Procedure of company registration
To begin incorporation of a Maltese company the following is required:
- Company Name
- Director/s full name, date of birth, address and nationality
- Shareholder/s full name and address
Documents you are required to provide:
- Proof of identity. Either passport, national identity card, photographic driving licence
- Proof of residential address. Gas/electricity bill or credit/debit card bank statement dated within the last 3 months
A Maltese company must have at least one director, they may be an individual or corporate body and do not need not be Maltese nationals.
In order to obtain a Maltese bank account the company requires a resident nominee director. Eltoma Corporate Services can provide this service. However, directors/shareholders residency is not important to establishing resident status for the purpose of the treaties.
A minimum of two shareholders are required who may be corporate or individual. The personal details of a Maltese company’s registered shareholders are public information but, anonymity can be retained by the use of nominee shareholders.
The maximum number of shareholders for a private company is fifty. The minimum number of shareholders is normally two; however a single member company may also be registered under the Maltese Companies Act. A single member company is a private limited liability company, which qualifies as an exempt company and which is incorporated with one member.
A Maltese company must have a company secretary. It is the duty of the directors to take all reasonable steps to ensure that the company secretary is an individual who appears to them to have the requisite knowledge and experience to discharge the functions of company secretary. The law does not require that the company secretary be resident in Malta.
Every Maltese company must maintain a registered office in Malta. Any changes to the company’s registered office must be notified to the Registrar of Companies. Eltoma Corporate Services can provide this service.
Beginners guide to Service Level Agreements: important information & Q&A
SLAs are a critical component of any outsourcing and technology vendor contract. Beyond listing expectations of service type and quality, an SLA provides remedies when requirements aren't met.
Crypto currencies becoming increasingly overly regulated as governments impose more guidelines
Crypto currencies have exploded in popularity in recent years, thanks to innovation in block chain, the distributed ledger technology underpinning those virtual tokens such as bitcoin. That has led to a red-hot fundraising trend where start-ups are pulling in millions of dollars in capital by issuing virtual coins to investors in exchange for money.
Initial Coin Offering, definition and regulation
Initial Coin Offerings (“ICO”) have gained increasing attention by crypto currency users, the media and the regulators. The rising price of Bitcoin, one of the most widely known and used crypto currencies, along with fraud scandals in different countries, have raised attention by the public and concern by the regulators. It is important for us that our clients and our professional team understand crypto currencies and ICOs to be able to make intelligent and well-informed decisions.
Seychelles IBC Act 2016: Action for all companies required
The requirement to file and maintain a list of Directors and Beneficial Owners for all Seychelles companies or International Business Companies “IBCs” registered under the International Business Companies Act 2016 has been introduced to as a way to increase the transparency of all Seychelles international businesses for tax and money laundering purposes
Passport schemes: countries that allow foreign nationals to acquire citizenship through investment
There are many factors that influence an investor to obtain a second citizenship in another country. Aspects such as relocation, retirement, security or even long-term plans for future generations are all benefits and considerations in the prospectus for investment. Several countries now offer this option through different investment schemes.
The Tier 1 Investor Visa: are the UK government checking candidates' source of wealth? Evidently not..
One of many legal disputes resulting from the recent infamous Kazakhstan BTA bank fraud case has shed new light on a little-known immigration scheme colloquially known as the golden visa scheme and officially called a Tier 1 Investor visa in the UK; the scheme grants investors residency in exchange for spending £2m in UK bonds or shares through a bank, with applicants eligible for to remain indefinitely, with full citizenship after five years.
EU release list of tax havens & blacklisted jurisdictions for the first time
In an attempt to recover the approximate 600B euros lost within various EU countries to tax evasion schemes each year; the European Union has released its first official blacklist naming 17 jurisdictions that have failed to meet international standards of implementing sufficient regulations and transparency measures.
A beginners guide to filing capital statements in Cyprus
This article details a beginners guide to capital statements; what to include in them, what the figures mean and how to understand and interpret them; avoiding common pitfalls many individuals experience along the way with filing their own.. Capital statements (also referred to as wealth statements) are similar to profit & loss sheets for a company except capital statements are typically used to measure and record an individual’s finances using an official document accumulated on differing dates.