FAQ Work Permit Malta
Yes, you need an offer of employment in Malta before you can prepare documents related to the application and/or onward travel to Malta.
Non-EU citizens do not have the right to reside in an EU country as a job seeker.
Once all the documents that need to be attached to the application are properly compiled, it takes approximately two to three months from the date of submission for the individual work permit to be issued.
Yes, if you submit an application for an individual work permit, you will receive a temporary permit to legally reside in Malta until the work permit is duly issued.
However, you will not be able to travel during this period.
No, the temporary permit is issued to you to reside in Malta.
After receiving the residence card / work permit, the applicant will be granted permission to take up gainful employment.
FAQ Bank Account Opening Malta
Due to the increasing compliance regulations that need to be adhered to, the process is becoming more and more tedious and lengthy.
Nevertheless, we have always found a way to successfully help clients open a bank account.
If an individual wishes to open a checking/savings account, the following documents are required:
- A copy of your passport or identity card;
- A recent utility bill or bank statement that clearly shows your home address (depending on the facility, it cannot be older than 3 months, and, in some cases, no older than 6 months),
- A bank reference from the current or previous bank that clearly indicates the number of years the customer has used the bank’s services and the individual’s financial status.
If a company wants to open a corporate bank account, the following documents are required:
- A copy of the company’s constituent documents, such as the Certificate of Registration; Memorandum & Articles of Association; Share Register; and, in some cases, a “Certificate of Good Standing” and a “Certificate of Incumbency” are required;
- A copy of the passport or identity card for each director, shareholder, beneficial owner, and authorized signatory;
- A bank reference for each director and beneficial owner of the company
- A utility bill or bank statement as proof of address for directors, shareholders, beneficial owners, and authorized signatories;
- Evidence supporting the declaration of assets of the beneficial owner, such as salary slips from previous employment, bank statements, etc.
It usually takes between six and eight weeks to open a local bank account, and in some cases the process can take about three months, depending on the institution and the complexity of the approach.
Yes, of course, we can help you opt for a quick solution to get started with the company’s trading activities.
We have good relationships with Electronic Money Institutions (EMIs) in the country and abroad where it would be possible to open an account within a few days.
Yes. In fact, we always suggest that a company should have at least two operating accounts at two different institutions.
From our side, we make sure that we introduce our clients to the local banks that are covered by the Depositor Compensation Scheme.
The Depositor Compensation Scheme is a rescue fund for depositors of failed banks licensed by the Malta Financial Services Authority (MFSA).
The Depositor Compensation Scheme is subject to an upper limit of EUR 100,000 per depositor.
FAQ Bookkeeping Malta
Of course.
Our team is more than equipped to understand the business model presented – the type of “brokerage” being offered and the corresponding service that would require a permit.
We are privy to certain “tricks of the trade” that can help us categorize a permit accordingly, such as: understanding whether or not you intend to maintain hold and control of client funds.
Then we will likely need to register you for MOSS and file returns along with VAT Returns on a quarterly basis from MOSS Returns.
Yes, there are penalties for delays as well as penalty interest on unpaid taxes.
Unfortunately, we cannot do this for the customer.
All documents concerning the company, including incoming invoices, outgoing invoices, and contracts processed through the company.
This also typically includes travel expenses, such as hotels and flights, which are settled through the company.
Please upload the documents online to our document platform.
There are 5 subfolders, which should ensure an overview for all:
- Agreements (contracts),
- Bank statements (account statements),
- Purchase invoices and receipts (incoming invoices and receipts),
- Sales Invoices and Receipts (outgoing invoices and receipts),
- Other (remaining documents concerning the company).
Yes, that is of course also possible.
We also have individual clients for whom we do the bookkeeping.
Here, we likewise offer the customer our assistance in dealing with the relevant authorities.
Yes, we can also take care of monthly payroll accounting for you.
Here, too, we can take care of registration and deregistration with the authorities as well as communication with them and – if necessary – support your employees with relocation.
If your new employee is not from the EU, we can also help with the residence permit.
