HISTORY: The making of Malta’s history dates back over 4000 years ago, when Sicily’s inhabitants, decided to travel to the island and explore it. Travelling to Malta from Sicily also included the transfer of livestock, seeds and agriculture utilities. To this day, there is evidence of Sicilian presence in many caves that are located around the coasts of Malta. Years later, the Malta’s settlors started developing buildings and houses of particular architectural design, whilst also receiving tools and equipment by their relatives and friends that remained in Sicily in order for them to work and develop the island. Locations such as Tarxien Hagar, Qim and many others show clearly the effects of such developments and predate historical treasures such as the Stonehenge and the pyramids for more than 500 years, thereby rendering them as few of the oldest existing structures known to human kind.

 

It has been supported by many that the Phoenicians also entered Malta at some point, as the word ‘Malta’ is Phoenician and is translated to ‘Refuge’. It is said that the Phoenicians remained in Malta for up to the last 320 years and it is also believed that the Maltese language was influenced by Phoenicians. Subsequent influence from many cultures and events, including the Roman Empire during the 2nd Punic War, the Arab nation, the raid from the Vandals back in 395 AD and finally St. Paul’s influence who introduced Christianity to the people back in the early 5 8 AD, making Maltese one of the first nations to have accepted Christianity.

Mata saw its greatest change after the Great Siege, where many Turkish and Maltese troops found death. After the end of the Great Siege, Valletta, a city that was built to honor the Grand Master who guided the troops through the siege which in turn resulted in the defeat of the Turks in 1572. The years passed and during the end of the 1974, Malta was eventually declared a Republic within the Commonwealth which was signified by the appointment of Sir Anthony Mamo as its first Maltese President.

 

 

THE CLIMATE AND TOURIST ATTRACTIONS: Malta’s climate during the summer season has been characterized as one of the warmest temperature averages in the European Union, whilst in the winter season the lowest temperature goes down to 7 to 12 Celsius. It enjoys an around 3000 hours of sunshine on a yearly basis and twice the amount as cities in the most part of the northern half of Europe. It is recognizable the fact that Malta enjoys a longer duration of daytime during the winter days, in comparison with other cities in the UK and Russia. Malta, having  a more than 7000 years of rich history, possesses a variety sites for every visitor, including but not limited to Megalithic temples, underground catacombs, forts and churches.

 

 

DOING BUSINESS IN MALTA: There are essentially two common forms of legal entities that are used:

 

1. Private Limited Company (LTD); and

2. Public Limited Company (PLC).

 

 

TAXATION: The corporate tax in Malta is 35% on the profits made by the company which can be evidenced by its audited accounts. Tax refunds however are available to shareholders and many other mechanisms that have as an effect the reduction of tax which in the case of holding companies it can be reduced to a 0% and a 5% for companies that conduct trading activities, provided that all the requirements are met. Under all circumstances organizations possessing the relevant shipping license may be exempted from taxes in Malta. Malta is a party to a large number of Double Taxation Agreements (over 60, and is negotiating even more) and possesses English speaking educated workforce, thereby rendering the island as a popular business vehicle for international companies.

 

 

The main characteristics of a Malta company are:

 

• SHAREHOLDERS should be at least two, either a physical or a legal entity.

• DIRECTOR should be at least one, either a physical or a legal entity and does not have to be resident of Malta.

• SECRETARY should be at least one, only a physical entity however yet does not have to be a resident of Malta.

• REGISTERED OFFICE is a requirement for all Maltese companies.

• ANNUAL RETURNS must be submitted.

• REGISTRAR FEES will depend on the share capital of the company.

• MINIMUM SHARE CAPITAL for PRIVATE companies, is EUR 1164.69 (20% must be paid)

• MINIMUM SHARE CAPITAL for PUBLIC companies is EUR 46,587.46 (25% must be paid)

• SHARE CAPITAL can be in any currency (foreign or domestic)

• MEETINGS of director(s) and shareholders must be held in Malta, in order to satisfy the effective control and management requirement.