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1 www.equinoxadvisory.com Copyright, Equinox Advisory Ltd. 2015. Malta Limited Liability Companies Information Package for Prospective Companies 2016 Brochure (+356) 2137 6242 [email protected] www.equinoxadvisory.com Equinox Advisory Perfectly Aligned With Your Needs

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Page 1: Malta Limited Liability Companies - Equinox Advisory€¦ · About Equinox Advisory ... Malta Limited Liability Companies ... offshore and back-office services. Malta offers the lowest

1www.equinoxadvisory.com

Copyright, Equinox Advisory Ltd. 2015.

Malta Limited Liability Companies

Information Package for

Prospective Companies

2016 Brochure

(+356) 2137 6242

[email protected]

www.equinoxadvisory.com

Equinox

Advisory

Perfectly Aligned With

Your Needs

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Brochure Published By

Equinox Advisory Ltd.

Publisher: Equinox Advisory Ltd.

36,

Archbishop Street,

ValletaVLT1447, Malta

Date of Issuance: 24th December, 2015

DateofPublicaion: 2nd January, 2016

Document Version: 1

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Contents

1. About Equinox Advisory ................................................................................................. 1

2. About Malta ................................................................................................................... 3

3. Malta Limited Liability Companies ................................................................................ 5

3.1 GeneralInformaion................................................................................................... 5

3.2 Directors, Shareholders and Company Secretary .............................................................. 7

3.3 RegistraionofCompanies........................................................................................... 7

3.4 OtherRelevantRegistraionsandOngoingCompliance...................................................... 9

3.5 Coninuaion,MigraionorRe-domiciliaionofForeignCompaniesintoMalta........................ 9

3.6 ForeignCompaniesEstablishingaBranchinMalta.......................................................... 10

3.7 TaxTreatmentofMalteseCompanies........................................................................... 11

4. How we can assist you ................................................................................................. 13

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Since its inception in 2008,

Equinox has grown into one

of Malta’s consultancy firms

of choice within the Maltese

jurisdiction.

We operate a one-stop shop setup

encompassing legal, economics,

corporate and technology services

and as such offers all the services that

one would require for incorporation

of a limited liability company in Malta.

AboutEquinox Advisory

Ourservicesinclude(butnotlimitedto)taxmiigaion

consultancy, registraion for tax, joint venture

agreements, contract drating, applicaions for

applicable licences, acquisiion of inance, business

planning, accouning services, regulatory support,

payroll services and investment appraisals, under the

convenience of one roof. Today Equinox stands for

compeiivelypricedserviceswithoutcompromiseon

quality.

EquinoxAdvisory’s soluionsare fully comprehensive.

We also provide white label services to a number of

domesicandinternaionalbusinesspartners.

Ourclientshaveincludedconsoriaofcompaniesand

individual investors, muli-naional companies, audit

irms,lawirms,inancialinsituions,businessadvisory

irmsandhighnet-worthindividualsacingeitheralone

or in groups.

Clientsintheareaofcompanyformaiongenerallyhave

one thing in common – they want to make use of Malta’s

fully transparent, yet favourable tax environment.

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In an increasingly impersonal

business world, we pride

ourselves on taking a personal

interest in everything we do

for you. We also vouch to give

you the individual attention

that you deserve as our client.

In everything we do, we strive

to tailor our approach to

your individual needs and

requirements.

Equinox takes quality assurance very seriously. We

firmly believe that what we do reflects our name –

both organisationally and also individually for the

consultants working on an assignment. We therefore

make it a point never to compromise on our rigorous

quality standards despite our competitive prices.

Further details on the

range of professional

services provided by

Equinox may be found

on our website

www.equinoxadvisory.com

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Over the past decade, Malta

has capitalised in its strategic

location to successfully position

itself as a primary European

jurisdiction of choice for

offshore and back-office services.

Malta offers the lowest effective

corporate tax and VAT rate within the

EU and has been branded as one of the

top tax-friendly states in the world by

jurisdiction comparison magazines like

Forbes.

AboutMalta

Malta has always strived to be at the forefront

of innovaion and commercial acivity within the

Mediterranean and Western European areas.

Since the early 90’s, the urge to become one of the

earliestadoptersofe-Governmentgainedimpetusand

heavy investment in infrastructure ensued.

In the mid-1990’s, an industrial policy providing a

framework for the services economy to lourish was

also laid out and subsequently implemented.

