Redomiciliation of companies in Malta

There are a plethora of benefits that come with setting up a company in Malta. Apart from the attractive tax rates, the Maltese jurisdiction offers numerous incentives for investors who want to do business in Malta. As a result, a lot of companies are redomiciling to Malta in order to benefit from the Island’s business pro-environment. Re-domiciliation is when a company transfers its registration from one jurisdiction (country) to another.
 
Advantages of Re-domiciling to Malta 
 

  • Taxation benefits 

Malta has one of the most favorable tax regimes not only in Europe but on a global scale.
 

  • Low incorporation and maintenance costs.

Unlike other jurisdictions, Malta actually makes the company incorporation process easier for investors. Not only is setting up a company in Malta easier, but maintenance costs are also manageable as well.
 

  • Exemption from Duty on Documents.

Maltese companies carrying out international activities can benefit from numerous taxation exemptions.
 

  • There is no controlled foreign company legislation or transfer of pricing rules.

 

  • There are no thin Capitalization rules and exit taxes, wealth taxes, payroll based taxes or trade taxes.

 
Requirements for Re domiciliation 

  • The memorandum and articles of Association must include a provision that allows the company to re-domicile to another jurisdiction.

 

  • Company shareholders should approve the migration to Malta.

 

  • Constitutive documents of the company must comply with Maltese Legislation.

 

  • Strong evidence in the form of certificates proving the company is compliant with all the requirements of incorporation.

 

  • A list of company directors and secretaries before and after re-domiciliation.

 

  • The evidence that there are no legal procedures pending in the home country.

 
Redomiciliation Procedures 
 

  1. For full ownership of a provisional domiciliation certificate in Malta, the company should prepare some documents and submit them to the companies register.
  2. After submission, these documents are then checked to see if they comply with the relevant regulations. The company will then receive provisional registration in Malta. A provisional Redomiciliation certificate is issued by the registry.
  3. In the next six months that follow, the company must render documented proof to the registry proving that it is no longer registered in a foreign jurisdiction. Failure to render documented proof will result in termination of the company’s name from the register.
  4. Upon obtaining proof that the company is no longer registered in the original jurisdiction, the registry will issue a Redomiciliation certificate confirming that the company is registered as domiciled in Malta.

 
Professional Assistance
For more insights on re-domiciliation in Malta, you may contact SIGTAX. Our invaluable team, which consists of expert lawyers, accountants and consultants will give you detailed information and counsel during each step.  Our lawyers can provide you with finer details on the legal aspects pertaining to re-domiciliation in Malta so that you don’t skip any necessary steps.

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