Opening a company and getting ordinary residency

I used a consultant they had me all set up before I moved here bank accounts and all. I can’t imagine doing it without to be honest. Things like intro to business banking with BOV ICC can only happen via advisors and a lot - A LOT of things require pieces of actual paper with signatures to be carried around to the right people. I had to courier around a 100 signed papers etc.

The wheels here are mainly turned by who you know so feeding the general machinary of business with cash tend to make things happen.

Thanks for answering.

Choosing to hire a consultant to take care of this how much will it cost?

Depends what you want. Most foreigners will want a 2 country system to make best use of the tax system ie. 6ish % vs 35% Corp tax -  so it depends on your needs.

Could be 2 or 3 thousand or 8 thousand

Would it make sense to take care of the ordinary residence first? I'm guessing the costs of this process are much lower.

Jon_Snow wrote:

Would it make sense to take care of the ordinary residence first? I'm guessing the costs of this process are much lower.

To get your residence card does not cost anything.

Hi,

Thx for answering.

Can this be done online or it needs to be done Locally?

Jon_Snow wrote:

Hi,

Thx for answering.

Can this be done online or it needs to be done Locally?

Malta is like time traveling to pre fax era. Everything done face to face with paper.

Ok, what documents should I bring when travelling to Malta so I can move forward with this?

Jon_Snow wrote:

Ok, what documents should I bring when travelling to Malta so I can move forward with this?

it's a long and complex process, assuming you think you're competent to do this on your own - then surely you understand already before asking this that the answer is lengthy and hugely dependent on your situation.

You'd find much more relevant and complete information on government websites.

Jon_Snow wrote:

Ok, what documents should I bring when travelling to Malta so I can move forward with this?

If you  meaning your residency card you will need your passport, proof of health insurance, if you are going the self sufficient route you need to prove you have enough funds and probably a copy of your lease, you can find all this information on line.

To open a company and obtain resident visa have different rules for 3rd country nationals than that of schengen citizen. For Schengen citizen no investment is required to obtain a resident permit but for 3rd country nationals investment is required. I did not find the date of this conversation but as in June 2018 I think the scheme of ordinary resident is no more available for 3rd country residence. Detailed information is available on internet through google pls read that. Moreover, on internet through Google many Law or Immigration firms have given advertisement but many of them are general law firms and do not much know about residence permits but smelling a foreigner they charge very high fee.

I think for a person who has little knowledge of office procedures if personally comes to Malta and makes some inquiries about incorporating a company after making few visits to Identity Malta can apply for a resident permit. Incorporating the company is 3 or 4 days job for a new visitor to Malta and to complete formalities to apply for resident permit to Identity Malta will take bit longer. However, after successful submission of application for resident permit a blue receipt is issued but than the applicant cannot leave Malta until the resident permit is received who may take 2 or 3 months.

In nutshell the resident permit for 3rd country nationals is not all that easy

Opening a company is not a big issue. But after opening the company Schengen Citizens need to show reasonable capital and apply for resident permit.

3rd Country Nationals are required to deposit in local Maltese bank a big amount of Capital.

Lets assume company is established and resident permit is issued in the beginning but the test to renew resident permit after one year will come when the non Maltese would need to submit management accounts (in some cases audited accounts). If the accounts do not show good business and payment of tax than renewal of resident permit will face lot of issues.

Law is that for 1st 5 years permit will be renewed for one year for which application to Identity Malta will have to be made every year and after 5 years resident permit will be issued for 5 years at a time.

Therefore, having obtained resident permit for 1 year by establishing a company (self employed) the business plan should be prepared before starting this process so that strong annual accounts be prepared to get the resident card renewed after 1 year by identity Malta.