Conditions created in Malta for offshore companies?

Resident companies:

Resident.

Types of companies:

    International holding companies;
    International trading companies.


Founders:

Any person may be authorized by the shareholders.

Shareholders:

A minimum of 2 (for private companies). May be legal entities and individuals. Restrictions on the residence does not, however, to get tax breaks they do not need to be residents of Malta. Possible nominee services. For Exempt Companies - exempt cpmpanies - may have one shareholder.

The minimum capital:

MTL 500 (19.07.2005 - USD 1,400. Course - 2.80). At least 20% of this amount must be paid at registration. In the case of the provision of nominee services agents require full payment immediately. If capital is not paid in cash, you need an expert opinion on the valuation of the property.

For the trading company - at least Lm1.245 (≈ USD 2.800). No less than 20% of the amount must be paid at the time of registration;

For the holding company - Minimum Lm1.070 (≈ USD 2.500). No less than 20% of the amount must be paid at the time of registration.

Stock:

Bearer shares are not allowed.

Director:

At least 1 (for private companies). Allow the participation of Corporate Directors. May be individuals or legal entities. Restrictions on residence there. Data on the management are entered in the state register. However, to maximize the benefits and the benefits of agreements to avoid double taxation, there is a practical, not a legal requirement to appoint the directors of Maltese residents. The usual dosage is rated Maltese company.

Secretary:

At least 1. Only individuals. If the director - an individual, it can also hold the position of Secretary. If the director - a legal person, the Secretary shall be assigned to another person.

Registered office:

Necessarily an office in Malta.

Annual Meeting of Shareholders:

Required.

Annual report:

Required.

Access to information:

Information about the founders served in the public record and available to the public.

Annual Accounting:

Mandatory.

Audit:

Required.

Nominee Services:

As long as possible. Are companies with a special license. Nominal system services may be canceled in a few years.

Actions permitted:

Any non-proscribed activities. A special license for implementation of banking and insurance services.

Registration period:

1-2 weeks.

Taxation:

The standard rate of 35%. The payment of dividends to non-residents, they get a refund: If a trading company effective rate of tax paid in Malta, is 4.17%, in the case of a holding company - 0%. Reimbursement is obtained no later than 14 days after the end of the month in which the tax was paid. Company may apply to the tax office for obtaining confirmation of their status for 5 years (may be renewed), during which the tax is to be paid immediately at a reduced rate.

In order that the company can enjoy tax benefits:

     The founders of the company must be non-residents;
     The company must conduct their activities outside Malta. Otherwise, it will lose its preferential tax status.
    Meet the requirements for trading and holding companies.

Tax on capital:

Real estate:

The tax rate is applied to the purchase of real estate at 12% (Final Withholding Tax) on the cost of such a sale. In some cases, a person who carries out the sale, may elect to be taxed at the standard rate on the profits at such sale.

Securities:

The standard rate applies to residents. Capital gains in the secondary sale of certain securities by non-residents are excluded from taxation.

Value added tax:

18% on most goods and services. Tax cuts used for exceptional cases.

Withholding tax:

Dividends - 0%;

Interest - 0%;

Royalty - 0%.

Damages:

Losses from trade may be reimbursed any other income of the current year. Losses from trade can be carried forward without any restrictions, and reimbursed by any other income.

Capital losses can be offset against capital gains in the current year. Capital losses can be carried forward without any restrictions, and reimbursed by future capital revenue.

Trading Companies International Trading Company.

In order to enjoy tax benefits the company may carry on in Malta only the following activities:

    Purchase in order to export goods produced, assembled or processed in Malta, provided that such purchases are not made by the person who directly or indirectly owns more than 15% of the equity of the international trading company;
    Trade with other international trading company;
    Management of resident insurance subsidiary whose activities are conducted only with non-residents;
    Provision of management, administrative and other services to collective investment funds, who are residents of Malta and licensed to conduct this activity, if a scheme by which the Fund operates, are offered exclusively for work outside Malta.

Holding Companies International Holding Company.

In order to enjoy tax benefits:

    A company can only receive income from dividends, interest, royalties and capital gains;
    Income must be received by the Company from foreign sources;
    The company must have a qualifying holding, which means that the Maltese holding company directly owns at least 10% of shares in non-resident subsidiary, listing the dividends, or meet one of the following conditions:

•     Amount of the investment in a foreign company exceeds MTL 500,000 (USD 1,400,000);

•     Maltese holding company may, at its discretion, to purchase or the right of first refusal to purchase the remaining shares of the foreign company;

•     Maltese holding company has the right to take a position itself to appoint a director or directors on the board of directors of the foreign company;

•      Maltese holding company owns the shares of a foreign company to promote their own business (eg, a strategic stake in the company, which the company has the largest contract).

• The agreement on the avoidance of double taxation:

• With 43 countries. Since Ukraine is ready for signing.

Advantages:

•     High reputation, Malta is in the 2 - th group list FSF (Financial Stability Forum), is not in the list of the OECD, is not in the list of FATF, is not in the list FinCen;

•     Low tax burden;

•     EU membership and its benefits: dividend scheme, registration for VAT, the free market;

•     Wide networks of double taxation;

•     Opportunity to open a bank account in Malta;

•     Strategic location;

•     English-speaking population;

•     Good infrastructure.