The legal terms for business transfer in Malta are laid down in the Companies Act.
Types of business transfer
Transferring ownership can take place within the family, to employees or to third parties. Reasons for transfers can include personal decisions (early retirement or change of profession), changing competitive environment (changing markets, new products or new channels of distribution), or personal events (divorce, ill health, or death).
The transfer of a business may take place through the sale of a company as a going business concern. It may also take place through the transfer of shares or debentures, where such a transfer is made by private writing or a notary's deed, depending on the circumstances of the individual case.
Taking over an existing company is a worthwhile alternative to setting up a new business.
The 'Starting a Business' and 'Business Support' sections on the Malta Enterprise website should prove useful in providing information and advice on issues related to business transfers.