Starting an Online Shop

Or maybe you know someone who is educated in this matter who could assist me? I understand I'd probably have to pay for this kind of information, any recommendations on helpful and affordable people?

Thanks!

good topic,
hope they'll answer you

Hi haribo,

the side you certainly have to look into is the VAT question. Check out this info for details :

http://www.vat.gov.mt/docs/small_undert … exempt.pdf

As a small business entity you will probably be under the threshold for charging VAT but you should register and get a VAT number.

You would need to declare taxes on any profits made if you want to be correct so you would need to keep books.

It might be worthwhile to think about using a free shop hosting site or paying for your hosting. It doesn't cost that much and might be better in the end. I'm not saying anything against bigcartel , it is just something I would consider if I was thinking of starting an online shop.

Cheers
Ricky

I wouldnt register a company. Minimum you'd be paying for setup would be about 3000 Euros or more depending on who you choose. YOu would also need to register for VAT, etc if you are a company and comply with filing returns. Firms charge about 250 per return for a small firm. you would need 4 of these per annum, plus filings for salary payroll etc if you want to pull a salary. plus audit. Annual running fees for a small concern would be about 3000-4000 euros per annum exc VAT.

Heres my 2 cents but dont hold me to the advice.
Setup your domain in another jurisdiction US, UK wherever.
Any funds which are transmitted to a non Malta account are tax free essentially.
So record revenue in Non Malta based account.
If your product is shipped out of Malta, you ship it out at zero value for customs or nominal 1 euro.
You collect revenue on your website via paypal or some other billing firm connected to a non Malta account.

Technically you havent sold from Malta

good luck