Shareholders in Maltese companies must provide the following personal details:
- Full Name;
- Marital Status (if married, the full name of the spouse and the rules regarding assets);
- Place of Birth;
- Permanent Address;
- ID number.
If the shareholder is a company, then the company must also give its details (company name, registered office, share capital, company register number). There must be documented proof that the representative is acting on behalf of the company and has legal authority to do so.
Rights of the shareholders
Shareholders of limited liability companies have the following rights:
- Right to part of the profits;
- Right to participate in shareholder decisions;
- Right to information about the company;
- Right to be appointed to the board or governing bodies;
- Special rights defined in the company articles of association, granting one or more shareholders special benefits which are not granted to other shareholders.
Obligations of the shareholders
Shareholders of limited liability companies have the following obligations:
- Obligation to pay in capital contributions, generally by paying a specific amount when the company is formed;
- Obligation to cover company losses to an amount that is proportional to their shareholding;
- Obligation to make ancillary or supplementary capital contributions or to lend money to the company according to the provisions set out in the articles of association.
Distribution of dividends to shareholders of Maltese companies
Directors can distribute interim dividends based on management accounts drawn up internally by company accountants.
Final dividends will be distributed after the company's financial statements have been completed and approved by shareholders.