Being self-employed in Malta is quite advantageous from many points of view. The sole proprietorship in Malta is the simplest business structure available and often selected by entrepreneurs from overseas. Our company formation agents in Malta can guide both local and international entrepreneurs in starting a business in this country.
Quick Facts | |
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Who can register a sole proprietorship in Malta? | Both residents and non-residents who want to start a business in Malta. |
Documents for starting a sole trader in Malta | – valid ID for nationals, – specific licenses and permits, – social security number, – residence permit for non-residents |
Authority in charge with sole trader registration in Malta | Maltese Business Registry |
Business name | The sole trader can use his/her own name |
Bank account for sole proprietorship in Malta | Apart from the personal bank account |
EORI for sole traders in Malta | For import and export activities |
VAT registration | For purchases made outside Malta, the VAT registration is required. |
Time frame for sole proprietorship registration in Malta | Around 10 days |
It can sign contracts (YES/NO) | Yes |
Possibility of hiring staff (YES/NO) | Yes |
Taxation of sole traders in Malta | 35% income tax rate |
Deductions for sole proprietorship | For: – advertising, – travel expenses, – rent, – training, – internet and phone bills |
Support for sole trader registration in Malta (YES/NO) | Yes |
Advantages of sole proprietorships in Malta | – flexibility, – advantageous tax system, – less bureaucracy, – fast incorporation |
Free case evaluation for non-residents in Malta | Yes, for starting a business in Malta as a sole trader. |
No, the formalities for opening a sole proprietorship in Malta are quite simple, respecting the conditions for registration. Here is what you need to know about starting a sole trader in Malta:
The formalities for registering a sole trader in Malta can be entirely handled by one of our company incorporation specialists in Malta. We can guide both local and foreign entrepreneurs to start their activities as sole traders in Malta.
No, sole traders in Malta do not require a minimum share capital like in the case of sole proprietorships. This is a great advantage from a business point of view, yet, one must observe the taxation for this kind of structure. The Malta Financial Services Authority is the institution that oversees the fiancial activities in the insular state.
Specific diplomas that attest to the qualifications or the profession must be provided at the time the sole proprietorship is registered in Malta. We remind that foreign citizens and Maltese nationals can register sole proprietorships in the insular state, helped by our company formation agents in Malta. You can send your inquiries and let us help you with the documents and registration formalities of a sole trader in Malta.
Yes, special licenses and permits must be obtained for certain operations, like running a catering business. Otherwise, the qualifications of professionals are sufficient for establishing the activities in Malta as a sole trader.
The income tax and the capital gains must be observed by sole traders in Malta. A maximum of 35% as income tax is imposed, but it depends on the marital status, children, and other aspects. The registration for taxation in Malta can be made with the help of our specialists, so feel free to discuss with us.
Sole traders in Malta are advantageous business structures because there is no need for the same registration steps as limited liability companies. Having fewer formalities is quite appealing to both local and international entrepreneurs in Malta who can concentrate on other aspects concerning the new business. The valid ID and a copy of the qualifications are sufficient for sole proprietorship registration in Malta. The ownership is full for sole traders in Malta, and this means that the responsibilities enter the attention of a single person.
Malta is a great financial hub that hosts a large number of international companies activating in different sectors of interest. The business environment is stable and sustained by a series of encouragements offered by the Maltese government. The insular state is quite advantageous in matters of geographic location because Malta has worldwide connections that sustain the business in a wide range of sectors. The workforce in Malta is another solid point in front of foreign entrepreneurs looking for stability, and skilled staff. Here are some facts and figures that highlight the economy and business in Malta:
Would you like to register as a sole trader in Malta? You can simply send your inquiries to our team of company formation specialists in Malta and let them help you and guide you. Please contact us right away and ask for our support.