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We help clients set up simple or complex partnership structures in Malta. The partners to be must first establish the partnership’s name, its objectives, the initial contributions, if applicable, its period, and whether they shall use their own address or our registered address service. They must further establish its type which may either be a general partnership (GP), also known as a partnership en nom collectif, or a limited partnership (LP), also known as a partnership en commandite. The obligations of both types of partnerships must be guaranteed by the unlimited, joint and several liability of its general partners, however a limited partnership further allows the inclusion of limited partners whose liability is limited to the amount unpaid on their contribution. Upon reaching an agreement, the structure and the by-laws of a partnership are formalised by drafting its deed of partnership and is then registered with the public partnership registrar. For these requirements, we offer our clients the following services:
We further handle other types of registrations, such as a multi-fund limited partnership (MF LP), a multi-class limited partnership (MC LP) or a variable share capital limited partnership (VC LP).
Following the entire registration process, the general partners of a partnership must register the partnership for tax. If the partnership shall trade, it must be further registered for VAT. They must also open the partnership’s bank account. We handle such requirements on our client’s behalf:
We further help partners by handling other matters related to insurance, financial support, licensing, protection of intellectual property and subsidy benefits:
The general partners of a partnership must on its behalf keep records, file annual accounts, file the partnership’s tax return and have the partnership’s tax statement settled. If the partnership 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 general partners of a partnership are further responsible for notifying the public partnership registrar with any changes to it, such as alterations to its contribution, transfer of contributions, name changes and the cessation or appointment of a partner. For such requirements, we provide comprehensive Secretarial services to our clients.
For partnerships that intend to employ personnel and pay them salaries we further handle their FSS (final settlement system) requirements and offer a payroll service:
All partners 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 partners:
We also provide Advisory services to help partners make well-informed decisions when faced with nontrivial matters.
A partnership can be struck-off from the public partnership registrar in many ways. For instance, the procedure to be dissolved may be triggered by the expiration of the partnership period. If the circumstances so require, we offer the Liquidation of Partnership service such that we may be appointed to act as the liquidator to wind-up the partnership’s affairs, liquidate any outstanding debts and have any surplus distributed according to the deed of partnership.
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 partnership’s bank account must be closed. In addition to the above-mentioned compliance services, we further handle such deactivations on our client’s behalf:
We assist clients with property and interest 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 or interest transfer. In addition to the above, we offer these services:
If added protection is required for the property or interest transfer we also offer the following escrow services:
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 firstname.lastname@example.org.