Foreign investors coming to Malta have various industries to choose from when setting up a company. Trading is one of the most developed economic sectors in Malta because companies here are required to import most of the products they market. This is how the fast-moving consumer goods (FMCG) has become an industry itself in Malta. Opening a company in the FMCG industry is subject to various requirements and legislation.
Our lawyers in Malta can explain what the laws governing the FMCG sector are.
Registering a business in the FMCG industry in Malta
The main law providing for the opening of a company in Malta is the Commercial Law which established the requirements an entrepreneur must comply with in order to register a business in with the Trade Register. The same requirements apply to those starting a company in the FMCG sector in Malta. These requirements are:
- – preparing the incorporation documents;
- – reserving a trade name for the company;
- – setting up a bank account where the share capital will be deposited;
- – filing all the documents with the Trade Register;
- – registering for taxation purposes;
- – obtaining a VAT number;
- – applying for the necessary licenses.
Apart from these general requisites, a Maltese FMCG company must register with the customs authorities and apply for import/export licenses. Depending on the products imported, the company must apply for additional special permits.
Special licenses for FMCG companies in Malta
The FMCG industry is made up of numerous and various products which is why they are classified. Based on this classification, a company operating in the FMCG sector must apply for import permits for food or non-food products. A trading license which grants a company the right to sell its products is also required when operating in the FMCG sector. The trade license is issued by the Trade Licensing Unit within the Commercial Register in Malta. All licenses issued for companies operating in the Maltese FMCG industry are subject to various fees and can be renewed.
Foreign investors interested in establishing a business in the FMCG sector can rely on our law firm in Malta for assistance. You can also contact us for more information on the laws governing the FMCG industry.