Cyprus an International Business Center in Europe Cyprus an International Business Center in Europe Kyriakos Tramountanellis x / Tuesday, March 29, 2022 0 96 Article rating: No rating In this article, we provide a summary of the main factors which have contributed to the success of Cyprus as an International Business center. Read more
Opening a Bank Account in Cyprus Opening a Bank Account in Cyprus Kyriakos Tramountanellis x / Tuesday, March 29, 2022 0 106 Article rating: No rating Opening a Bank Account in Cyprus - Procedure 2022. This article informs about the necessary documents and information required for the opening of a bank account in Cyprus or elsewhere. Read more
Cyprus VAT Registration - Explained in Simple words Cyprus VAT Registration - Explained in Simple words Kyriakos Tramountanellis x / Monday, March 28, 2022 0 64 Article rating: No rating 1. The charge for our review of your accounting records every 6 months will be Euro 100 + VAT (in total Euro 200 + VAT for the whole year) Read more
Accounting services Accounting services Kyriakos Tramountanellis x / Monday, March 28, 2022 0 73 Article rating: No rating My name is xxx. I'm looking for an accountant(+law) to work with my company on Cyprus. I already have a registered company(2 years) with an accountant firm working with me, but thinking about replacing it with somebody else. Could you please tell what is your fees for: - Nominee Services (Director, Secretary and Office address) - Final report+audit + 1 interim report - Tax certificate + yearly migration services(visitors visa) Thank you! Read more
Questions for Opening a Branch Questions for Opening a Branch Kyriakos Tramountanellis x / Monday, March 28, 2022 0 73 Article rating: No rating Opening a Branch in Cyprus Questions from a Client Read more
Company Formation - Malta Share Written By CYAUSE LTD Tags GCSGCS MaltaMalta businessMalta companyMalta incorporationMalta taxes 2022-04-20 Company Formation While company formation might seem like a daunting process, opening a company in Malta has various advantages. Our exceptional team at GCS Malta has outlined all the necessary steps and information you need to open a company in Malta. Types of companies in Malta Foreign enterprises wanting to set up a company in Malta can choose between different types of business entities according to the Maltese Companies Act, and depending on their needs: Private limited liability companies – the most common business form in Malta Public limited liability companies – can also be used by large businesses; General partnerships – suitable for small and medium-sized businesses; require at least two members with unlimited liability Limited partnerships – can be used similarly to general partnerships but requires at least one member with unlimited liability and one with limited responsibility Sole proprietorships – Fit for people carrying out business activities in their own name Investment companies – such as the SICAV (open-ended collective investment scheme) and INVCO (closed-ended collective investment scheme) Foreign businesses can choose between subsidiaries, liaison offices and branches in Malta. Requirements to open a company in Malta After choosing the proper structure, check out the requirements necessary to open a company in Malta: Deposit a minimum share capital depending on the type of company chosen Comply with the regulations applicable to company shareholders and directors according to their residency Appoint company secretaries Have a registered address for your company in Malta The Company Formation process Name Reservation (valid for three months) After deciding on a company name, a reservation valid for three months will be issued. After that, the name will be approved by the Registrar. If a private company, the name must end with ‘private limited company’, ‘limited’ or ‘ltd.’ If a public company, the name must end with ‘public limited company’ or ‘plc.’ Adoption of the Memorandum and Articles of Association The Memorandum and Articles of Association is a required contractual document that includes key information about the company such as company name, company directors, capital subscribers etc. The documents are then submitted to the Registrar of Companies in Malta. Deposit the minimum share capital with a Maltese bank The next step would be to deposit the share capital in an account opened with a bank in Malta. The minimum authorized capital for a private company is €1,164.69, and at least 20% of the issued shared capital must be paid upon signing the Memorandum of Association of a company. For a public company, the amount needs to be at least 25% of the issued share capital with a minimum of €46, 587.47 Issue of Certificate of Registration by the Registrar of Companies in Malta The last step would be to file the application and necessary documents with the Trade Register. Why Malta? A sound banking system English-speaking educated workforce Reputable jurisdiction and investor-friendly Low-tax jurisdiction but is not an offshore tax haven A highly ranked financial centre with a stable economy An extensive network of Double Taxation Agreements worldwide Low VAT rate and easy VAT registration of trading companies Possibility of re-domiciling/continuing a company into and out of Malta A competitive tax regime with the possibility of a 5% effective tax rate for non-Maltese resident shareholders Since Malta, is a member of the European Union since 2004, Maltese companies provide an effective solution as a European Union based company of choice All financial services fall under one regulator (MFSA), which is easily accessible, and companies can benefit from streamlined procedures, reduced bureaucracy and lower regulator fees Transfer of shares in a Malta Company usually is tax-exempt for non-residents provided that the Company owns no immovable property in Malta Why GCS Malta? Interested in setting up a company in Malta? At GCS Malta , our highly experienced corporate department can set up your company within 1 to 2 days from agreement on the contents of the Memorandum and Articles of Association. Contact us today to start the process and for more information on all our services. Written by Sarah Jane Gauci