Set Up a Jewelry Business in Malta
Set Up a Jewelry Business in MaltaUpdated on Friday 14th December 2018
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The Maltese jewelry industry dates back in the 1880’s when the Order of the Knights of St. John of Jerusalem came to this country. Ever since, small craft shops have appeared on the streets of Maltese cities and their work is carried out even now by those interested in preserving an ancient preoccupation.
With today’s evolution and with a booming tourism industry, setting up a jewelry business in Malta is quite a good opportunity for both young entrepreneurs seeking to set up a small jewelry shop or for large investors who can open luxury stores where silver and gold can be manufactures and sold.
Our lawyers in Malta can offer information on the legislation related to selling jewelry here.
The jewelry market in Malta
The Maltese jewelry market is quite developed, considering the number of manufacturers has increased considerably between 2010 and 2015. This is due to the fact that Maltese silverware plays an important role in the country’s patrimony which has led to an increasing number of auction houses.
Foreign investors interested in starting a jewelry company in Malta can set up shops or auction houses in which they can manufacture and sell jewels made of precious stones, gold and silver.
How to establish a jewelry company in Malta
The sole proprietorship and the limited liability company are the most suitable types of structures when creating a jewelry business in Malta. The registration procedure of the company is the same as for any other type of business, however, one must pay attention to the licenses needed in order to operate.
Our law firm in Malta can assist those interested in opening a jewelry business with the company formation procedure.
Licensing of jewelry businesses in Malta
After the jewelry company is registered, there are various special licenses which can be obtained. The street and market hawker permit are available for those setting up small jewelry shops in Malta. There is also the auctioneer license which is suitable for those opening auction houses.
It should be noted that all jewels made of gold and silver must be certified and hallmarked in accordance with the Maltese Government Consul’s requirements.
For assistance in starting a business in the jewelry sector, please feel free to contact our Maltese lawyers.