Opening an LLC in Malta with an account in the Trustcom Financial system – from 5590 EUR

Located on an island in the Mediterranean, the Republic of Malta is one of the most attractive countries for doing business in Europe. The key factors for this are: political stability and modern developed tax and financial systems that ensure the constant growth of the country’s economy.

Doing business in this country, you are fully safeguarded from double taxation. Also, it should be noted that Malta is a European state and having a representative office here is beneficial not only from the special tax system, but also for the reputation perspective.

Doing business in Malta: Benefits

• Financial and economic stability. Malta is the second on the FSF list;
• Option to incorporate remotely. Our experts will solve all organizational issues with the beneficiary by phone or Skype, so that you will not have to personally be present in Malta. The time periods for incorporating a new company will be from two weeks, and a ready company in Malta can be purchased in one day;
• Low tax rates. The effective profit tax rate is 5%, but in some cases zero rate may apply;
• Exemption from income tax for owners of vessels with a carrying capacity of up to 1000 tons;
• Complete confidentiality of the beneficiary. The residents of Malta, hired as nominal representatives, will act on your behalf. Your personal data will be securely protected.

The current trend is that small countries are becoming financial business centers of the world, and Malta is no exception. Businesses are constantly looking for ways to reduce costs, and offshore is one of the options. However, the most challenging process is the proper execution of all the documents, because Malta is not a classic offshore. Below we will present to you the list of documents required for the procedures for registering a company and opening a settlement account, as well as expenses which you will have to incur, and some other key aspects.

Documents for registering an LLC in Malta with a Trustcom account

Two types of owners participate in the process of incorporating a company in Malta: a beneficial owner who owns at least 25% of the shares of the Maltese company, and an owner that owns less than 25%.

The beneficial owner with at least 25% should provide:

• Full resume covering background of professional activity;
• A copy of a passport certified by a notary;
• Application for opening a company on his/her behalf;
• A letter of recommendation from the bank with which he/she has been cooperating for the last 2 years;
• Declaration of ownership title for property;
• Copies of paid utility bills at the place of permanent residence, for the last 3 months. Copies should be certified by a notary;
• Income statement if the applicant is a public and/or political figure.

The second owner (less than 25%) should provide in addition also a copy of the foreign (travel) passport, application, copies of the paid utility bills and, if he/she is not an EU resident, recommendations from the bank to validate reliability.

Additionally, at least three options for the name of the future company should be provided.

Important notice: all documents should be translated into English.

Cost of incorporating and operating a company in Malta

Table 1 shows the costs of registering a company. They amount to 2591 EUR in the first year. Starting from the year two, the provision of a legal address and a contribution to the registry in total will amount to 891 EUR.

Table 2 shows the annual maintenance costs of the company.

Table 1: Costs of incorporation

 Table 2: Annual Company Service

Account in the Trustcom system for LLC in Malta

The first good news is that with the IP 1002 SC promo code you get a 10% discount on the commission for opening an account. The second good news is that the discount is reserved for you even if case if you opt to receive our qualified assistance in opening an account.

Trustcom payment system was established by Italians and is located in Lithuania. It is an electronic money institution, holding a licence issued in Lithuania for non-limited activity.                                                                                                           

The time periods for registering an account will take no more than 10 days (as per usual business practice, it takes only a couple of days), moreover, the support service can speak English, which is very convenient. You can manage your account online.

However, there are two more aspects to consider when working with Trustcom:

• Funds can only be held in Euros;
• It is mandatory for your company to have a resident of the European Economic Area (EEA).

But as you can see, the first is hardly an issue at all, and we can come up with the solution of the second paragraph.

Like any financial institution, Trustcom reserves the right to consider a new client individually. We will help you keep all the requirements in the loop when incorporating a company and will guide you through fast and reliable opening of account: [email protected]

One more important aspect: to be able to fully process the registration of an account, you will be required to pass a due diligence check, as Trustcom is required to verify your trustworthiness. To this end, you will need to put together and submit an extensive documentation package. And we are here to help you through this process as well. We will save your time, resources and funds.

In table 3 you can see the rates of the Trustcom payment system.

Table 3: Expenses for maintaining the account in the Trustcom payment system

A few details of the Trustcom system to consider:

• Delivery of a debit card to you is a sign that everything worked out and you can use the account;
• The daily limit for withdrawing money from a card is 5000 EUR;
• Commission is 2 percent + 0,7 EUR;
• 100 000 EUR – transaction limit per month;
• Issuing a new card will cost 50 EUR.

Stages of LLC registration in Malta with an account in Trustcom system :

1. Email us [email protected], informing us of your intention to open a company in Malta. We will contact you and clarify all the details; 
2. You will be required to collect documents for further work, we will provide a list of documents;
3. After the conclusion of the contract and payment, we start working on your company’s incorporation in Malta and opening an account with Trustcom;
4. When the company registration and account opening are completed, we will send you corporate documents and accesses;
5. You can start your business and make a profit.

If you still have questions, feel free to ask them at [email protected].