Geraldine Spiteri Lucas is the CEO and Registrar of the Malta Business Registry. She started her career with a leading Maltese law firm, moving to the Registry of Companies as a legal officer before being promoted to Head of Legal of the Malta Business Registry.

When considering an investment destination, one of the first questions asked is how easy or complex the process to open a company within that jurisdiction is. What’s your personal verdict on this subject?

To register a new company is quite a straightforward procedure, and if all documents are submitted, the company will be uploaded on our portal on the same day. Having said this, since there are a number of documents that need to be submitted, more often than not, a proposed company will require correction.

How important is it for incoming investors to appoint the right corporate services provider to set up the business and handle all the necessary registrations?

One needs to point out that in Malta there is no legal obligation to have a corporate services provider (CSP) engaged at pre-inception stage of a company or during the existence of a company, although a majority of companies are incorporated and serviced by a CSP. From our experience, companies that are delivered or serviced by a CSP are dealt with more efficiently, as experienced CSPs are well aware of the company’s obligations at law as well as MBR’s expectations.

How can the Malta Business Registry assist and support prospective investors?

I am a firm believer that education is the key for success. The MBR should not appear to be an entity where the main element is the issuing and collection of penalties. On the contrary, our goal is for everyone in this sector to be fully aware of their obligations and ensure that their filings are up-to-date and correct. This is beneficial to both the entity itself and also to other entities and individuals transacting with that entity.

The MBR recently took on more of a supervisory role. Can you tell us more about this?

We ensure that the vetting and verifications carried out from our side are in the best interest of the business community as well as the Maltese jurisdiction. MBR’s supervisory role ensures that it acts as a gatekeeper of what comes in and out of the Maltese jurisdiction. Our intention is not that of a police state, but rather to offer peace of mind to businesses with an up-to-date and accurate register that they can use when doing business.

What does Malta offer to prospective investors?

Malta is small but has a lot of potential, and it consistently provides clear guidance and support to the business community in order for it to flourish in a regulated environment. Time and time again, this tiny island nation has showcased its agility and flexibility to adapt promptly to different circumstances. As history shows, it managed to rebrand itself from a fortress-based economy to one based on services that seek to convert human resources into highly skilled human capital that plays an essential role in economic growth.

Since the country has no natural resources, Malta has always sought to invest in its people. Regulators as well as the private sector are staffed with professionals who know their job well and can assist investors with the opening of a company and its upkeep, and also help them to explore new niches.

The authorities also have a track record of standing shoulder to shoulder with businesses and employees in times of adversity, most recently through the issuance of direct wage support at the heights of the pandemic, crucial in saving over 100,000 jobs. Bold decisions resulted in Malta now experiencing the lowest inflation rate when compared with the rest of the EU, as well as having the lowest unemployment rate.

Moreover, a company can easily seek the guidance of entities and authorities in their endeavours. Given our geographical position and the certificate of trust issued by the FATF that Malta is fully compliant with international standards, this certainly makes for an attractive jurisdiction where investors can conduct business with peace of mind.

This feature was first carried in the Malta Invest 2023 edition. Malta Invest is the first-ever comprehensive international investment guide focusing on Malta as a destination. It is produced by Content House Group.