Company verification has become quite common nowadays and it is needed by many foreign enterprisers wanting to do business in another country. That is why, before purchasing a company in Malta, going into business with one person/company or signing a contract, it is highly recommended to verify the respective company. A thorough verification can be done through company due diligence which is the most employed type of business verification one can perform in Malta. A Maltese law firm can conduct an extended background check on the desired company and find out if it has any debt, what its financial and legal status is.
The most reliable source of information that is consulted when verifying a Maltese company is the Registrar of Companies. The Maltese Registrar of Companies contains all relevant documents about the shareholders and the company’s current status. The Trade Register is very reliable because all documents received upon company registration or ulterior amendments must be signed or authenticated by one of the directors or company secretary. The Trade Register also verifies all information before publishing it. The Trade Register is part of the Malta Financial Services Authority (MFSA) that also contains information about companies.
Among the documents the Registrar of Companies and the MFSA maintain, for company verification one can obtain company reports and certified copies after official documents held by the two authorities.
For company due diligence, you can request the legal services of our lawyers in Malta.
The European Business Register is another source of information when checking the status of a Maltese company. The European Business Register stores information on all the companies registered in Europe.
Other sources of information are diverse companies that can perform verification procedures in Malta for their clients. These types of companies will usually have access to information from the Companies Registrar without conducting due diligence procedures. These types of companies will usually collect a fee for the services they render.
As mentioned in the beginning, due diligence is one of the most employed methods of verifying a company in Malta because it is tailored on the requirements of the individual or company seeking these services. Company due diligence is usually requested in merger and acquisition cases, when it is very important to know one’s future business partner. Due diligence can imply the verification of the legal, financial or commercial background of a company in Malta.
Another way of checking a Maltese company is the Internet: there are many websites which provide information about companies in this country. The most reliable sources are governmental websites, where one can find very useful information on various companies in Malta.
You can contact our law firm in Malta for details about the information you can obtain with the Trade Register.
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