Thisentailedastronginvestmentinhumanresources,

which was seen as key to the development of the

services economy.

In2004,MaltaaccededtotheEU,furtherpuingiton

the radar and helping it integrate with the rest of the

European economies, and has since then coninued

working hard to achieve and maintain a standing as a

recognisedreputablebusinessjurisdicion.

Malta’s tax regime, which

has been approved by the EU

and the OECD, is applicable

to any industry.

Further information on taxation in

Malta can be found on our website.

www.equinoxadvisory.com

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One of Malta’s key

ingredients in being able

to achieve its successes

is undoubtedly the

business-friendliness

of its macroeconomic

policy framework.

Payroll costs (including both salaries and taxes) remain

very compeiive relaive to the rest of the EU and

othercompeingdesinaions.This,however,doesnot

come at the cost of quality, as Maltese workers are

among themost producive in thewhole of the EU.

Macroeconomicpoliciestokeepinlaionincheckarein

place and the Government invests heavily in achieving

andmaintainingahighly-educatedworkforce.

Pracical regulatory policies are also in place, which

make iteasier toget thingsgoingwhenstaringupa

business.

A limited liability company can be setup in a few days

ifalldocumentaionisinorder.Thisiscomplemented

by easy access to regulators and Government

oicials, together with full compliance with the EU’s

Service Direcive, which is intended to facilitate life

for businesses and increase transparency for irms

providing services in the single market.

Maltese regulators are known to act as facilitators while

retaining rigorous regulatory standards, especially

in those areas of business which require paricular

atenion tocustomercare (suchasinancial services

or gaming). Malta’s stable Government also means

that the instances of stop-go policies are minimised

and are conducive to stability and resilience in the

macroeconomic environment.

Underlyingthisstrategicposiioningarethe

qualiiesoftrustworthiness,robustregulaionand

reliability that have become synonymous with

Malta.

Within just a decade and a half,

Malta has managed to:

» Keep the momentum it had built in preceding years

in tourism;

» Atractover10%oftheremotegamingbusinessworldwide;

» Posiionitselfasthelargestmerchantshippinglagin the EU;

» Increaseitsworldwideinancialservicespresence,

withalltypesofinancialinsituionsseingupshopin Malta – a trend that also transpires from Equinox

Advisory’s incoming business; and

» Isolate itself from, and remain virtually unafectedby,the2008inancialcrisis,withaveryshallowrecessionin2009lasingonlytwosuccessivequarters.

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Malta Limited Liability Companies

3.1 General Information

Thelimitedliabilitycompanyisthemostcommonlyusedcorporatelegalenityfortrading,duetoanumberof

advantageswhichitpresents.Inparicular,asmenionedabove,Maltesecompaniesmaybeneitfromvarioustax

beneitswhicharefurtherdescribedbelow.

Maltese company law is regulated by the Companies Act (Chapter 386 of the Laws of Malta) which is based on

theU.K.CompaniesAct,1985andtheInsolvencyAct,1986.TheCompaniesActhasbeenamendedperiodically

toallowforimplementaionofapplicableEUDirecivesoncompanylaw.TheMaltaFinancialServicesAuthority

(“MFSA”)istheauthoritytaskedwiththeregistraionandregulaionofcompaniesinMalta.

A company is, by deiniion, formed by means of a

capital(the‘sharecapital’)dividedintosharesofaixed

amount held by its members.

The ixed amount would correspond to the nominal

value of the share, which is not necessarily the same as

the market value of the same share. Shares generally

confer upon their holders rights to dividends, to the

proceedsonawindingupandtovoteatmeeingsas

well as certain duies, such as that of paying up any

unpaid dues on the shares. Shares may be divided into

diferent types and classes, and diferent rights may

atachtoeachtypeandclass.

The iniial issued share capital may be increased

through an ordinary or an extraordinary resoluion

of the company, depending on the provisions of the

memorandumandariclesofthecompany.

Acompanymustholdonegeneralmeeingperyear;if

anyothergeneralmeeingishelditisdeemedtobean

extraordinarygeneralmeeing.

One of the most obvious beneits of this type of

structure is the limited liability of the company’s

shareholders: while the liability of the company itself

(asaseparatejuridicalenity)isunlimited,theliability

of its shareholders is limited to the amount, if any,

unpaidonthesharesrespecivelyheldbyeachofthem.

