Opening a company in Malta can be very easy for foreign investors if they meet all the requirements of the Commercial Code and benefit from assistance in drafting the documentation needed for the incorporation. Once the trade name is approved and the memorandum and articles of association are filed with the Companies Register, the company is almost ready to start operating. However, before that one must also check if any special licenses are required. The last steps imply registering for taxation and for VAT with the Inland Revenue Department. Also, if intending to hire personnel a Maltese company must register as an employer and obtain a PE number.
The PE number must be obtained by Maltese employers in order to be able to retain and pay the taxes related to the national insurance for their employees. These payments are established under the final settlement tax reporting procedures. The final settlement tax (FSS) is also used to deduct the taxes paid by an employer at the end of the fiscal year.
The contributions to be withheld by Maltese companies for insurance purposes fall under the Social Security Act of 1987. These contributions have been divided into Class One and Class Two contributions. The Maltese employer number is a 6-digit reference.
Our lawyers in Malta can provide you with information about the Social Security Act and the national insurance contributions to be withheld by employers.
Maltese companies can file for an employer number online or directly at the Inland Revenue Department. The documents to be submitted are:
The company must also provide information about the number of employees, the date of their employment and information about the business. It takes about three working days for the Inland Revenue Department to process the PE number application.
Once the employer number has been issued, the company must register its employees with the Employment Training Corporation.
If you need assistance in registering a business or applying for an employer number, do not hesitate to contact our law firm in Malta.
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