We send our invoices through our system and the customer receives the invoice by email.
We, DW&P, settle the accounting after service provision.
This means that when the quarter is complete and everything is submitted, you will receive an invoice.
In Malta there are two major software providers: SAGE and Shireburn. Both are licensed in Malta.
We work with SAGE and are very satisfied with their service.
You will receive a monthly reminder email from us.
If we are unable to close the quarter from a customer because accounting documents are absent, those customers will receive an additional reminder to ensure that we can submit the accounting for the quarter on time.
FAQ Compliance Services Malta
Money laundering is described as the process by which the illicit nature of criminal proceeds is concealed or disguised in order to give these illicit proceeds a legitimate appearance.
This process is critical to criminals as it allows the perpetrators to make seemingly legitimate economic use of their criminal proceeds.
When a criminal activity generates substantial proceeds, the individual or group involved must find a way to control the funds without drawing attention to the underlying activity or the individuals involved.
Criminals do this by disguising the sources, changing the form or moving the funds to a location where they are less likely to attract attention.
Money laundering affects data subjects because the financial system can be used to channel illicit profits.
Therefore, data subjects must take steps to ensure that money obtained by unlawful means is not channeled and laundered through the system.
Relevant persons are required by law to implement internal systems to identify and mitigate money laundering risks and if money laundering is suspected, such persons must submit a suspicious transaction report to the Financial Intelligence Analysis Unit (FIAU).
- The Prevention of Money Laundering Act (Cap. 373 of the Laws of Malta);
- Regulations for the Prevention of Money Laundering and Terrorist Financing (Subsidiary Legislation 373.01);
- FIAU Implementation Procedures.
The Financial Intelligence Analysis Unit is a government agency established under the Prevention of Money Laundering Act (Cap. 373 of the Laws of Malta).
It is the body responsible for collecting, collating, processing, analyzing and disseminating information to combat money laundering and the financing of terrorism.
The unit is also responsible for monitoring compliance with the relevant legal provisions.
A business relationship describes a relationship that has an element of duration attributable to it.
An occasional business case refers to a one-off transaction that normally ends with the provision of the goods or services.
The difference in treatment arises from the ongoing monitoring obligations associated with business relationships.
This means that business relationships must be subject to ongoing monitoring, which includes both the monitoring of transactions and the updating of information, documents and data about the client.
This ultimately depends on the complexity of the business case.
Simple business cases can take up to a week, with the duration increasing with the complexity of the case.
As an EU entity handling personal data, we are required to process data in accordance with the General Data Protection Regulation DSGVO (EU 2016/679).
FAQ GDPR Malta
The Regulation (GDPR) was adopted in 2016 and entered into force 2 years later, on May 25, 2018.
A directive is a non-binding legal act. A regulation is a legal act that is of a binding character.
Thus, while Member States were not required to adopt the 1995 Data Protection Directive, but could do so at their discretion, with the introduction of the GDPR, Member States are now obligated to transpose this new Regulation into their domestic law.
If you are an organization operating in the EU, it affects you. However, not solely you. The GDPR also applies to organizations outside the EU, if they offer their services to persons within the EU. If data is processed and stored within the EU, then the GDPR applies.
Organizations can be fined up to 4 percent of their annual global turnover for a breach of the GDPR, or €20,000,000. These are the maximum penalties that can be imposed, but it depends on the violation. The GDPR rules apply to every processor and every controller – so ensure you give sufficient attention to the GDPR.
The short answer: yes. Personal data refers to any information that can directly or indirectly identify an individual. By processing a person’s first and last name, you are automatically subject to the regulation, just as you would be processing any other aspect of personal data. Personal information is not just your first and last name, but includes numerous personal identifiers.
A data controller is an entity that determines the purposes, conditions, and means of the processing of personal data. On the other hand, a data processor is an entity that processes personal data on behalf of the controller.
Lengthy terms and conditions are no longer enough. According to the GDPR, consent must be obtained in a transparent manner, and must be explicit. In some cases, consent is required, but it is not all about consent.
