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
Time to Complete
Check availabilty of company name
Draft memorandum and articles of association with a lawyer
Between EUR 500 and EUR 1000.
Open a bank account and deposit paid-in minimum capital
Registration with the Registry of Companies
Obtain trade license
Obtain Tax Identification Number
Open a permanent bank account
Register for VAT
Obtain a PE number (employer identification number) and register employees
Register the employees with Employing Training Center (ETC)
Register for Data Protection
* Takes place simultaneously with another procedure.