Of course, despite this general rule, there are some

excepional circumstances where liability can be

imposed on certain oicers the company, such as

situaionswhere the directors have been involved in

reckless, wrongful or fraudulent trading.

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Limited liability companies can be private or public. A

private limited liability company is one where the right

to transfer of shares is limited, the number of members

cannot exceed ity (50) and invitaions to the public

to subscribe to shares or debentures of the company

are prohibited. A private limited company must have

a minimum authorised share capital of one thousand

onehundredandsixtyiveEuro (€1,165)ofwhichat

leasttwentypercent(20%)mustbepaidup.Thename

of a public limited company must end with ‘Limited’

(‘Ltd.’).

A private company can also be established as a private

exempt company where the number of persons

holding debentures in the company is not more than

ity (50). Private exempt companies are exempted

from various regulaions under Maltese law. Private

exempt companies may have a single member where

allthecompanysharesareownedbyoneperson.This

may be the case on incorporaionormay occur at a

later stage through transfer of the shares. It should be

notedthattheaciviiesofasinglemembercompany

aregenerallylimitedtoonemaintradingacivity.

A company that is not a private company is a public

limited company. A public company must have at

least two (2) members and may ofer its shares or

debentures to the public, by following the necessary

iniial public ofering procedure. A public limited

company must have an authorised share capital of at

least forty-six thousand, six hundred Euro (€46,600)

ofwhichat least twenty-iveper cent (25%)mustbe

paidup.Addiionally,itneedstohaveatleasttwo(2)

directors and two (2) shareholders. The name of a

public limited company must end with ’public limited

company’ (‘p.l.c.’).

A private company may change its status and

ulimately be converted into a public company. Such

conversion occurs through the amendments made to

MemorandumandAriclesofAssociaionandthrough

anextraordinaryresoluion.Thisresoluionordecision

has to be delivered to the Registrar of Companies for

registraion. Along with such resoluion, a writen

statement of the auditors accompanying the balance

sheetrelecingthenetassetsofthepreviousfour(4)

months before such conversion is to be delivered to

the Registrar. A declaraion by any director that the

inancialsituaiondidnotchangebetweenthedrawing

upofthebalancesheetillitsdeliverytotheRegistrar

is also to be delivered. Members who are against

companies going public have the right to have their

shares redeemed according to the terms agreed upon.

Alimitedliabilitycompanymusthavearegisteredoice

address inMalta.Achangeoftheregisteredoice in

Maltacaneasilybecarriedoutbyaresoluionofthe

directors and a statutory form which is to be registered

with theMFSA.A registeredaddress inMalta canbe

provided by Equinox Advisory.

A Maltese company that chooses to amalgamate with

another company, can either merge by acquiring the

other company or by forming a new company. When

merging two companies by forming a new company, all

assetsandliabiliiesaredeliveredtothenewcompany.

The merging companies do not need to go through

a process of winding-up but are simply dissolved.

Equinoxcanassistinallmatersrelaingtothemerger

oracquisiionofcompanies.

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3.2 Directors, Shareholders and Company Secretary

Barringafewexcepionsdiscussedabove,alimitedliabilitycompanymusthaveatallimesaminimumoftwo(2)

shareholders who may be either private individuals or bodies corporate (or both). Shareholders do not need to be

Maltese.Sharesmayalsobeheldinaiduciarycapacitybyappropriatelyestablishediduciaryortrusteecompanies

duly licensed by the MFSA. Despite the anonymity which this set-up currently afords, ani-money laundering

legislaionrequiresdisclosureofthebeneicialownerstotheMFSAaswellastobanksatwhichthecompanyintends

to open a bank account.

A limited liability company must also have at least one (1) director (for private companies) or two (2) directors

(wherethecompanyispublic).Thedirectorsofacompanymanageandadministerthecompanyandmaybeheld

personally liable in a number of circumstances. Directors do not need to be Maltese but a Maltese resident director

is recommended. A body corporate can also be a director. Equinox can provide directorship services in certain

circumstances.

Every company must also have a company secretary and where there is a sole director, such person cannot act also

as the company Secretary unless the company is a private exempt company. Equinox can provide company secretary

services in certain circumstances.