Explicit consent is a must when processing sensitive personal data – (no boxes checked). For other aspects of personal data, unambiguous consent is sufficient.
In this digital age, marketing strategies are critical to running a business, but those involved in marketing need to ensure they are compliant with the GDPR and e-Privacy rules.
If a minor is under the age of 16, parental consent is required for the processing of personal data.
Frequently asked questions about incorporating in Malta
The process to incorporate a company in Malta does not take much time.
Once the compliance team has given its approval, it will take a few days for the company to be incorporated and active.
Our team will prepare all the forms and the Memorandum and Articles of Association, this will take about one to two working days.
Once we have received the documents signed by you, we will endeavor to submit all documents to the MBR on the same or the next working day.
The MBR will then officially register the company within two to three working days.
In total, the company formation process will therefore take around five working days.
A Maltese company can be registered under any name as long as there is no other company registered under the same name or a very similar name.
However, the MBR may also refuse to register a company name if it considers such a name to be offensive or undesirable.
A company name can be reserved for a period of three months.
Such a reservation would ensure that the name is not taken over by another company.
Maltese company law provides for three types of commercial companies:
- Partnership en nom collectif,
- Partnership en commandite,
- Limited liability company.
The legal form “Partnership en nom collectif” has its obligations guaranteed by the unlimited and joint and several liability of all partners.
It can be founded by two or more partners and operates under a partnership name.
The legal form “partnership en nom commandite” also operates under a partnership name, but in this case the obligations are guaranteed by the unlimited and joint and several liability of one or more partners.
Unlike the “partnership en nom collectif”, not all partners have unlimited and joint and several liability in this case.
The most common form is the limited liability company, in which the liability of the members is limited to the amount – if any – that has not been paid up on the shares held by those members.
Yes, the Companies Act provides that in the case of a limited liability company, the minimum share capital shall not be less than €1,164.69. Meanwhile, in the case of a joint stock company, the authorized share capital shall not be less than €46,587.47.
In the case of a limited liability company, at least 20% of the nominal value of each share taken up must be paid up when the memorandum and articles of association are signed, while in the case of a joint stock company the amount paid up must be at least 25%.
A private company can be formed with one shareholder (single-member company) and have up to 50 shareholders, while a public company requires formation by at least two shareholders and has no maximum number of shareholders.
FAQ International Tax Malta
We do not recommend Malta for 75% of the requests we receive.
This always depends on the individual case and, above all, on the person’s perception of “worthwhile”. If you do not move to Malta, it is usually worthwhile from a profit of 750,000 EUR upwards. Or, if you do want to move to Malta, from a profit of 100,000 EUR.
Whether the tax office notices, or can prove it or not, is irrelevant to the fact that it can still be considered tax evasion if you are a resident of Germany and do not declare taxes.
The tax office does not have to prove anything, you do. The tax office makes the assumption, and you must prove otherwise.
First of all, for anyone who is not tied down and can imagine living in Malta. In our opinion, it is best suited for Internet entrepreneurs or international entrepreneurs who can work, and do work, from any phone or PC in the world.
It can be, but to analyze and structure everything you have us. There is no set pattern and no single formula that fits everyone. What is perfectly fine for one client may have disastrous consequences for another. Every case is different and every case needs individual advice.
FAQ Payroll Services Malta
We are responsible for setting up the payroll for both companies and their employees, starting from applying for the PE number, adding the company to JobsPlus, adding the account to the payroll software, registering the employees with the tax office and JobsPlus, and calculating the payroll each month and sending it to you and your employees.
Memorandum & Articles of Association (M&A’s) and a Certificate of Incorporation; M&A’s are necessary to indicate to the authorities who is the director of the company.
We provide the forms that need to be signed.
If the company has booked the entire package with us, we keep these documents from the time of incorporation.
When the payroll is ready, we will send the payroll and the remittance number and the amount to be paid to the tax office by e-mail.
All payroll documents,
- Monthly payroll,
- FS3 (summary of the content),
- FS7 (end-of-year evaluation).
