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Falkland Islands (Malvinas)

Legal form:

FK, MAL

Delivery:

6 weeks

Price: $

$250

Payment methods:

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Requirements:

Document checklist:

Local legal address (Handled by B2B Hub) 

1.Passport
2.Proof of Residence 

Registrar

Organization name

Abbreviation

Country

Falkland Islands (Malvinas)

Email

Phone

Listing
Open website
UK comapny formation (1).webp

About

Falkland Islands (Malvinas)

Capital
Official languages
Population 
Currency

ISO 4217

Stanley

English

3,140 (as of July 2020)

Falkland Islands Pound

FKP

FAQ

Q: What is the process for forming a company in the Falkland Islands (Malvinas)?

A: The process for forming a company in the Falkland Islands (Malvinas) involves submitting an application to the Companies Registrar, obtaining a business license, and registering for taxes and social security.


Q: What are the different types of companies I can form in the Falkland Islands (Malvinas)?

A: The most common type of company in the Falkland Islands (Malvinas) is the Private Limited Company.


Q: What is a Private Limited Company?

A: A Private Limited Company is a type of company where the liability of the shareholders is limited to their share capital contribution. This means that the personal assets of shareholders are protected in case of the company's debts or bankruptcy.


Q: What are the minimum requirements for company formation in the Falkland Islands (Malvinas)?

A: The minimum requirements for company formation in the Falkland Islands (Malvinas) include having at least one shareholder, a registered office address, a share capital of at least GBP 1, and at least one director.


Q: How long does it take to form a company in the Falkland Islands (Malvinas)?

A: The time it takes to form a company in the Falkland Islands (Malvinas) can take up to two weeks, depending on the completeness of the application and the workload of the Companies Registrar.


Q: What are the tax implications of forming a company in the Falkland Islands (Malvinas)?

A: Companies in the Falkland Islands (Malvinas) are subject to a corporate tax rate of 26% on their taxable profits. There is no value-added tax or sales tax in the Falkland Islands (Malvinas), but businesses may be subject to other taxes, such as import duties or payroll taxes.


Q: What are the ongoing compliance requirements for companies in the Falkland Islands (Malvinas)?

A: Companies in the Falkland Islands (Malvinas) are subject to ongoing compliance requirements, including filing annual financial statements, maintaining proper accounting records, and renewing their business license and other permits as required. It is important to work with a qualified professional to ensure that you remain compliant with all applicable laws and regulations.

Economy

"The Falkland Islands (Malvinas) have a strong and growing economy. According to the Falkland Islands Government, the Gross Domestic Product (GDP) of the Falkland Islands was estimated to be £521 million in 2018, a 4.2% increase from 2017. The main industries driving the economy are fishing, tourism, and oil and gas exploration. Fishing is the largest contributor to the economy, accounting for around 40% of GDP. Tourism is the second largest contributor, accounting for around 25% of GDP. Oil and gas exploration is the third largest contributor, accounting for around 15% of GDP.

The Falkland Islands have a strong and diversified economy, with a low unemployment rate of 2.2%. The average income per capita is estimated to be £30,000, which is higher than the UK average of £27,600. The Falkland Islands also have a strong banking sector, with two major banks operating in the islands.

Overall, the Falkland Islands have a strong and growing economy, with a diversified and robust banking sector. The main industries driving the economy are fishing, tourism, and oil and gas exploration, and the average income per capita is higher than the UK average."

Taxation



The Falkland Islands have their own tax system, separate from the tax systems of the United Kingdom or any other country. The Falkland Islands Government (FIG) is responsible for collecting and administering taxes in the territory.


In terms of corporate taxation, companies operating in the Falkland Islands are subject to a standard rate of 26% on their profits. There are some tax exemptions and deductions available, such as those for research and development, capital allowances, and losses brought forward from previous years.


Individuals who are resident in the Falkland Islands are subject to income tax on their worldwide income. Non-residents are only taxed on income that is sourced in the Falkland Islands. The personal income tax rates in the Falkland Islands vary depending on income level, with the top rate currently set at 26%.


The tax year in the Falkland Islands runs from 1 April to 31 March. Taxpayers are required to file their tax returns by 30 June following the end of the tax year. Tax payments are due in two instalments, with the first instalment due on 1 October and the second instalment due on 31 March of the following year.


Taxpayers in the Falkland Islands can make payments online, by bank transfer, or in person at the FIG Treasury. Late payment of taxes can result in penalties and interest charges, so it is important for taxpayers to ensure that they meet all tax obligations in a timely manner.

Company incorporation application form

Representative

Chosen company name

Main business activity

Legal address of director

Extra services

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