Malta offers competitive and attractive incentives to yacht owners and charterers of pleasure yachts seeking to register their yacht under the Maltese flag. Besides being the eighth largest maritime flag in the world, and the second largest in Europe, Malta offers a solid legal framework which provides yacht financers with the desired level of security. The island provides furthermore high standard marinas and all facilities around all maritime sectors.
Yacht-owners registering their vessels under the Malta flag may benefit from the following advantages:
- 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 yachts.
- No trading restrictions.
- Preferential treatment for Maltese yachts in certain ports.
- Serious and efficient maritime administration.
- Flag state inspectorate to ensure 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.
- Sound multilateral and bilateral relations.
- Active participation in international shipping forums
Furthermore with effect from January 2006 the Malta VAT Department has introduced reduced rates of VAT in relation to finance leasing transactions, which could effectively reduce the Malta VAT on such transactions to as little as 5.4%. Click here for more details
Malta enjoys a strategic location within easy reach of most major European cities. It is fast establishing itself as a centre of excellence in the service, maintenance and refit of yachts of all sizes. The facilities, services, crews and workmenship which are available in Malta are of the highest standard. Our Services include:
- Berth Reservations
- Itinerary Planning
- Yacht Clearances/Formalities
- Technical Services and Support
- Cruising, Customs and Immigration Procedures
- Travel and Transportation
- Tourism Arrangements
- Exclusive Excursions
- Hotel and Restaurant Reservations
- Helicopter and Jet Rental
- Fresh Provisions/Supplies
- Courier Service
- Freight Handling
- Banking Transactions
- VIP Concierge Services
- On-board Entertainment
- Emergency repairs
- Sail repairs and valeting
- Duty Free provision it is recommended to contact us beforehand you’re your itinerary
To own a boat is a rare pleasure available to a relative few. With ownership however, comes time-consuming responsibilities that diminish your enjoyment. We have several packages, each designed to cover a certain degree of requirement. A well maintained yacht leads to a higher degree of confidence in the vessel, leaving the owner and crew more relaxed to enjoy time aboard. Everything is aimed at the one and only goal ‘more time and fun onboard.
In the absence of yacht owners/skippers on board, we offer a complete care and maintenance schemes at very reasonable rates comprising the following:
- Daily Checking of Mooring lines
- Routine weekly cleaning
- Regular running of engines, checking oil levels, fuel and water.
- Battery Maintenance
- Bilge checking and pumping as necessary
- and de-humidifying interior airing
- Internal cleaning
- Annual boat maintenance
- Service and repair work
- On agreement, during bad weather spells, our crew also continuously checks all mooring lines for the duration of bad weather even during the night.
- Our turn key boating package offers are designed to make boating an enjoyable stress free experience, giving discerning owners the opportunity to arrive at their boat with the covers off, engines checked, water and fuel tanks filled, and any provisioning. When departing, leave the boat and we will arrange everything that needs to be sorted furthermore covers, linen, cleaning fridges etc.
- Enjoy your boat to the full and eliminate hassle, worry and work. Whether or not your boat is in use, you can be sure it’s being looked after every bit as well as you would yourself. Finally, we believe communication is fundamental to our exceptional boat-care partnership, so it is our policy to keep you fully informed so that you can rest assured your beautiful boat is in the very best hands.
What steps are involved?
Yacht registration in Malta is a simple and straight forward operation, which can be split as follows:
Step 1 – Incorporation of a Maltese Onshore company
The reason for incorporating a Maltese company is for the purpose of registering the yacht in the name of a Maltese body.
The yacht owner has a choice of two types of companies depending on whether he wishes to disclose his identity or not and these are as follows:
- Onshore Holding Company (the owner appears as share holder)
- Onshore Holding Nominee (the owner appoints nominees as apparent shareholders)
Step 2 – Yacht Registration under the Malta Flag
Upon incorporation of the company we will proceed to effect the yachts registration. This is done in two stages:
During this six month period the yacht may navigate freely with a provisional certificate of registration. This gives the owner sufficient time to obtain cancellation of the previous registration and to prepare the necessary documentation. A point to mention is that at this stage the bill of sale to the Maltese company is not needed hence the owner as a trial period may utilize this period. Should the owner decide to go ahead with permanent registration and providing all the necessary documents have been obtained we may proceed to register the yacht permanently.
Upon receipt of all the necessary documents, including a bill of sale to the holding company a permanent registration certificate is issued.
At no stage in the operation do transfer taxes apply.
The Cost of Maltese Flag Registration
The cost of registration depends on the type of company that the owner wishes to incorporate i.e. an onshore company (owner appears as share holder) or an onshore nominee (owner appoints licensed nominees as apparent shareholders)
The initial registration costs are incurred only once for setting up and first year’s operation. During the ongoing process the annual costs only apply. The duration of the lease agreement may vary between 12 and 36 months.
Additional information may be obtained from the official Transport Malta website.
SSCI Ltd can assist you in the full process to register a yacht in Malta. If you have any queries or would like any further clarifications kindly Contact Us.