Griffiths + Associates

Griffiths + Associates is an independent advisory, audit and accounting practice in Naxxar, in the middle of Malta between Valletta and Mdina. It suits UK individuals and businesses that want one Maltese firm to handle a company set-up, the tax questions that come with it and the ongoing accounts and audit, rather than coordinating several providers.

The firm has more than two decades of experience in corporate and tax work, and its roots go back further: James Griffiths set up a sole practice in 1982. Today it is the only Maltese representative of PrimeGlobal, an association of independent accounting firms working across more than 130 countries. VisitMalta.co.uk lists it among the accountants in Malta.

Who the firm works with

The client list is varied: holding companies, wealthy private individuals, freelancers, start-ups, permanent establishments of foreign companies and non-profit organisations. Work is offered to local and international clients alike, and the team speaks English, Maltese, Italian, French, Spanish and Russian between them.

The firm puts weight on personal attention, confidentiality and plain explanations, and billing is kept transparent so that no bill comes as a surprise. If you are weighing up a move or an investment, our guide to Malta tax for UK nationals and our overview of Malta's corporate tax structure give useful background before you speak to any adviser.

Peter Griffiths speaks English, Maltese, Italian and French, and colleagues add Spanish and Russian. For overseas clients that spread of languages is a practical advantage, because documents and explanations can often be handled in the client's own language. Clients are encouraged to treat the firm as a trusted adviser, not merely a filing service, with open communication and independent counsel as the working style.

Tax advisory

Tax is the firm's anchor service and is led by Peter J. Griffiths, the Managing and Tax Director, who is a Certified Public Accountant and Registered Auditor and is licensed by the MFSA to act as an administrator of private foundations. He sits on the PrimeGlobal council for the Southern European region and chairs its EMEA council.

Advice comes in two forms. An oral session, in person or by video call, suits clients who have done their own research and want to confirm their reading of the rules. A written opinion, known as a memorandum, gives a full analysis of your questions with references to the legislation. Topics include Maltese tax for individuals and companies, tax residence for expatriates moving to or from Malta, estate planning for high net worth clients, and structures for superyachts and other private vessels.

The tax team also prepares returns, handles VAT registration and refunds, and acts as liaison with the authorities. Licensed online gaming operators can have their gaming tax submissions to the Malta Gaming Authority prepared, and the firm advises professional poker and casino players on whether winnings are taxable. Our guide to iGaming in Malta covers the sector more widely.

Company formation and corporate services

As a licensed company service provider, the firm registers private limited companies, public companies, branches of foreign companies, partnerships and foundations. Malta's Companies Act is modelled on its UK counterpart, so the structure will feel familiar to British founders. Formation typically takes five to seven working days from receipt of full payment and all documents, and every client goes through anti-money laundering due diligence first, which the firm treats as a real check, not a formality.

The firm is frank about economics. In its experience, forming and structuring a Maltese company is generally worthwhile when expected annual profit reaches about €200,000, and winding up even a dormant company can cost around €5,000. Double entry bookkeeping is mandatory for limited companies, and statutory audits are generally required, with some exemptions.

Optional services include a registered office at the firm's own premises, nominee or corporate director services, company secretarial work, help opening a Maltese bank account, and redomiciliation, which moves an existing foreign company to Malta while keeping its legal identity. Merger, acquisition and division work is built around tax structuring. For the wider picture, see our overview of financial services in Malta.

Banks in Malta generally work with authorised company service providers when they take on new business customers. The team walks you through what each bank expects, arranges and coordinates the meeting with bank representatives and handles the paperwork for the due diligence stage. Although the Companies Act does not require a local account, regulators and tax authorities usually expect one, because it helps show that the company is genuinely set up to operate in Malta.

Directors and shareholders need not live in Malta, and non-EU nationals may hold either role. Owning a Maltese company does not by itself give anyone the right to reside in Malta, which is worth knowing before you plan a move around a new business.

Accounting, audit and compliance

Accounting and audit are carried out in house rather than through subcontractors. The accounting department, led by Anton Magro, covers bookkeeping, VAT compliance, payroll and personal tax returns, and in 2022 the firm acted as reporting accountants on a public bond issue in Malta. Audit is led by Alexander Micallef, who joined in 2006 and has audited businesses in construction, manufacturing, shipping, investment funds and gaming.

Audit services include internal and statutory audit, financial audit for government bodies and agencies, gaming audit and pension scheme audit. The firm is an MFSA approved auditor for retirement schemes and holds recognition as an approved statutory auditor from the Malta Gaming Authority. A legal and compliance department led by Advocate David Lorenzo A. acts as money laundering reporting officer and also offers AML consulting and secondment of compliance officers to financial institutions. The advisory department, led by Riccardo Baldoni, brings experience in mergers and acquisitions, management control systems and accounting systems, and also supports clients seeking EU funding, grants and other incentives for start-ups.

Wealth, maritime and residence services

Wealth structuring covers foundations, family offices, professional investor funds and alternative investment funds, plus charities, associations and voluntary organisations. Maltese yacht and ship registration is a further specialism, including the Malta flag, tonnage tax, temporary importation and the VAT treatment of yacht leasing.

For people relocating, the firm assists with residence permits, special tax status schemes and work permits, including the single permit, the KEI and SEI routes and the blue card. UK readers planning a move can start with our guide to relocating to Malta from the UK, and remote workers with our digital nomad guide. The firm also helps with trademark registration, covering EU trade marks through EUIPO and Maltese national marks.

Wealth work is also tied to the firm's regulated status. Mr Griffiths is licensed to act as administrator of private foundations, and the team can set up foundations and family offices and structure funds for professional or alternative investors. Maltese companies can also be placed in double or triple tier structures, where an operating company sits beneath one or more holding entities, and the firm advises on when that is worth the added cost.

The office and how to get started

The office is on the first floor of Casal Naxaro on Labour Avenue in Naxxar, a short drive from Mosta and the walled city described in our Mdina guide. The website gives office hours of Monday to Friday from 8.30 to 17.30.

A sensible first step is to say what you want to achieve and roughly when, so the right specialist can pick up your message: a company, a tax opinion, an audit, a residence application or a yacht registration. Use the VisitMalta.co.uk enquiry form on this page and we will pass your message to Griffiths + Associates, who will reply to you directly. Professionals and introducers who refer clients to the firm may also agree partnership terms, though this page is aimed at direct enquiries from readers. Visitors combining a meeting with sightseeing can read our Valletta guide for the capital, a short drive away.