Businesses thinking about continuing their business operations in a different jurisdiction, can do so without winding up the company in the foreign country. Thanks to The Continuation of Companies Regulations (Legal Notice 344 of 2002 as amended by Legal Notice 352 of 2003 and 181 and 186 of 2006), a company incorporated in Malta can continue operating outside of Malta, while a a foreign company can start doing business in Malta without having to wind up the foreign business.
This process can happen successfully if the foreign company intending to migrate to Malta is similar to a Maltese company and vice versa. In general, advantages of company redomiciliation include a reduction of costs in the foreign country, access different markets as well as the possibility of less stringent regulatory provisions in the foreign country.
If a business decides in redomiciling a company in Malta, it will benefit from a main advantage that is tax-related. The Maltese islands provide a highly advantageous tax system that has been in place since 1948 and is approved by the European Union and the Organisation for Economic Co-operation and Development (OECD) since 1948. This system allows companies to claim tax credits which can potentially result in an effective tax charge of 5% to be paid in Malta.
For more information or assistance in relation to the above, including the required documentation to commence such process, you can get in touch directly with one of Directors, Ms Joceline Caruana on firstname.lastname@example.org
The Fairwinds Management team is ready to assist in drafting the necessary documentation related to both inwards and outwards redomiciliation. We also liaise with the authorities for a successful process.