Two Malta companies available

[Mike Forman]

We own two Malta companies which we consider to liquidate. Both have been registered for over 5 years and only held some trademarks with only 3 - 4 transactions several years ago.

Annual reports were filed and books audited. Also had a vat number but we will deactivate it. Both don't come with a bank account.

They have been incorporated in person in Malta and currently have a good accountant using his services and registered address with correct fees. We have visited on site a dozen service providers and the initial one selected after one or two years try to doubled the fees and even threatened with legal actions to collect. This is common practice in Malta therefor having a good honest service provider accountant is an asset.

Incorporating can be cheap in Malta but be aware of all the hidden costs and the evert increasing fees afterwards.

We still need to move out the trademarks, just checking if there is any interest or if we will just liquidate them.

Transfer costs of shareholder and director shall be paid for.

 

[CyprusLawyer101]

For the purposes of selling, keeping the VAT number makes it more attractive. Good luck!

 

[Spinat]

What's the price you ask for the company?

 

[bandanna]

They have been incorporated in person in Malta and currently have a good accountant using his services and registered address with correct fees. We have visited on site a dozen service providers and the initial one selected after one or two years try to doubled the fees and even threatened with legal actions to collect. This is common practice in Malta therefor having a good honest service provider accountant is an asset.

Apologies for the off-topic question, I struggled a lot with a good accountant in Malta. In fact, it's one of the main reasons I'm looking to move the business completely off Malta.

Could you please recommend me the accountant you use? If not publicly, possible via DM.

Thank you so much!

 

[JimBeam]

What's the price you ask for the company?

Please answer the question above and also how much are annual costs of having the company?
What tax rate do you pay for these companies and how does that work?

 

[Mike Forman]

The cost would be 500 usd per company and the costs to transfer the shares and director.

The annual costs are around 1000 - 1500 usd, which includes company address registration, secretary fee, annual filing, etc.. and upon till now also vat filings (which were nil filings). The annual maintenance cost is one of the lowest you can find, without being cheated as be careful with the low rate promises of the first year doubling then the second year.

We didn't pay any tax as there was no income, only some IP related expenses. It depends on the business and the holding. If you have a foreign holding corporation (shareholder) the final taxation rate would be 5pct. Again this depends on the type of business.

We want to end the companies as they were set up to make use of 5pct (which would have been challenging since income on royalties if declared as so would have higher tax) tax on royalities and have a European trademark holding company. Since things didn't work out this way and there was no income the maintenance cost is unnecessary for it's purpose.

Apologies for the off-topic question, I struggled a lot with a good accountant in Malta. In fact, it's one of the main reasons I'm looking to move the business completely off Malta.

Could you please recommend me the accountant you use? If not publicly, possible via DM.

Thank you so much!

Sorry but we prefer not to disclose this information. They are a small firm and as you mentioned, finding a trustworthy and reliable accounting is very challenging in Malta.

We had inquired and visited around 10, then decided to use FBS Malta to incorporate as they made a good impression and had low rates (which are bait rates), but then quickly started quadrupling rates and sending legal letters we would be sued if we didn't pay. So I strongly recommence never work with them. There are more reliable bigger forms but those will cost easily a few thousand usd annual fees.

 

[bandanna]

Sorry but we prefer not to disclose this information. They are a small firm and as you mentioned, finding a trustworthy and reliable accounting is very challenging in Malta.

We had inquired and visited around 10, then decided to use FBS Malta to incorporate as they made a good impression and had low rates (which are bait rates), but then quickly started quadrupling rates and sending legal letters we would be sued if we didn't pay. So I strongly recommence never work with them. There are more reliable bigger forms but those will cost easily a few thousand usd annual fees.

Thanks Mike, I spoke to multiple agencies and can ask you in dm if you heard or any. The one I’m dealing with now is not cheap, and had to bounce LoE multiple times for lack of clarity on, say, certain amount of transactions per year but explanation how much any extra would cost or actually how do they define a transaction?

We really considered going off Malta just because of this pain.

If you reconsider and can dm me with the recommended agency, this would be absolutely helpful … you can’t imagine.

Thanks!!

 

[bandanna]

The cost would be 500 usd per company and the costs to transfer the shares and director.

The annual costs are around 1000 - 1500 usd, which includes company address registration, secretary fee, annual filing, etc.. and upon till now also vat filings (which were nil filings). The annual maintenance cost is one of the lowest you can find, without being cheated as be careful with the low rate promises of the first year doubling then the second year.

That’s very cheap. I pay almost 10k yearly for maintenance and I have always to be careful clearly asking about costs everytime I ask them any questions whatsoever.

Are the companies operating and holding so I can just consolidate on 5% without refund of 6/7?

I’m interested how to proceed from here

 

[cryptomma2]

Hi Mike,

that's a great offer, I'm interested. In fact I was about to start the process to form two Maltese companies .

 

[loccu]

Hi, interested. Left my contact on ur profile wall. Thanks!

 

[landogarner]

The cost would be 500 usd per company and the costs to transfer the shares and director.

The annual costs are around 1000 - 1500 usd, which includes company address registration, secretary fee, annual filing, etc.. and upon till now also vat filings (which were nil filings). The annual maintenance cost is one of the lowest you can find, without being cheated as be careful with the low rate promises of the first year doubling then the second year.

We didn't pay any tax as there was no income, only some IP related expenses. It depends on the business and the holding. If you have a foreign holding corporation (shareholder) the final taxation rate would be 5pct. Again this depends on the type of business.

We want to end the companies as they were set up to make use of 5pct (which would have been challenging since income on royalties if declared as so would have higher tax) tax on royalities and have a European trademark holding company. Since things didn't work out this way and there was no income the maintenance cost is unnecessary for it's purpose.


Sorry but we prefer not to disclose this information. They are a small firm and as you mentioned, finding a trustworthy and reliable accounting is very challenging in Malta.

We had inquired and visited around 10, then decided to use FBS Malta to incorporate as they made a good impression and had low rates (which are bait rates), but then quickly started quadrupling rates and sending legal letters we would be sued if we didn't pay. So I strongly recommence never work with them. There are more reliable bigger forms but those will cost easily a few thousand usd annual fees.

This a really excellent price for annual services, congratulations !

 

[churumbelo]

We own two Malta companies which we consider to liquidate. Both have been registered for over 5 years and only held some trademarks with only 3 - 4 transactions several years ago.

Annual reports were filed and books audited. Also had a vat number but we will deactivate it. Both don't come with a bank account.

They have been incorporated in person in Malta and currently have a good accountant using his services and registered address with correct fees. We have visited on site a dozen service providers and the initial one selected after one or two years try to doubled the fees and even threatened with legal actions to collect. This is common practice in Malta therefor having a good honest service provider accountant is an asset.

Incorporating can be cheap in Malta but be aware of all the hidden costs and the evert increasing fees afterwards.

We still need to move out the trademarks, just checking if there is any interest or if we will just liquidate them.

Transfer costs of shareholder and director shall be paid for.

Hi Mike, I am interested. Could you please PM me? Thanks!

 

[myhand]

What's the costs for this Malta company ?

 

[JohnLocke]

Thread closed!

The user has no MARKETPLACE SELLER ACCOUNT which is required to sell your private company or other similar services.