Foreign entrepreneurs can set up various types of companies in Malta, however the most employed type of business form is the limited liability company because it offers many advantages. Also, many enterprisers consider partnerships when setting up businesses in Malta. Nevertheless, once the partnership reaches a certain financial threshold and the partners want to expand their operations, they can choose to change the company’s status to a private limited one. The same principle applies to private limited liability which can become public companies.
Our lawyers in Malta can assist you with the registration procedure for any type of company in this country.
The most frequent changes in company status in Malta is turning a private company into a public one. The Companies Act in Malta also provides for this change by allowing the private company to amend its Memorandum and Articles of Association. Considering the differences between the two types of structures, one must take into account the following aspects of the private company:
When changing a private company into a public one, its bylaws must be amended as to permit changes related to its share capital, number of shareholders and listing requirements. Also, a resolution of the board of directors must be passed.
When changing company types in Malta, the shareholders are required to announce all the changes brought to the company’s bylaws to the Trade Register. They must also submit other relevant documents with the Registrar, such as:
The change of company type will occur once the Trade Register takes the documents into evidence.
For assistance in amending the bylaws of the company, you can contact our Maltese law firm.
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