Associations.
We set up associations, open their bank accounts, apply for the necessary registrations and handle both the association’s and administrators’ ongoing compliance matters.

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Set Up

We help prospective founders set up associations in Malta according to their wishes and objectives. The founders to be must first establish the association’s name, its purpose or objectives, the property and funds being endowed, and whether they shall use their own address or our registered address service. They must further establish its type which may be a private interest association, a social purpose association, or a non-profit association and they may also determine its period. The founders must also specify who shall be the first administrators and legal representatives of the association. In the case where all of the administrators are non-residents, then the founders must further specify who shall be the local judicial representative of the association. These key details are formalised by drafting a deed of association and is then registered with the public association registrar. We further coordinate with a public notary the publication of the deed of association. For these requirements, we offer our clients the following services:

Following the entire registration process, the administrators must register the association for tax. If the association shall trade, it must be further registered for VAT. They must also open the association’s bank account. We handle such requirements on our client’s behalf:

We further help administrators by handling other matters related to insurance, financial support, licensing, protection of intellectual property and subsidy benefits:

Ongoing Compliance

The administrators of an association must on its behalf keep records, prepare annual accounts, file the association’s tax return and have the association’s tax statement settled. If the association is registered for VAT, they are further bound to submit periodically VAT returns and have the VAT statements settled. We provide a comprehensive list of services that address such requirements:

The administrators of an association are further responsible for notifying the public association registrar with any changes to it, such as receipt of additional endowments, name changes and the replacement of an administrator. For such requirements, we provide comprehensive Secretarial services to our clients.

For associations that intend to employ personnel and pay them salaries we further handle their FSS (final settlement system) requirements and offer a payroll service:

All administrators that are natural persons are further responsible for their personal tax affairs. If they are resident, they must pay their annual tax and SSC (social security contribution) through the self-assessment system. Foreigners taking up residence in Malta are further bound to obtain a tax and social security number as well as an employment license. In addition to the above, we provide these services to such administrators:

We also provide Advisory services to help administrators make well-informed decisions when faced with nontrivial matters.

Dissolution

An association can be struck-off from the public association registrar in many ways. For instance, the procedure to be dissolved may be triggered by the expiration of the association period. If the circumstances so require, we offer the Liquidation of Association service such that we may be appointed to act as the liquidator to wind-up the association’s affairs, liquidate any outstanding debts and have any surplus distributed according to the deed of association.

Prior to being struck-off, the above-mentioned compliance obligations must be fulfilled. Following the settlement of all outstanding FSS, tax and VAT statements, the registrations can be deactivated. Moreover, the association’s bank account must be closed. In addition to the above-mentioned compliance services, we further handle such deactivations on our client’s behalf:

Transfer

We assist clients with property transfers. Depending on the nature of the transaction, the seller might be liable to pay capital gains tax (CGT) and the buyer might be liable to pay stamp duty (SD). In any case, an agreement must be drafted between the seller and the buyer detailing such property transfer. In addition to the above, we offer these services:

If added protection is required for the property transfer we also offer the following escrow services:

Further Information

If you would like to receive more information and detail about our services, fees and applicable reimbursements, kindly get in touch with us through our Contact page or send us an email to ps.enquiries@busuttil.mt.

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