Malta

Basic law for formation	International Business Company Act 1990, amended in 2000
Type of company available for offshore business	IBC
Out-of-territory income taxed	No
Minimum number of Directors	1
Minimum number of shareholders	1
Shares unregistered to a name	No
Standard share capital	50 000 USD
Registered agent / seat necessary	Yes / Yes
Local secretary necessary	No
Tax report obligatory	Yes
Audit obligatory	Yes
Local general meetings	No
Annual state tax	-
Companies registered in 2008	12 297

Maltese government hugely support income of all foreign capital into the country and so it introduced a favorable taxation system for foreigners. This allows for vital reductions of tax burden for foreign investors. For holdings that only gain money from dividends or capital gains tax may be reduced even down to 0%. For other classes of companies not doing any business within the territory of Malta the overall income tax may be reduced down to 5%.