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Guide to Starting a Business in Malta

Staff Reporter | 1:57 AM |

Formal registration of companies has many immediate benefits for the companies and for business owners and employees. Legal entities can outlive their founders. Resources are pooled as several shareholders join forces to start a company. Formally registered companies have access to services and institutions from courts to banks as well as to new markets. And their employees can benefit from protections provided by the law. An additional benefit comes with limited liability companies. These limit the financial liability of company owners to their investments, so personal assets of the owners are not put at risk. Where governments make registration easy, more entrepreneurs start businesses in the formal sector, creating more good jobs and generating more revenue for the government.

Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Malta. It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income.
This information was collected from World Bank: Doing Business 
No.ProcedureTime to CompleteAssociated Costs
1Check availabilty of company name1 dayEUR 8
2Draft memorandum and articles of association with a lawyer1 dayBetween EUR 500 and EUR 1000.
3Open a bank account and deposit paid-in minimum capital1 dayEUR 20
4Registration with the Registry of Companies2-3 daysEUR 490
5Obtain trade license10 daysEUR 58.23
6Obtain Tax Identification Number7 daysno charge
7Open a permanent bank account1 dayno charge
8Register for VAT7 daysno charge
9Obtain a PE number (employer identification number) and register employees3 daysno charge
10Register the employees with Employing Training Center (ETC)1 dayno charge
* 11Register for Data Protection1 dayEUR 23.29
* Takes place simultaneously with another procedure.