3.3 Registration of Companies

AcompanymayberegisteredinMaltabytheshareholdersortheirrespeciveauthorisedatorney/ssubscribingto

aMemorandumofAssociaion.TheMemorandumandAriclesofAssociaiongenerallyliststhecompany’sobjects

andaciviieswhichmayincludetradingand/orholdingaciviies.

WithintheMemorandumandAriclesofAssociaion,thefollowinginformaionmustbeindicated: » Name of the company;

» Thename,addressandideniicaiondetailsofthesubscribers(shareholders)thereto; » Whether the company is a private company or a public company;

» TheregisteredoiceofthecompanyinMalta; » Theobjectsofthecompany; » Detailsregardingtheauthorised,issuedandpaid-upsharecapital; » Thenumberofdirectorsandtheparicularsoftheirstdirectorsandsecretary,and

» Themannerinwhichtherepresentaionofthecompanyistobeexercised.

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TheMemorandumofAssociaionisgenerallyaccompaniedbytheAriclesofAssociaion,whichdetailtheinternal

regulaionsofthecompany.IftheAriclesofAssociaionarenotregistered,itisassumedthatthemodelAriclesof

AssociaionfoundintheFirstScheduletotheCompaniesActhavebeenadopted.

Intermsofaddiionalinformaion,thefollowinginformaionanddocumentaionwouldberequiredinconnecionwiththeincorporaionofacompany:

RegistraionfeesarepayabletotheMFSAuponincorporaion.Thefeesvarydependingonthevalueofauthorisedsharecapital. Itshould be noted that such fees are independent of fees charged by Equinox.

AcompanycomesintoexistencefromthedateofregistraionindicatedinitsCeriicateofRegistraion.Furthertoregistraion,thecompany may open bank accounts with any bank and in any currency. Equinox is able to assist with such arrangements.

Please contact us for further details.

1. Shareholder Details

Inrespectofeachshareholder,beneicialowner,director, bank signatory and the secretary of the

Company:

1. Anaposilledcopyoftheirrespecive

passports–illustraingpersonaldetailsand

photograph; and

2. Auilitybillorbankstatementissuedtoeach

of them within the last three months; and

3. A bank and professional reference addressed

to us and issued in respect of each of them; and

4. A detailed Curriculum Vitae in respect of each

of them; and

5. Apersonaldeclaraionissuedbyeachofthem

conirmingthats/hehas:(i)neverbeenconvicted

ofanyofence(otherthanaminorofenceinconnecionwiththeuseofamotorvehicle);and(ii)s/hehasneverbeenadjudgedbankrupt;and(iii)hasneverbeensubjecttoaninvesigaionbya governmental, professional or other regulatory

or statutory body; and (iv) never been a director,

shareholderormanagerofabusinessenitywhichhasbeenthesubjectofaninvesigaionasaforesaid,orwhichhasbeenadjudgedbankrupt, compulsorily wound up or has made any

compromise or arrangement with its creditors.

2. CeriicatesofGoodStanding

CeriicatesofGoodStandingissued(inoriginal)bytherelevantcompetentauthoriiesinrespectofanycompanyorotherenityholding,directlyorindi-rectly, any interest in any company i n the Company

to be incorpo

3. Eniiesholdinginterestin Company

Aposilledcopiesoftheceriicate/sofincorporaionandtheMemorandaandAriclesofAssociaion(orother statutory documents) of any company or other

enityholding,directlyorindirectly,anyinterestintheCompany to be incorporated.

4. Structure diagram

AdetailedstructurediagramillustraingallMaltaandnon-Maltaeniiesinthegroupwhichshallcomprisethe Company to be incorporated and all the directors

andulimatebeneicialownersthereof.

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3.4 Other Relevant Registrations and Ongoing

Compliance

Acompanyisrequiredtoregisterforincometaxpurposesuponregistraionandtosubmitataxreturneveryyear.

ThecompanymayberequiredforregisterforVATinMaltaandVATreturnsmustgenerallybeiledeverythree(3)

months.Addiionalregistraionsarealsorequiredwherethecompanyintendstoemployindividuals.

AcompanymustileanannualreturnontherelevantMFSAformuponeachanniversaryof itsregistraion.Fees

which depending on the authorised capital of the company will be payable upon submission of the annual return.

AuditedannualinancialstatementsmustalsobepreparedinaccordancewithInternaionalAccouningStandards;

howevercertainsmallcompaniesareallowedtoileabridgedbalancesheetsandabridgedproitandlossaccounts.

