A European Societas (SE) is an organization created in Europe to promote business by giving other companies a chance to function in the region with limited restrictions that could exist in their parent countries. Malta has contributed by providing a regulation that enables a SE to be established in the state. The presence of SE in the state has a positive effect as it amplifies business possibilities and gives a better footing for big business deals. On the other hand, companies in search of a type of incorporation in either of the member states controlled by EU could find it valuable since it is managed on a narrow set of guidelines run by an integrated management system.
Creation of a Societas Europea
In Malta, SE is a public limited company (PLC) structured with an independent constitution and expected to have a minimum share capital of € 120 000. As a general rule, an SE should be created from more than one company. Companies constituting the SE should have registered offices within the EU and they should be governed by the regulations of different Member states. The other mechanisms in which a SE can be created are through the formation of a subsidiary or a holding firm.
The Registration of a SE company in Malta
The government of Malta made the incorporation of SE companies less complicated by making the process similar to that of registering a public firm. This means the process can be simply completed when the registration documents are effectively issued to the Registry of companies in the state. The public company rules and regulations in the state immediately become the SE rulebook and it goes into effect the moment the SE registration certificate is produced.
SE companies are flexible to locate their offices in any member state voted for by their stakeholders. This is also the case for transfers, their offices can move to any member state without any legal complications, however, the company has to adhere its regulations with the laws of the destination. It's also imperative to point that the registration of a SE could be hindered if the agreement to the Directive 2001/86/EC (agreement for employee involvement) has not been settled.
The Company name tag
Societas Europea companies are mandated to use the 'SE' abbreviation in place of PLC.
The SE management system
Similarly to the public limited companies (PLC), the Societas Europea companies are run by a board of directors who make the executive decisions on the everyday business of the company. These are hired by the stakeholders of the ES company who have the power to fire them depending on their needs. The clerical issues of a Societas Europeas company make it a requisite to employ a secretary.
Societas Europeas tax levies
The companies are liable to tax levies just like any other limited liable company in the state of Malta.
As you might have probably guessed, the aforementioned details aren’t the ultimate. To acquire more details and insights into the the Socitas Europea legal structure, one can reach out to SIGTAX. Our expert team of lawyers, accountants and consultants is ready to assist you in each step. Our lawyers can provide you with finer details on the legal aspects pertaining to the Societas Europea system in Malta so that you don’t skip any necessary steps.