Borg Galea & Associates,

Phoenix Business Centre, The Penthouse,

Old Railway Track, Santa Venera, SVR9022, Malta

     Monday - Friday: 09:00 - 18:00

               + 356 2137 7700

All you need to know to open a new company

Where do I get started?

First of all, we would like to take this oportunity to congragulate you on making this brave move and decide to be you own boss. Operating your own firm gives you the opportunity to focus your energy and business on markets you are passionate about. Nevertheless, you will now have to face additional challenges rarely considered when employed.

At Borg Galea, we can help you to make sure that you are on the right track by providing you with continous administrative support and advise as you go along. One of the very first challenges you will face would revolve around the form you would like your new business to have. 

During the preliminary meeting, our experts provide our clients with in depth insights on how the VAT and taxes in general work, what is required and how to register for each one of them. All such tasks, can be provided by us. Infact, at Borg Galea, we can offer you a comprehensive package which include the company's incorporation, VAT registration, registered address, directorship, accounting and also auditing services.

So what is a company?

A company is by itself a legal and seperate entity. However, owning a company is not a prequisite to operate your own business. Various company structures are possible such as single shareholder, multiple shareholders with potential different rights etc...

Following a preliminary meeting held with us, our experts will provide you with the pros and cons of different types of companies and other forms you might want to consider.

How long does it take to open a Company?

Opening a company in Malta is relatively easy, both for residents and non residents. At Borg Galea, we have sufficient human resources to be able to open a company in 24 hours following the go ahead from our due dillegence team, subject to having all the required signed documents in hand.

Directorship and Company Secretary

A company can have as many directors as one desires. However, all companies in Malta have one Company Secretary. A director can serve as the company secretary as well in many cases. The roles of the two are different.

The director decides on the company's strategy, operational plan and how to run the company in general. The Company Secretary on the other hand has a purely administrative role as defined in the Companies Act in Malta a list of the roles of the Company Secretary is defined hereunder: -

  • Ensure filing of accounts with the MFSA;
  • Record minutes of board meetings;
  • Register changes in shareholding
  • Prepare the annual return to the MFSA;
  • etc...

The Maltese law disallows the position of Company Secretary to be filled by a body corporate. Hence, only natural persons hold this position.

What about bank accounts?

As a seperate legal entity, Maltese companies have the right to open as many bank accounts as required to operate the company. During the bank account opening process, the bank would require the company representative to inform the bank who would be the authorised users and how it would like to delegate the management of its bank account.

Reporting Obligations

Any company operating in Malta is required to submit to the Malta Financial Services Authority its audited financial statements, annual return and any changes in the company structure as might be required from time to time.

In addition, the company would have to submit on periodic basis its VAT returns, if registered for VAT and its tax return on an annual basis.

In addition, if companies require special licenses to operate in niche markets such as gaming, insurance and others, it would also be bound to report to the competent authorities as required by the specific legal act governing the license issued.

Request a Call Back

For a live discusion or consulting request a phone call back. Submit your info via the form and one of our expert advisor will get in touch in 24 hours or just send us an email.

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