In 2015, the Maltese government has enabled a new law through which energy and water providers now benefit from several incentives. The Regulator for Energy and Water Services Act, as it is called, also provides for the authority which will supervise companies operating in the energy industry in Malta now that the market has been liberalized.
Among the incentives granted to companies offering energy and water services in Malta is the PV Grant Scheme which provides for investments in the energy and water sector. Our Maltese company formation agents can offer more information on the incentives available in this industry.
How to set up a company in the energy industry in Malta
Under the Company Act and the Maltese Energy Law, an investor must first register a company with the Trade Register and then apply for the licenses through which they can offer their services. These licenses are issued by the Malta Resources Authority (MRA).
In order to register a company in the energy sector in Malta, one must first prepare the incorporation documents and submit them together with the details of the shareholders, directors and company secretary with the Companies Registrar. The most employed type of structure employed for setting up an energy company in Malta is the limited liability company. This is also suitable for small and medium-sized enterprises (SMEs) which are more and more used for starting a business in the energy industry.
Special requirements for SMEs in the energy sector in Malta
All Maltese companies operating in the energy industry must also comply with the related EU regulations and recent directives. Considering SMEs represent the largest share of the business entities in Malta, the Ministry for Energy imposed several regulations for SMEs offering this type of services. First of all, they must appoint energy auditors which will assist them in complying with the legal requirements for establishing the tariffs and setting up energy grids for private consumers. SMEs must also implement energy management system. It should be noted that a license from the Malta Transport Authority must be obtained when installing energy poles on the side of public roads.
For full information on the requirements to set up a company in the energy sector, please contact our company incorporation consultants in Malta.