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Malta
Malta is an island country in Mediterranean Sea, which has a rich history and the best climate in the world. Country is officially named as the Republic of Malta. It has a population close to 416,000 of people and has a territory of around 122 square miles. There are two official languages: English and Maltese. Maltese became an official language just in 1934. Most correspondence, banking documents are in English. From 2008 the only one official and legal currency of Malta is euro.
Most financial and administrative legislation is based on British law. Banks open from Monday’s afternoon till midday of Saturday, some of them have long working hours.
Malta is one of the most reputable and premier jurisdictions. Incorporation of a company usually takes a few days for European citizens. Local companies are required to pay 35% of corporate tax, but it is possible for companies to get up to 100% tax rebate. The country has a double taxation agreement with around 70 countries. Most of the Maltese companies are incorporated as private limited companies although there are available different company forms. Another types of business entities are general partnership and limited partnership, which can have the capital divided into shares. Also there are such structures as trusts, foundations, joint ventures and sole proprietorship. Foreign company doing business in Malta should register its branch or place of business under the Companies Act and referred to as an oversea company.
Quick Overview
| Location of Jurisdiction | Republic of Malta |
| Official Language | English, Maltese |
| Type of Offshore Company | International Business Company |
| Type of Law | English Common Law plus local Ordinances |
| Language of Documents | English, Maltese |
| Minimum Number of Directors | One |
| Residence Required of Directors | No |
| Minimum Number of Shareholders | Two |
| Minimum Number of Shares | One |
| Minimum Paid Up Share Capital | 250 Euro |
| Recommended Share Capital | 1250 Euro |
| Permitted Currencies | Any |
