Marsalforn Ltd comes up on the review schedule. It has never traded. The firm has administered it since incorporation in 2017, files its dormant accounts every year, and has had no instruction from it in that time beyond the annual signature run.
- Client: Marsalforn Ltd, incorporated in Malta in 2017. The firm provides the registered office, company secretary and accounting, and has done since incorporation.
- Ownership: Elena Farrugia, Maltese and resident in Malta, holds all the shares and is the sole director. She is also a personal tax client of the firm.
- Original purpose: the company was formed to buy and let a commercial property in Gozo. The vendor withdrew in 2018 and no alternative was pursued.
- Activity: none, ever. The company has not traded, has never employed anyone, and holds no assets beyond a €1,200 bank balance.
- Banking: one Maltese account. The only entries since 2019 are the bank’s own quarterly charges.
- Filings: dormant accounts and annual returns filed on time every year, prepared by the firm. The last set went in four months ago.
- Fees: the firm’s annual maintenance fee of €950 is paid each January by Elena Farrugia personally, from her own account.
- Documents on file: her passport, certified in 2017, expired in March 2025. Her Maltese identity card is current. The utility bill on file is from 2017.
- Screening: run at onboarding in 2017 and again in 2021, with no sanctions, PEP or adverse media results. It has not been run since.
- Asked why she keeps it: she says she may still buy something in Gozo, that dissolving and re-forming would cost more than the annual fee, and that nobody at the firm has ever suggested otherwise