Equinoxisabletoassistwiththeongoingmaintenanceandcomplianceofacompanyincludingilingoftheannual

returns, income tax andVAT returns, payroll services and general administraion services. Please contact us for

further details.

3.5 Continuation, Migration or Re-domiciliation of

Foreign Companies into Malta

ACompanyformed,registeredorincorporatedunderlawsofanapprovedjurisdicionwhicharesimilartothoseof

Malteselaw,canberegisteredasconinuedinMalta.Thisisknownasre-domiciliaionorconinuaion.Thisprocess

providesastraighforwardsystemforthetransferofassetsandliabiliiestoMalta,withoutrequiringsuchtransfer

toinvolveanotherlegalenity,whichwouldpoteniallytriggerofpaymentofdutyandothertaxes.Addiionally,a

companyre-domiciledintoMaltawillbeneitfromvarioustaxbeneitswhicharefurtherdescribed.

Coninuaion,migraionore-domiciliaionisallowedifthecompanyallowssuchanacionundertheMemorandum

andAricles,ifthelawsoftheforeigncountrywhichformed,registeredorincorporatedthecompany,allowsthis

and if such a request is accompanied by the required documents from the Registrar of Companies. Such a company

isboundbylawtokeepproperaccouningrecordsandtohavesuchaccountsaudited.Ineverygeneralmeeing,

theauditoristopresentareportwhichcommentsontheaccountsoftheCompany.Anauditorisappointedunil

thefollowinggeneralmeeing.Equinoxisabletoassistwiththeconinuaion,migraionore-domiciliaionofforeign

companies. Please contact us for further details.

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3.6 Foreign Companies Establishing a Branch in Malta

AbodycorporateofanytypewhichhasbeenincorporatedorconsitutedoutsideMaltacanchoosetosetupaplace

ofbusinessinMaltawithoutbeingre-incorporatedinMaltaoracquiringseparatelegalpersonality.Suchanacivity

can be carried out by establishing a “branch” in Malta.

In order for a branch of an oversea company to be established in Malta, the following requirements must

besaisied: » A place of business within Malta; and

» ApersonresidentinMaltaandrepreseningtheoverseacompanyinrespectoftheaciviiesofthebranch.

TheoverseacompanymustregisterwiththeMFSAwithinone(1)monthfromestablishmentinMaltaandthefees

applicabletosuchregistraionareequivalenttothosefortheregistraionofnewcompanies.

Establishmentofbranchbringsoutanumberofobligaions:intheirstplace,anysigniicantchangesrelaingtothe

overseacompany(e.g.alteraionstotheconsituivedocuments,director/s,companysecretaryorrepresentaivesof

theoverseacompany),mustbenoiiedtotheMFSAwithwithinone(1)month.Furthermore,reporingobligaions

alsoariseinrelaiontotheaciviiescarriedoutbythebranch(e.g.annualdeliveryofabalancesheetandproit

andlossaccounts,retenionoftradebooksandrecordsconcerningtaxablesupplies,exempions,deducionsand

transacionsasrequiredintermsofVATlegislaion).Equinoxisabletoassistwiththeestablishmentofabranchin

Malta.

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3.7 Tax Treatment of Maltese Companies

3.7.1. Refund System in Malta

CorporatetaxinMaltaissetat35%onproits.However,non-residentshareholders,ifregisteredwiththeMaltese

regulatorandtaxauthority,receivecreditonanytaxpaidbythecompaniesontheproits.Adividendwarranthas

tobeproducedtotheInlandRevenueDepartmenttoatestthis.Therefundusuallyamountstosix-sevenths(6/7th)

of the tax paid. A claim for such credit, that is a claim for refund, is to be made with the Inland Revenue department.

Whenthenon-residentshareholderpaysthecorporatetax,theInlandRevenuegrantstaxrefundswhichefecively

reducessuchcorporatetaxto5%orless.Theratemaydependonwhetherdoubletaxaionreliefhasbeenuilisedor

whetherthedividendwasdistributedfromaciveorpassiveincome.Maltaboastsover67doubletaxaiontreaies,

mostlyfollowingtheOECDModelConvenion.

Thereareothercorporatetaxrefundswhichmaybeavailable,suchastheive-sevenths(5/7)refundofcorporate

taxpaidonincomederivingfromPassiveInterestorRoyalies.Thereisalsoatwo-thirds(2/3)refundavailablefor

shareholdershavingclaimeddoubletaxaionrelief.