Yes. We send an invoice every three months, in accordance with the number of employees in the payroll for that period.
Less than one month.
FAQ Legal Advice Malta
No, it is not necessary for you to be physically present in Malta. The Maltese Rules of Organization and Civil Procedure (Cap. 12 of the Laws of Malta) provide for such cases and allow lawyers to act on behalf of persons who are not present in the Maltese islands. For this purpose, you can grant us the power of attorney and we can act on your behalf.
There is no set time limit within which such matters must be completed. Therefore, we can never give an approximate time by which a procedure can be terminated.
Most actions may be barred by Maltese law after a certain number of years or months, so we suggest that you contact us immediately, ensuring that we can inform you of any statute of limitations.
We can never 100% confirm that you will win a case, or that you will achieve a favorable outcome, especially if the matter is pending before the Maltese courts or tribunals. However, before we initiate such proceedings, we will inform you of possible risks and consequences, and whether it is advisable to proceed.
Different procedures are usually associated with different fees. We therefore suggest that you contact us and we will advise you in more detail in this regard.
FAQ Relocation Services Malta
It depends on your needs, but usually about 4-6 weeks.
Preferably, at least 2 weeks before your trip to Malta.
No, we offer the moving service only within Malta.
A copy of your passport or ID card, some signed forms that we will provide you, or a contract in case of employment.
Mid-summer; school starts around the 3rd week of September. However, leases for the summer are very expensive, so it is important to consider that.
The QSI International School of Malta, Verdala International School, Chiswick House School, as examples.
So you can rest easy while we handle the interactions with the authorities.
EU citizens only need copies of passports. Marriage certificates, birth certificates, and other forms are requested only once living in Malta.
No, but we can provide consultation if needed.
Yes, our team of experts (led by our Banking Relationship Manager) can help you start a business and set up a bank account on the island.
Malta is a politically stable parliamentary republic with a free press and is considered a safe, secure and welcoming environment for investors to do business.
There are no international sanctions in force against Malta, which can also be attributed to the country’s transparent administration and economy, a strict legal system with little impunity and little scope for arbitrary spending of public funds.
The Maltese authorities have not identified any terrorist financing activities and the Maltese financial supervisory authorities consider the risk of terrorist financing to be low.
There is currently some political unrest on the island, which has led to a Transparency International corruption index of 54/100.
The country has been embroiled in a corruption scandal for some time, as some high-ranking ministers were also involved in the “Panama Papers” scandal.
On December 1, 2019, Prime Minister Muscat announced his resignation after activists called for his resignation in mass protests in connection with the murder of journalist Daphne Caruana Galizia.
He finally resigned officially on January 13, 2020.
He was replaced by the current Prime Minister, Dr. Robert Abela, who has promised to bring about some sweeping changes, including police reform and a special focus on the Ministry of the Interior to ensure that justice is served in its entirety.
The political situation should not distract from the fact that the jurisdiction remains extremely safe and welcoming to all foreigners and entrepreneurs.
FAQ Trademark Registration Malta
The registration of a trademark in Malta only provides protection within the territory or jurisdiction of Malta – whereas an EU trademark ensures the protection of intellectual property in all EU member states.
Therefore, there is no need for double registration.
Yes, we will make every effort to review your future “trademark” with the eSearch Plus and/or TM View option as well.
There is no legal obligation – but for aesthetic reasons we would certainly recommend it!
Usually between 4 and 5 months.
Of course!
We will only continue when you are satisfied with the content.
If approved, it would be valid for 10 years!
The registration fee costs 850 EUR and allows you to choose a Nice classification.
For an additional fee of 50 EUR you can add a second class and for three or more classes you have to pay 150 EUR for each class.
This decision is entirely up to you.
You can send your logo in both * .jpg and * .png format, but make sure it is in high resolution.
Yes. You will be informed when the EUIPO has approved the trademark.
Yes, it will conduct its own examinations independently.
The figurative mark you submitted and any corresponding wording.
Certification and confirmation of the protection of your trademark in all 27 EU member states.
