Malta Company + EMI (MyPOS) 6/7 full imputation tax rate?

[Larry]

Good Day everyone,

in 10/2017 I incorporated a Malta Ltd. + Holding. Shareholder of Ltd. is Holding and Shareholder of Holding is my FZE in UAE. I'am resident of UAE.

I incorporated with the help of regional agent. First of all we tried to open Satabank account in 12/2017 but they left us in never ending support and ticket loop until we got the official news that they had problems with MFSA.

Meanwhile tried to open LeuPay but still the same. Only MyPOS accepted Ltd. + Holding. We don't know why because LeuPay and MyPOS are subsidiary companies of Satabank.

So now my big question. Is the 6/7 full imputation tax rate possible with EMI like MyPOS? I read many times that the local tax department is more like a Turkish bazar and they try to scam you with things like you don't have local IBAN so you don't get 6/7 full imputation tax rate and things like this.

My regional agent say it's possible but I'am not sure if he want to scam me.

Please be informed that I meanwhile know that Malta is heavy to get bank account and expensive too. But 1 Year ago I didn't know this and now before I use the companies and pay 35% Tax first I want to know if there is chance to get 6/7 tax refund.

Anybody have experience with this case?

If nothing help I will cancel/sell Malta companies and incorporate in Cyprus.

Before some people ask we need EU company for payment gateways and daily business with SEPA payments.

Thank's for help!

 

[jackfrost]

1) Do not use Sata/Leu/etc!!!!
2) Absolutely no need to use a Maltese bank and rather you should not
3) 6/7 unless 5/7 etc applies to your activities is not a "possible" and will be honored
4) Tax refund can be paid to any bank account
5) use Transferwise Borderless Business / Revolut Business / MisterTango
6) your agent is crap - get a decent one

https://www.whitmill.com/media/1182/whitmill_maltese_company_factsheet_may_2016.pdf
https://www.ccmalta.com/publications/malta_tax_dividend_incom

 

[Larry]

Sounds good, thank's for your help.

Trying MisterTango now because with 10 EUR/month for legit business it's the cheapest way.

Already checked your other postings. Did you figured out a EU real bank for your LTD?

Because don't want to keep to much money with EMI's.

 

[nitehawk]

Do not use Sata/Leu/etc!!!!

What is wrong with Sata?

 

[Larry]

Actually they don't open any corporate accounts. Talked to them this week.

Anyone know good real bank in EU for Malta Ltd. + UAE residence?
Because we need higher limits then EMI's can provide.

 

[hiju]

What business are you into? Are you able to travel to the bank?

 

[Larry]

Yes I'am able to travel. Affiliate Marketing, E.Commerce.

 

[hiju]

Mister Tango and Revolut may work well for you. I don't believe you will be able to obtain a real bank account for your setup.