starting a business in Malta - social security costs

Last activity 02 November 2013 by Rico29

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usefulinfoMember28 September 2013 22:11:18

I want to start a new business in Malta: an Ltd or self-employment business abou Web publishing and designer.

Which are the Social Security costs in both cases?

Many thanks for your help!

tearnetViP29 September 2013 05:26:38

2179

This company has info on its website regarding setting up a LTD company in Malta.
http://www.eurocompanyformations.com/ma … 3godqD4AHQ
or this company
http://fortytwocs.com/why-malta/key-com … /?ad=malta

and this for self employed...
https://www.expat.com/forum/viewtopic.php?id=222367

Terry

LuscoSerial expat29 September 2013 07:38:31

252

"Social security contributions are paid 10% each by the employer and the employee respectively. Social Security contributions however, are capped at 1,717.56 annually for persons who were born before 1962. For people born after 1962, the capping stands at 1,840.28."

This website should be helpful for you:
http://www.businessfirst.com.mt/

usefulinfoMember29 September 2013 20:00:22

Thanks both for your help but at least at the beginning I'm not going to hire any emplyee.
So, in this case, how much are the Social Secutiry costs?

Thanks!

LuscoSerial expat29 September 2013 20:34:20

252

If you born from 1962 onwards:

From 910 to 9,656 annual income; 27,86 per week
From 9,657 to 17,629 annual income; 15% weekly rate
From 17,630 onwards; 56,78 per week

If you born before 1962:
From 910 to 9,656 annual income; 27,86 per week
From 9,657 to 20,964 annual income; 15% weekly rate
From 20,965 onwards; 60,47 per week

http://www.ird.gov.mt/services/ssc/class2rates2013.aspx

Rico29Member02 November 2013 08:47:28

Hi there, your posts are very interesting & I am almost in the same scenario. Do you have to pay the social security also if your company is registered abroad?

Thanks a million
Riccardo

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