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TRUST, FIDUCIARY & CORPORATE

Company Formation and Administration Services

At Busuttil & Micallef, we provide Company Formation and ancillary services including registered office, director and company secretary and registered office services, through our collaboration with Areti Partners Limited.

We offer a full range of bespoke services including corporatetax advisory, compliance and back office services  that results in a one-stop shop experience for our clients.  

We are able to rely on our network of contacts around the world to provide an international dimension to a client-owned structure whether this requires multi-jurisdictional advice or an international cross-border set-up to meet customer requirements. 

We can also assist clients with the process to continue (re-domicile) an overseas entity in Malta and/or to assist clients in registering the tax resident status of an overseas company that is effectively managed and controlled in Malta, taking advantage of the benefits that may accrue in such situations.

We are regularly involved with transactions such as cross-border mergers in an EU context as well as domestic mergers and other transactions as required by an international client base.

Our practical approach to things allows us to be innovative in the search for solutions to meet diverse client requirements. 

Contact us for further information: [email protected]

 

Yacht Registration and Yacht-Owning Structures

The Malta Ship and Yacht Registry is the largest in the European Union and seventh largest in the world.

There are a number of factors including the strong status of the Malta Flag, Malta’s geographical location and maritime tradition, a very competitive cost structure, flexible regulations on crew and others that can be attributed to this success.

 

Our services include:

• Tax and VAT efficient structuring (for both commercial and private operations)

• Registration services

• Comprehensive administration services

• Accounting services

Contact us for further information: [email protected]

 

Trusts and Foundations

Trusts and Private Foundations provide a highly flexible option for meeting the varying needs of clients including but not limited to the maintenance, administration and protection of assets. Trusts and Private Foundations can also be used for succession planning, tax efficiency and avoiding forced heirship issues and the complexities of probate.

Malta’s legislation recognises all types of trusts found in other jurisdictions including discretionary trusts, interest in possession trusts, accumulation and maintenance trusts, fixed interest trusts and charitable trusts. Maltese legislation also allows more commercial types of trust such as unit trusts or collective investment schemes to be established. 

Furthermore, Malta trusts can be converted into Malta Foundations and vice-versa giving added flexibility to the client.

At Busuttil & Micallef, we are authorised to act as trustee and to provide fiduciary services and to act as administrators for foundations set up for the benefit of private persons, through our collaboration with entity Areti Partners Limited.

Contact us for further information: [email protected]

 

Residence Programs

Malta offers a variety of residence options which include The Residence Program (TRP) Rules for EU/EAA citizens and the Global Residence Program (GRP) Rules for non-EU citizens which require applicants to own or rent a qualifying property in Malta and Gozo, amongst other conditions. 

Residence Permit holders are thus able to reside in Malta and would be subject to tax in Malta, on a remittance basis, at a flat rate of 15% on qualifying income, subject to a minimum annual tax payment.   

Other options would include the possibility that is available to all EU/EEA/Swiss citizens to take up residence in Malta as self-employed persons or as economically self-sufficient persons, amongst others. Resident individual is subject to tax in Malta on the progressive tax rates applicable to residents, depending on the status of the individual concerned without any minimum annual tax payment being so imposed. 

The Malta Retirement Programme (MRP) is also available for those EU citizens that may be interested in retiring to a warmer climate where the pace of life is less demanding than in other parts of the continent and the scheme also brings with it other benefits including a flat rate of tax of 15% and others.

At Areti Partners, we can also assist clients seeking to acquire Maltese citizenship through the Malta Individual Investor Programme (MIIP) whereby Malta citizenship is acquired through an Investment Programme. The process requires an application and a due diligence procedure whereby a certificate of naturalisation is issued after a twelve month period. 

Our experience in this area allows us to offer a comprehensive and total service to clients seeking assistance with applications and related matters. We are registered as authorised mandatories for the purposes of the TRP, GRP and MRP purposes.

Contact us for further information: [email protected]

 

Intellectual Property structures in Malta

The lack of withholding taxes and the strong double taxation treaty network in Malta makes Malta an ideal jurisdiction for the exploitation of Intellectual Property rights in a tax-efficient manner. In addition, Maltese companies may benefit from protection against non-Maltese withholding tax payable on royalties qualifying under EU Interest and Royalties Directive

The attractive rules applicable to income in the form of royalties derived from Qualifying Patents (‘Patent Box Deduction) in terms of the rules published in 2019 results in a favourable taxl situation in Malta, subject to certain terms and conditions being in place.  

A “qualifying patent” means a patent registered in Malta or elsewhere, and includes patents where the research, planning, processing, experimenting, testing, devising, designing, developing and similar activity was carried out outside Malta.

Otherwise, other forms of royalty income that do not qualify for the favourable tax treatment described above is taxed in an efficient manner in Malta and the actual effective tax rate depends on whether the income in question is deemed to be passive income by virtue of having suffered at least 5% in overseas tax, irrespective of whether the tax was levied directly or indirectly, or through withholding or otherwise. 

At Areti Partners, we can be relied up on to provide clients with sound advice on the interesting possibilities for intellectual property-owning structures including the application of asset value step-up rules when an overseas entity is continued (re-domiciled) to Malta as part of a restructuring process.

Contact us for further information: [email protected]

Our Professionals
Michael Ellul

Director

Chantal Ganado

Director

Renald Micallef

Partner & Director

Liliana Briffa D’Agostino

Clare Borg