Malta’s Ship Register is currently the 1st largest registry in Europe and the 7th largest in the world with over 50 million tonnes and 1150 vessels registered. Malta’s yacht registry is part of the European Union Register – Vessels fly the Malta flag and have access to cabotage within the European Union. Safe, credible, quality Register, listed on the White List of Paris MoU on Port State Control.
Vessels may be registered in the name of legally constituted corporate bodies or entities irrespective of nationality, or by European Union citizens, as well no restriction applies as to nationality of captain, officers and crew members.
– Highly competitive registration and maintenance fees and “tonnage fee/tax” with discounts for new vessels and surcharge for vessels over 15 years old
– Registration on a 24/7 basis by the Malta Maritime Authority (MMA)
– Ship owners, operators and creditors benefit from attractive tax incentives
– Various types of vessels can be registered from super yachts to vessels still under construction
Additional services offered in Malta: bunkering, ship supplies, towage services. Ship building, repair yards, modern facilities for transhipment, cruise liner hub, international yacht marinas, a very successful Freeport and oil terminal, high level training for officers and a renown nautical school.
TAX BENEFITS TO REGISTER IN MALTA
- A tax regime which is more advantageous to the owner of the yacht
- Low company formation and registration costs
- Confidentiality of the Beneficial Owner
- No restriction or taxation on the sale or transfer of shares of a company owning a Maltese Ship
- No restriction or taxation on the sale or mortgaging of a Maltese registered vessel
- No trading restrictions and preferential treatment to Maltese ships in certain ports
- No hidden costs and no inspection fees
- As of 2006, the Maltese Commercial Yacht Code extends to commercial yachts the same benefits which are applicable to trading ships in Malta
- Very attractive leasing scheme for acquiring yachts with a maximum financial period of 3 years (36 months) and a minimum residual value of 1% of the base price
- For commercial yachts, their value is exempt from VAT and goods purchased to supply them are deductible
- VAT exemption on short-term chartering of commercial yachts
- Import of a commercial yacht into the EU via Malta is duty free
ELIGIBILITY FOR REGISTRATION
All types of vessels, from pleasure yachts to oil rigs, including vessels under construction may be registered, provided, inter alia, they are wholly owned by legally constituted corporate bodies or entities irrespective of their nationality, or by European Union citizens.
Our team of professional yacht agents will happily guide you to decide on the best suited flagging options for your yacht, based on the intended use of the vessel (private use, charter, VAT reclaim, export, …) as well other parameters such as taxes, insurance, mortgages and loans, boat & yacht finance and refinancing, all to fit with your personal circumstances.
While we are happy to register your vessel in the country of your choice, including through purpose-built holding companies and tax efficient ownership legal structures if necessary, we do have Memorandum of Understanding (MoU) to enable fast track registration with the following commercial ships and pleasure yachts registries: