Reserve a unique company name
Agency: Online
Checking the availability of a company name can be made online through the website of the Registry of Companies or in person. The reservation confirmation is sent by email.
Time and cost: Less than 1 day (online procedure), EUR 10
Draft the memorandum and articles of association
Agency: Lawyer, accountant or a registered corporate services provider.
Lawyers or corporate service providers draft the memorandum and articles of association.
Time and cost: 1 day, between EUR 500 and EUR 1,000
Deposit the paid-in minimum capital
Agency: Bank
The Bank will open a company account once it receives reference letters from the signatories’ respective banks. The following documents are necessary to open a bank account:
- A duly filled in Know-Your-Client (KYC) form;
- A completed request to open an account specifying the type of account, the currency and the preferred mode of tax payment;
- Copy of the Memorandum and Articles of Association together with a certified copy of the Certificate of Registration issued by the Registry of Companies once the company is registered. The bank may also require a description of the activities of the company and the anticipated turnover thereof.
- Confirmation of the permanent address of the Directors through a completed identification statement certified by a Prime bank or Maltese Embassy in the country of residence. The bank also requires the authenticated identification documents for all the directors, signatories, beneficial owners and secretaries. An original copy of a utility bill to be certified by the bank may also be required.
- A completed form signed by the directors of the company appointing the bankers.
Time and cost: 1 day, no charge
Register at the Companies Registry and obtain Tax Identification Number (TIN)
Agency: Registry
The following documents are submitted to the Companies Registry in order to incorporate the company:
- Confirmation of name reservation;
- Signed memorandum and articles of association;
- Confirmation of deposit of share capital;
- Information about beneficial owners;
- Copy of the passport/ID of each shareholder, director and company secretary.
The Registry will take about 2 days to incorporate the company at which point the official memorandum and articles along with the certificate of registration bearing the registration number and registration date of the company are issued. These documents are then subsequently uploaded to the website of the Registry of Companies.
The Registrar of Companies also provides an alternative service for the registration of Companies. Registration may now be carried out online through the Registry’s portal. Prior to registration, an applicant must register for an account and obtain a personal Digital Certificate by registering for an e-ID. The ROCA would then vet the application within 5 working days.
MFSA communicates C-number with the Office of the Commissioner for Revenue (OCR) and OCR then creates an Income Tax Number. This normally happens within a couple of hours. OCR will then communicate this number to the company through email without the entrepreneur having to make a separate visit to the OCR.
Since January 1, 2018, all new companies are legally required to disclose information about beneficial ownership. The information can be submitted at the business registry for free at the time of business incorporation
Time and cost: 2 days; If share capital exceeds €100,000 but does not exceed €250,000, they payment for electronic submission is calculated as €736 with the addition of €8 for each €15,000 or part thereof in excess of €100,000.
Register for VAT, obtain the employer identification number (PE) and register the employees
Agency: Office of the Commissioner for Revenue
The online one-stop-shop allows new companies to register for the VAT, obtain the employer number (PE) and register employees at Jobplus. The legal representative of the company will access to the e-service with his maltase ID and will upload the information required. Within 14 days since the application submission, the legal representative will receive the VAT and PE numbers by email.
Once received these numbers, the legal representative can register the employees at Jobplus Registry through the same one-stop-shop. The registration confirmation will be sent by email within the next two days.
Furthermore, the National Statistics Office will be notified with the birth of a new business registration.
Time and cost: 16 days, no charge
