is available and in order. Once all the documentation and information is in order and passed on to the Registrar of Companies, the process may take from as little as 24 hours. |
Q: |
Is it possible to have the registered office outside of Malta? |
A: |
Every company registered in Malta must have a registered office in Malta. Any changes to the company's registered office must be notified to the Registrar of Companies. |
Q: |
What is the minimum number of shareholders allowed to incorporate a company? |
A: |
The minimum number of shareholders is normally two; however, a ‘single member company’ may also be registered. On the other hand the maximum number of shareholders for a private company is fifty. There is no maximum number of shareholders for a public company. |
Q: |
What is the minimum number of directors allowed to incorporate a company? |
A: |
Every private company must have at least one director whilst every public company must have at least two directors. It is worth mentioning that every company must have a company secretary. Furthermore, no company may have: |
Q: |
What is a company return? |
A: |
All companies must prepare an annual return upon each anniversary of its registration. The Company Return must be filed with the Registrar of Companies within 42 days after the date to which it is made up, against a payment which is determined upon the authorised capital of the company. |
Q: |
What is the deadline for submitting the company’s annual accounts? |
A: |
Companies are also required to file a copy of the annual accounts, which are generally accompanied by a copy of the auditors' report and the directors' report. The annual accounts must be filed within 10 months from the end of the financial year, with a grace period of 42 days. |
Q: |
Who is obliged to register for VAT purposes? |
A: |
Any taxable person established in Malta shall apply to the Commissioner for Revenue to be registered for Value Added Tax (VAT) purposes. Registration must take place not later than thirty days from the date on which any taxable supply or exempt with credit supply is made. |
Q: |
What is the VAT rate in Malta? |
A: |
Malta has different tiers of VAT, depending on the type of taxable supply. The VAT rates are as follows:
Certain products are exempt and on which no VAT is charged.
There are two types of exempt supplies:
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Q: |
What is a recapitulative statement? |
A: |
A recapitulative statement is a periodical statement required to be made by suppliers in Malta who make intra-Community supplies of goods to customers identified with a valid VAT Registration number in another Member State. The new rules extend this requirement also to a supply of services made to a customer who is liable to pay the tax on that service in the Member State in which he is established, except when that service would be exempt in that Member State. The recapitulative statement must be submitted to the VAT Department. |