In Malta the most common form of corporate entity is the limited liability company, which may be either private or public. In order to set up a limited liability company approval must be obtained by the Registrar of Companies. Subject to certain requirements being satisfied, a company can be incorporated within 48 hours.
A company must have at least one shareholder and one director. A trading company must also have a company secretary. The minimum share capital can be as low as €240 and other costs incurred for the registration of a company are minimal.
The incorporation of a company involves the preparation of the Memorandum & Articles of Association, which must be signed either by the shareholders directly or by VCS representatives acting via a power of attorney. The amount of share capital must be deposited in a local bank in order to incorporate the company.
Once the company is set up, this amount can either be withdrawn or, if a bank account will be required, the amount transferred as the initial balance.
Once all the documentation is finalised and submitted to the MFSA (the Authority responsible for the companies' register), the official company documentation is available in 48 hours. The date of incorporation will be the date when the documentation has been submitted.