How Long Does it Take to Incorporate a Company in Malta?
Starting a business is exciting, but it can also be a daunting process, especially if you’re not familiar with the legal requirements and processes involved. If you’re considering incorporating a company in Malta, you may be wondering how long the process will take. The good news is that Malta has a well-established legal and regulatory system that makes the process relatively straightforward. In this article, we’ll take a look at the steps involved in incorporating a company in Malta and provide an estimate of how long the process usually takes.
Step 1: Choose a Name for Your Company
Before incorporating your company, you’ll need to choose a name for it. The name you choose should not be similar to any existing company name in Malta and must comply with the relevant regulations. You can check the availability of a name by conducting a search on the Malta Business Registry’s website.
Step 2: Prepare the Memorandum and Articles of Association
The Memorandum and Articles of Association (M&AA) are the legal documents that outline the company’s objectives, rules, and regulations. The M&AA must be signed by the shareholders and filed with the Registrar of Companies. The M&AA can be prepared by a lawyer or a notary, and it usually takes a few days to complete.
Step 3: Appoint a Company Secretary and Directors
Every company in Malta must have at least one director and a company secretary. The director is responsible for managing the company’s affairs, while the company secretary ensures that the company complies with its legal obligations. The company secretary must be a resident of Malta, and the directors must be residents of the European Union.
Step 4: Register Your Company with the Registrar of Companies
Once you’ve prepared the M&AA and appointed your company secretary and directors, you can register your company with the Registrar of Companies. The process involves submitting the M&AA and other relevant documents, such as proof of identity and address for the company’s shareholders and directors. The Registrar of Companies will review your application and, if everything is in order, will issue a certificate of incorporation. This process usually takes two to three weeks.
Step 5: Obtain a VAT Number
If your company will be conducting business in Malta, you’ll need to register for a VAT number. You can register for a VAT number online through the VAT Department’s website. The process usually takes a few days.
Step 6: Open a Bank Account
Once your company is incorporated and has a VAT number, you can open a bank account in Malta. You’ll need to provide proof of identity and address for the company’s directors and shareholders, as well as the certificate of incorporation and VAT number. The time it takes to open a bank account can vary depending on the bank you choose.
Conclusion
Incorporating a company in Malta is a relatively straightforward process that can take anywhere from two to six weeks, depending on various factors, such as the complexity of your company’s structure and the bank’s processing time. By following the steps outlined in this article, you’ll be well on your way to starting your business in Malta.
FAQs
What is the standard timeframe for incorporating a company in Malta?
The standard timeframe for incorporating a company in Malta is around five working days.
Can the incorporation process be expedited?
Yes, the incorporation process can be expedited to as little as 24 hours, provided that all the required documentation is in order and the registration fee is paid.
What can cause delays in the incorporation process?
Incomplete or incorrect applications, peak periods, the nature of the business, and the type of company being registered can all cause delays in the incorporation process.
How can I ensure a smooth incorporation process?
To ensure a smooth incorporation process, it is essential to ensure that all the required documents and information are submitted correctly and in a timely manner. Additionally, engaging the services of a reputable corporate service provider can also help streamline the process and ensure compliance with all legal requirements.
Can I check the status of my incorporation application?
Yes, you can check the status of your incorporation application with the Malta Business Registry.
Claire
A highly motivated, results-driven, enthusiastic and ambitious writer. I can offer you well researched and high-quality article writing on any topic for your website or blog and can as well re-write your existing web content.
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