EXAMPLE

NetProit €250,000

Taxdueat35% €87,500

BalancedistributedasdividendtoShareholder €162,000

RefundonTax €75,000 (30%ofincome)

TaxPaid €12,500 (5%ofincome)

Passive Interest and Royalties Example

NetProit €250,000

Taxdueat35% €87,500

BalancedistributedasdividendtoShareholder €162,000

RefundonTax €62,000 (25%ofincome)

TaxPaid €25,000 (10%ofincome)

Taxrefundtotheshareholderisnotsubjecttowithholdingtaxandthereisnowithholdingtaxoninterest.

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3.7.2 Flat Rate Foreign Tax Credit (FRFTC)

In cases of Maltese companies where income is solely received from overseas and double taxaion

relief is not possible, the Flat Rate Foreign Tax Credit may be applicable. The rate is at 25% of the

income or gain received by the company from overseas and it is calculated prior to allowable expenses.

3.7.3 Participating Holding Company

IfaMaltesecompanyholdstenpercent(10%)ofequitysharesinanothercompany,thiscompanymayqualifyasa

paricipaingholdingandmayapplyforafulltaxrefundorelsechoosetobetotallyexemptsothatnocorporatetax

is paid.

OthercriteriawhichmayqualifyaMaltesecompanyasaparicipaingholding,arewherethecompany: » Holdsatleastone(1)equityshareinasaidforeigncompanyandhasanopionorarightofirstrefusalover

the balance or the power to appoint a director;

» Holdsanequityshareholdingofatleast€1.165mforanuninterruptedperiodofatleast183days;

» Holds equity shares in furtherance of its business but such equity shares are not held as trading stock.

TheforeigncompanyofwhichtheMalteseisaholdingcompanyhastosaisfythreerequirements: » It must be a resident or must have been incorporated in the European Union;

» Itissubjecttoaminimumof15%foreigntax;

» Itdoesnotderivemorethan50%ofitsincomefrompassiveinterestorroyalies.

Ifnoneofthesethreeissaisied,inorderforthefullrefundorexempiontobemadeavailable,BOTHofthefollowingcondiionsmustbemet: » TheequityholdingbytheMalteseCompanyinthebodyofpersonsnotresidentinMaltaisnotaporfolio

investment; and

» ThebodyofpersonsnotresidentinMaltaoritspassiveinterestorroyalieshavebeensubjecttoanyforeign

taxataratewhichisnotlessthan5%.

Equinox is able to assist with all tax planning, structuring and restructuring requirements.

Please contact us for further details.

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How we can

assist you

Equinoxisabletoassistclientsinanyofthefollowingmaters:

» RegistraionofMalteseholdingandtradingcompaniesandpreparaionofnecessarydocumentaion;

» Assistancewiththere-domiciliaionprocess,includinghand-holdinginthedocumentcollecionprocessandliaisingwiththeMFSA;

» Services ancillary to registraion or re-domiciliaion of the company,including opening of bank accounts, applicaions for licences, dataprotecion,VATregistraionandregistraionwiththeIRDandtheETC;

» Taxplanningandadvice;

» Dratingofshareholders’agreements;

» Day-to-dayassistanceintherunningofthecompanyandancillaryservicesincludingilingoftheannualreturns,incometaxandVATreturns,payrollservicesandgeneraladministraionservices;

» Accouningandaudiingservices;

» Directorship,companysecretaryandregisteredoiceservices;

» Mergers,acquisiionsandrestructuringofcompanies;

» Assistanceinemploymentmaters;

» Assistanceindataprotecionmaters;

» Assistanceandtraininginani-moneylaunderingprocedures;

» Registraionoftrademarksanddomainnames;

» Provisionofcompeiionlaw/anitrustadvice;

» Dratingofcommercialagreementsrequired.

Further details on the

range of professional

services provided by

Equinox may be found on

our website

www.equinoxadvisory.com

Page 17: Malta Limited Liability Companies - Equinox Advisory€¦ · About Equinox Advisory ... Malta Limited Liability Companies ... offshore and back-office services. Malta offers the lowest

14www.equinoxadvisory.com

Copyright, Equinox Advisory Ltd. 2015.

36, Archbishop Street,

VLT 1447,

Malta.

(+356) 2137 6242

[email protected]

www.equinoxadvisory.com