Malta Company Formation

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Malta

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Buying a European shelf company with VAT number

Whenever you need to start doing business immediately in a European country and you need a company with a VAT number, you don’t have to wait for the bureaucratic procedures.

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Partner Law Firms

We encourage you to contact our partner law firms in Bucharest: Rolegal and E&C, both part of our legal network.

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Tax Minimization Structures

BridgeWest is specialized in special corporate structures designed for tax minimization. No matter where you want to incorporate your company, you will need to consider how you can legally minimize costs.

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Company Liquidation in Malta

August 15, 2012, 4:06 pm
BridgeWest

BridgeWest handles company liquidation in Malta. For more information, please contact us.

There are two ways a company may be liquidated in Malta: voluntary or involuntary, according to the Company Law.

A company from Malta may be dissolved and then liquidated, if that is the general decision of the company’s members (voluntary dissolution) or a Court decision (involuntary dissolution).

The Court decision may be taken if the company hasn’t performed any commercial activities for more than two years, if the members of the company decrease bellow two and stays this way for more than six months, if the number of directors decrease bellow the requirements of the law and stays this way more than six months, if the company has severely violated the law or if the Articles of Association of the company are providing an expiration term for it.

The liquidator is appointed by the Court or the general meeting of the company’s members, usually the entity that took the liquidation decision. He must take all the actions that can help the liquidation process in Malta. A committee of liquidators may also be appointed if necessary.

If the liquidator considers that the company cannot pay its debts in the specific period of time, a creditors’ meeting must be appointed during which a report with all the company’s assets and liabilities must be presented.

The liquidator must also appoint annual meetings of the company’s members, if the process is taking more than a year. A report regarding the liquidation process must be presented during these meetings.

The liquidator must announce the creditors and contributors meetings in a newspaper and send to all the creditors and contributors notices regarding the scheduled meetings. A copy of each decision taken in this meeting must be registered in the Registry of the Superior Courts.

Any failure in these processes (organizing the meetings) brings penalties to the liquidator.

The company’s assets are transformed into cash if it’s necessary to pay all the debts and satisfy the claims of the creditors.

After this step, the liquidator must share the remaining assets to the company’s shareholders.

A new meeting must be appointed by the liquidator at the end of the process. During this meeting, he must present a report regarding the company liquidation process, including a scheme with the distribution of the assets. These reports must be audited first by one or two auditors or by Court.

A notification along with all the above documents must be sent to the Registrar within seven days after the meeting. As a result, the company will be erased from the Registrar.




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