During the last several years, Malta has emerged as a destination for large foreign investors seeking to operate in the energy industry. The main reason behind their decisions were the various investment schemes enabled by the Maltese government in order to support the energy sector. These schemes consisted in various tax incentives and grants for investors opening companies in the energy sector with a focus on renewable energy.
A few years ago, Malta through the Malta Resources Authority renewed the Energy Law in order to allow the liberalization of the market and to welcome foreign players seeking to supply energy services to the population. You can obtain more information on the new legislation on the supply of energy from our law firm in Malta.
Registering an energy company in Malta
Foreign investors seeking to open a company in the energy industry in Malta must comply with the Company Law’s registration requirements and prepare the memorandum and articles of association of the company prior to registering it with the Trade Registry. The company’s statutory documents must state in the objects of activity section the supply of energy services. These services can consist in:
- – electric energy services;
- – water supply services;
- – heating and cooling services;
- – gas supply services;
- – renewable energy services.
Under the new legislation, all Maltese companies supplying these services must comply with certain efficiency requirements which will be measured by the Malta Resources Authority.
Special licenses for companies in the energy industry in Malta
Entrepreneurs opening companies in the energy sector in Malta must obtain various special licenses with the Malta Resources Authority before starting to operate. Also, these companies must also comply with the provisions of the Competition Law, as the Authority will also be in charge with supervising the prices imposed by these companies.
Under the 2014 Energy Law, all companies supplying energy services in Malta have the right to install equipment which enables them to provide their services. They are also allowed to conclude contracts with private and public consumers seeking to use their services.
For full information on the requirement to set up a company in the energy industry, please feel free to contact our lawyers in Malta. We can also assist with the company registration process.