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Commercial Code in Malta

Commercial Code in Malta

Updated on Tuesday 19th April 2016

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Foreign investors opening companies in Malta are bound to respect the requirements of the country’s Commercial Law. The legislation for opening companies in Malta is comprised of several parts, each one of them referring to certain procedures. The Maltese commercial legislation is made up of:

  • -          the Commercial Code,
  • -          the Consumers Affairs Act,
  • -          the Doorstep Contracts Act,
  • -          the Standards Authority Act,
  • -          the Trade Descriptions Act,
  • -          the Trading Licenses Act,
  • -          the Product Safety Act.

The Commercial Code and its subchapters refer to the requirements companies must fulfill after their incorporation, while business registration falls under the Maltese Company Law.

The Malta Company Law

Company registration in Malta must abide by the Company Law which is made up of 6 chapters:

  • -          the Business Promotion Act,
  • -          the Co-operative Societies Act,
  • -          the Companies Act,
  • -          the Competition Act,
  • -          the Companies Fees Regulations,
  • -          the Malta Enterprise Act.

Among these, the Maltese Companies Act refers strictly to the conditions a company must fulfill in order to be allowed to operate in the country. The Companies Act was issued in 1995 and was last amended in 2004. The Malta Companies Act allows for the formation of several types of companies:

  • -          limited liability companies,
  • -          general partnerships,
  • -          limited partnerships,
  • -          branch offices of foreign companies.

The new Maltese Companies Act also provides for investment companies, such as the SICAV (open-ended collective investment scheme) and INVCO (closed- ended collective investment scheme) companies.

For legal assistance with the company registration procedures you can refer to our Maltese lawyers.

Opening a company under the Maltese Companies Act

Under the Maltese Commercial Law, local and foreign investors can incorporate a company under the same conditions. Depending on the type of company one wants to set up, at least one shareholder and a minimum share capital are required when starting a business in Malta. Under the Malta Companies Law, the minimum share capital to open a private limited company is 1,165 euros. For public companies the Companies Law requires a minimum share capital of almost 46,600 euros of which 25% must be deposited before registration.

Our lawyers in Malta will explain what documents you are required to file when setting up a company. You can also contact us if you need other information related to the Maltese Commercial Code.

 

 

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