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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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Register a Non Profit Organization in Malta

November 2, 2012, 9:05 pm
BridgeWest

The Maltese foundations and associations are regulated by the Second Schedule of the Maltese Civil Code.

An association opened in Malta is an organization between three or more persons with defined objectives to be reached through the dedication of efforts and resources by them and others (who may join voluntarily). The patrimony of the association is distinct from that of the members, its administrators or any beneficiaries.

The statute of the association created in Malta must contain the name and registered address, the objectives, the modality of accepting and withdrawing membership, details regarding the organization of the general meetings and the activities during it, the name and modality of electing the administrators and the composition of the board of administration, the legal representation, the name of the representatives resident in Malta, the availability date (if necessary).

It’s mandatory to state the objectives of the association formed in Malta, otherwise the foundation deeds are considered null and the association is no registered in the Registrar.

The objectives on an NGO established in Malta cannot be changed after registration, for example an association with social purposes cannot pursue goals that don’t have a social nature.

The general meeting of a Maltese NGO is taking all the major decisions and has to be convened at least one time a year.

In case of termination of an NGO opened in Malta, the assets must be donated to a similar association.

A foundation registered in Malta is an organization of assets designated to fulfill a specified purpose or for the good of named persons or class of persons. Just like in the case of the associations, the patrimony of the foundation is distinct from that of the members, its administrators or any beneficiaries.

A foundation opened in Malta can be formed only by a public deed inter vivos or by the last will of a testament. The minimum value of the assets necessary to form a foundation is 1164.69 €. In certain cases, if the foundation is established for social purposes or for non-profit making, the value is lower (232.94 €).

The deed of foundation must stipulate the name (including the termination foundation), the registered address, the objectives, the value of the funds, the names of the persons from the board of administration and if not appointed yet the modality of their appointment, the legal representation, the availability term, the name and details of the local representative, the name of the beneficiaries (if it’s a private foundation), the availability of the foundation(according to the law, the foundations cannot last more than 100 years).

The board of administrators of a Maltese NGO are managing and representing the foundations. The administrator can be a non-resident but in this case, a local representative must be appointed. 

Both types of non-profit organization are acquiring their legal personality by registering the foundation deeds and statutes at the Registrar of Legal Entities.

 




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