By providing a fully transparent and cost-effective yacht and ship registration process, Malta – as a full member of the European Union – has in recent years managed to become the largest maritime shipping registry in Europe.
With a solid legal framework which provides yacht owners and finance lenders a high level of security, the Maltese Flag has firmly become a flag of confidence in the maritime industry.
Yacht-owners choosing to register under the Malta flag could benefit from:
- Low company formation and registration costs.
- Complete tax exemptions, and benefits for owners, charters and financiers of Maltese yachts.
- No restrictions on the nationality of the master, officers and crew serving on Maltese vessels.
- No restrictions on the nationality of shareholders and directors of Maltese shipping companies.
- No restrictions on the sale and mortgaging of Maltese-registered yachts.
- No trading restrictions.
- Preferential treatment for Maltese yachts in certain ports.
- Serious and efficient maritime administration.
- Flag state inspectorate ensuring adherence to international standards
- Easy access to decision-makers within the competent authorities, backed by a qualified and efficient team of technical officers available for urgent matters on a 24- hour basis.
Apart from an effective and highly transparent Malta Flag registration [link to Yacht Ownership page] process, the local authorities – in full co-operation with EU decision makers – have introduced fiscal incentives for yacht owners, such as:
- YACHT LEASING SCHEME
whereby, upon importation into Malta, a yacht could effectively reduce the VAT due on the purchase of the yacht to as little as 5.4%.
Find out more HERE
- SPECIAL VAT TREATMENT OF SHORT-TERM CHARTERING
Whereby a yacht choosing to charter out of Malta could benefit from effective an effective VAT rate on the charter fee as low as 5.4%.
Find out more HERE