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Weather in Malta

17.3°C clear sky

clear sky

Time Zones:

New York

Malta

Shanghai

" Serving the world...

...from Malta "

Corporate Services

Corporate Services - Formation of a Maltese Company

IMPORTANT NOTICE

Regulations on shipping companies pursuant to the Merchant Shipping Act have been issued on 30th April 2004, entered into force on the 1st May 2004 and were last amended by Legal Notice 411 of 2007.

You may view the new regulations by clicking here


A Maltese company established for the purpose of registering a vessel under the Malta flag is formed with a minimum of:

  •   one person (or company) as shareholder;
  •   one person (or company) representing the board of directors;
  •   Share capital of €1164.69 which could be rounded up to €1200 (1200 shares of €1 each), of which a minimum of 20% is paid up or the equivalent in any  recognised currency.

 

 

REQUIREMENTS :

1. Proposed company Name:

It is suggested to forward a few company names so that we may check with MFSA on their availability and their eventual reservation. All company names should finish with the word “Limited” and the names must not included words such as “Trust” and “Fiduciary” or any related words. The proposed name is reserved for a period of three months and may be renewed if another application is made.

 

2. Special Power of Attorney:

A Power of Attorney authorising us to form and maintain the company as per attached specimen duly signed by the Shareholder/s. Kindly note that the signature/s should be authenticated..

 

3. Letter of Acceptance:

A letter of Acceptance from the director/s of the companies duly signed.  Kindly note that the signature/s should be authenticated. A draft may be produced upon request.

 

4. Powers of the Board of Directors

Whether the Board of Director/s should be vested with full powers (inclusive of the sale of vessels and registration of mortgages) or purely with limited powers (that is, to register vessels under the Malta flag only).  In the latter case, a resolution by the shareholders would be required for any transaction to take effect such as the sale of vessels and registration of mortgages.

 

5. Percentage of the Quorum at Shareholder’s meeting.

This will not be applicable in the case of a single member company.

 

6. Copies of passport/ID card or a recent statute/goodstanding certificate, whichever is applicable, of the shareholder/s and director/s.

 

7. Additional Proviso in the Memorandum of Association:

Whether you would like to include an additional section within the Memorandum of Association authorising us to effect the following transactions, when required:

 

  • The maintenance of the company in goodstanding;
  • Provisional Registration of vessels under the Malta flag;
  • Permanent Registration of vessels under the Malta flag;
  • Deletion of vessels from the Malta Registry.     

 

 

 

 

 

In case you would not like to authorize us for the maintenance of the company, another Power of Attorney duly completed by the director/s will be required upon formation of the company to enable us to maintain the company in goodstanding.

 

8. Due Diligence requirements

In accordance with the Prevention of Money Laundering and Funding of Terrorism Regulations we are duty bound to obtain and continuously update the details of your records held by us.  It is of paramount importance that the required information is made readily available for us to establish and maintain our business relationship but more importantly for all parties concerned to be compliant with local as well as European legislation.  Please enquire within for further information on the above requirements.

 

9. Company Formation fees.

To facilitate matters, it is advisable to send the above information in advance including the names/full residential addresses and the number of shares to be subscribed by the shareholder/s, and to fax to our office the Special Power of Attorney.   The original (duly signed) to be dispatched to our office thereafter.

A draft Memorandum and Articles of Association will be forwarded to you upon request

Corporate Services

Corporate Services - Formation of a Maltese Company

IMPORTANT NOTICE

Regulations on shipping companies pursuant to the Merchant Shipping Act have been issued on 30th April 2004, entered into force on the 1st May 2004 and were last amended by Legal Notice 411 of 2007.

You may view the new regulations by clicking here


A Maltese company established for the purpose of registering a vessel under the Malta flag is formed with a minimum of:

  •   one person (or company) as shareholder;
  •   one person (or company) representing the board of directors;
  •   Share capital of €1164.69 which could be rounded up to €1200 (1200 shares of €1 each), of which a minimum of 20% is paid up or the equivalent in any  recognised currency.

 

 

REQUIREMENTS :

1. Proposed company Name:

It is suggested to forward a few company names so that we may check with MFSA on their availability and their eventual reservation. All company names should finish with the word “Limited” and the names must not included words such as “Trust” and “Fiduciary” or any related words. The proposed name is reserved for a period of three months and may be renewed if another application is made.

 

2. Special Power of Attorney:

A Power of Attorney authorising us to form and maintain the company as per attached specimen duly signed by the Shareholder/s. Kindly note that the signature/s should be authenticated..

 

3. Letter of Acceptance:

A letter of Acceptance from the director/s of the companies duly signed.  Kindly note that the signature/s should be authenticated. A draft may be produced upon request.

 

4. Powers of the Board of Directors

Whether the Board of Director/s should be vested with full powers (inclusive of the sale of vessels and registration of mortgages) or purely with limited powers (that is, to register vessels under the Malta flag only).  In the latter case, a resolution by the shareholders would be required for any transaction to take effect such as the sale of vessels and registration of mortgages.

 

5. Percentage of the Quorum at Shareholder’s meeting.

This will not be applicable in the case of a single member company.

 

6. Copies of passport/ID card or a recent statute/goodstanding certificate, whichever is applicable, of the shareholder/s and director/s.

 

7. Additional Proviso in the Memorandum of Association:

Whether you would like to include an additional section within the Memorandum of Association authorising us to effect the following transactions, when required:

 

  • The maintenance of the company in goodstanding;
  • Provisional Registration of vessels under the Malta flag;
  • Permanent Registration of vessels under the Malta flag;
  • Deletion of vessels from the Malta Registry.     

 

 

 

 

 

In case you would not like to authorize us for the maintenance of the company, another Power of Attorney duly completed by the director/s will be required upon formation of the company to enable us to maintain the company in goodstanding.

 

8. Due Diligence requirements

In accordance with the Prevention of Money Laundering and Funding of Terrorism Regulations we are duty bound to obtain and continuously update the details of your records held by us.  It is of paramount importance that the required information is made readily available for us to establish and maintain our business relationship but more importantly for all parties concerned to be compliant with local as well as European legislation.  Please enquire within for further information on the above requirements.

 

9. Company Formation fees.

To facilitate matters, it is advisable to send the above information in advance including the names/full residential addresses and the number of shares to be subscribed by the shareholder/s, and to fax to our office the Special Power of Attorney.   The original (duly signed) to be dispatched to our office thereafter.

A draft Memorandum and Articles of Association will be forwarded to you upon request