Sole Traders.
We help sole traders set up shop, apply for the necessary registrations, handle their ongoing compliance matters and provide the necessary advice they require to remain competitive.

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Set Up

We help sole traders set up shop in Malta by handling the obligatory registrations and submissions they are bound to make as soon as they start trading:

For foreigners taking up residence in Malta we further handle their requirement to obtain a tax and social security number as well as an employment license:

We additionally offer the Application for Bank Account service if required.

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

Ongoing Compliance

Sole traders must keep records and file periodic forms and returns. We provide a comprehensive list of services that address such requirements:

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

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

Closure

Sole traders can opt to close their business by submitting a final VAT return and settling their final VAT statement. They must also update their accounts and submit a final tax return up to the last day of trading. Sole traders that are also employers must further declare and pay all outstanding contributions. After these obligations are fulfilled, the VAT registration and, if applicable, the FSS registration can be deactivated. In addition to the above-mentioned compliance services, we further handle such deactivations on our client’s behalf:

Transfer

We assist clients with property and business 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 business transfer. In addition to the above, we offer these services:

If added protection is required for the property or business 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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