Company Formation in Malta @ €345

Our initial contacts with FBS Malta were valuable as they pointed us in directions which could translate themselves in cost and time savings. We re-thought and tweaked our strategy and business model, in the line of the pre-incorporation advice received. We were also happy to note that contrary to other service providers, FBS Malta adopted a holistic service, truly the one-stop shop they claim to offer on their website. Secondly, they did not attempt to sell us a number of “ancillary services or products” as other service providers had suggested, like Malta holding companies and service companies, which promised fiscal benefits but ultimately any cost-benefit that such structures could have had were defeated by the Malta company incorporation fees. www.fbsmalta.com gave a focused and efficient solution. Furthermore, contrary to other service providers, which were in our view, one-dimensional in their approach, www.fbsmalta.com could, drawing on their expertise in various jurisdictions, offer us an array of products, which local service providers could not match. For example, taking note of our plan to offer ICT software solutions in East European Countries, www.fbsmalta.com suggested that the ideal vehicle should be a Cyprus Company, in lieu of a Maltese trading, because of the double tax treaty benefits between Cyprus and most countries of East Europe. This confirmed our impression, that some Maltese professional service providers, were just promoting a number of ancillary products to increase their offers, rather than finding an effective solution to our business model.

Having set the benchmarks, the next task was how to get started. A simple internet search yielded an adequate volume of information about Malta and the Malta company tax system. In Particular, the websites of the local regulators were also content-rich, which helped clarify some of our initial queries. Having ascertained the robustness of the Maltese fiscal and regulatory model, we decided to set up a number of international trading companies (mostly in ICT software services, igaming company and Malta hedge funds) and contacted a number of local firms. As a general note, we were pleasantly surprised by the high level training of the Maltese professionals, most of which are UK-trained and with highly developed linguistic skills (English is one of the official languages) and Italian, French and German also widely spoken.

All of us have a busy schedule, so we want an effective, low-cost and fast solution. We were drawn to FBS Malta because of their pragmatic approach. The forms leading to the Malta company formation and the licensing process were concise with an easy “tick-the-box” checklist for all supporting documentation that was required. We were at ease by this approach. Some service providers made the incorporation of a company, or the licensing of a Malta hedge fund or Malta gaming company, sound like rocket science, whereas FBS Malta were analytic and practical in handling our queries. Any follow-up questions e.g. timelines for incorporation, opening of bank accounts, banking solutions were promptly and cordially answered for by www.fbsmalta.com , who were also happy to set up meetings with a number of bankers. We were informed of all stages of the incorporation and licensing stages e.g. approval of company name, drafting of the constitutive documents of the company, submission of the executed Memorandum and Articles of Association, incorporation, application of VAT number etc; With regard to the igaming project, which requires a licence from the local regulator, we were assisted by the way by www.fbsmalta.com, knowing in advance what the next step was, as well as the projected time-lines and expenses. With regard to the licensing of hedge funds, www.fbsmalta.com set up a meeting for us with the Malta Financial Services Authority, who were very receptive and approachable in their approach. We shall probably be applying for a licence from the Authority, in which case we have no qualms in recommending www.fbsmalta.com

We sent a number of emails to some of the leading Maltese companies which appeared from a simple internet search, to compare services and pricing. We contacted a wide spectrum of professionals, law firms, audit and professional accounting firms. Our choice was based on the following:- 1. Simplicity; 2. Responsiveness and Availability; 3. Benefits; 4. Pricing After a thorough evaluation of the aforesaid criteria, our choice of service provider is Focus Business Services (Malta) For starters, we were attracted by the richness of the content on the website, which gave a comprehensive overview of the fiscal benefits with practical illustrations, full legal texts and the statutory requirements. This contrasted with the approach of other service providers, who were only willing to provide basic information e.g. share capital requirements, qualifications of directors, against the issuance of a pro forma invoice! Secondly, the firm was an international one, with offices in various jurisdictions, and pedigree, having been established for over 12 years, and judging from the number of associations and bank references, with a reliable and trustworthy track record. Our initial positive impressions were confirmed at a later stage, when we met their team at the Malta Offices located in one of the most prestigious areas of the island.