Company Formation in Malta - Which Legal Format to choose?
Welcome Center Malta
03 October, 2018
Starting a business in Malta, can be a very exciting and rewarding experience, if done right. There are many reasons why you should consider opening your business in Malta, for instance, the location, accessibility, language and many more positive factors. In this article we will explore the possibilities in terms of company formation and legal formats in Malta.
One of the first options you can opt for is a sole trader. This is also known as being self employed and it is considered as one of the most straight forward legal formats available. Once you apply for this line of business and receive the required permits, you can immediately start working. In this type of business, any liability in relation to the company operations, falls on the owner who would be expected to pay any debts accrued in the time of business.
Another type of legal format is a partnership, which can be registered or also non-registered company. This type of business can only act as non-registered if the partners involved are already registered as self employed workers. With this being said, this type of agreement has to usually go through a notary or lawyer. The other option available is the registered partnership, in which you can opt for Partnership 'En Nom Collectif' or 'Partnership En Commandite'.
The other legal format and also one of the most common in the Maltese Islands is opening a Limited Liability Company(LTD). In order to open an LTD, you need to follow a certain process to legally open the company. In addition to that, a minimum amount of share capital has to be inserted into the company, prior the business operations start.
Last but not least, there is the option for Cooperatives, which are independent legal entities that are owned by a number of shareholders. Similar to the LTD, this also involves a process before you can start doing business.
If you are unsure which legal format you should opt for, worry not, as you can consult with local experts that can help you explore the best corporate services available on the island. In addition to that, they can also assist you in further growth and tax planning.
For more information: https://www.welcome-center-malta.com
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