1.Is setting up an offshore company legal?
As long as there are no criminal intentions involved such as tax evasion, money laundering, trading without proper license, etc., the setting up of an offshore company is completely legal.
2.What is the number of Directors and Shareholders which is required to form an Offshore company in Malta?
A minimum of in shareholder and a minimum of one Director is required for an offshore company formation in Malta
3.Is the information of the company officers available to the public?
The names of the company officers are published in the company records. If you do not want to make the names public, the services of Nominee Officers can be availed.
4.Is paid-up capital required for Offshore company incorporation in Malta?
5.What are the accounting requirements for the Offshore Business?
According to the law in Malta, all the accounts must be maintained at all times, and these accounts along with the Tax Filings, must be submitted every year.
6.Is physical presence in the bank necessary for opening a Bank Account?
This depends upon the bank in which you are opening your account. Many of the banks may not require your physical presence, but in some of the banks, you have to be physically present while opening a Bank Account.
7.Can there be a bank account dealing in different currencies?
After opening a bank account, you can opt for the option of a multi-currency account which will allow you to transact in multiple currencies.
8. When will I receive my corporate documents?
After the incorporation of the company, the corporate documents of the company will be available in two to six days.
9.Can we open a private account alongside an account in the name of the company?
Yes. You can apply for a personal account as well as an account in the name of your company.
10.What will happen if the annual renewal fee is not paid?
In case the annual renewal fee is not paid, the bank may close the account at any given time, and the authorities can impose a penalty on the entity.