Malta has, for years, been a maritime nation of repute. Its strategic location in the heart of the Mediterranean Sea, deep natural harbours and well equipped ports which offer a haven for international shipping, as well as an extensive range of international maritime services such as shipbuilding and repair, Freeport, bunkering, ship supplies and towage services have historically contributed to making Malta a leading maritime hub.
Malta has retained its importance in the shipping world not only because of its geographic location but also because it offers attractive and competitive incentives, thereby making Malta one of the top flags in the world. Malta’s solid roots as a maritime settlement continue to enhance and expand the island’s footing in the maritime industry.
CSB Group’s maritime practice enjoys wide professional recognition, placing us amongst the leaders in Maltese ship registration and finance transactions in Malta. We provide a comprehensive package of legal and advisory services pertaining to all aspects of shipping, including purchasing and leasing of yachts, company formation, registration of vessels, drafting of documents and provision of legal opinions on statutory mortgages in Malta amongst others.
Vessels of all types, from passenger ship to yachts, tanks, oil rigs and other vessels can all be registered under the Malta Flag, some of which may benefit from fiscal advantages. Contact us today for Malta Ship Registration assistance.
Furthermore, CSB Group will be able to assist you with the necessary ongoing administrative work concerning the regulatory, technical and administrative upkeep of Malta flagged vessels and their respective owning companies being either Maltese or international owners.
Support in this area includes advice and assistance with respect to the following:
- Malta Flag Ship Registration
- Incorporation of a Malta Shipping Company
- Ongoing Shipping Support
- International Ship Owners and Bareboat Charters
- Registration of Ship Mortgages
What are the advantages of flying the Malta Flag?
- Yachts may be registered on behalf of a company or another entity irrespective of nationality;
- Low company formation, ship registration and tonnage tax costs;
- Attractive tax incentives to yacht and superyacht owners;
- No restrictions on the sale or mortgaging of Maltese registered yachts and superyachts;
- Twenty four hour, seven days a week service from the Authority for Transport in Malta in response to urgent matters;
- A good international reputation as a flag of choice and confidence;
- Availability of a whole range of maritime services including very reputable and experienced legal and corporate services supporting registration, management and administration;
- A dynamic administration with one of the largest ship registers in the world and very active in European Union fora and international organisations;
- A clear strategic vision supporting business and the marine industry;
- A strategic geographical position.
Who may register a yacht/ vessel under the Malta flag?
A yacht/vessel may be registered in the name of Maltese Shipping Companies or may otherwise be registered in the name of a body corporate constituted anywhere in the world, and an individual from the European Union and Switzerland in his/ her own name by virtue of a Resident Agent service.
What constitutes a commercial yacht?
A commercial yacht must be of at least 15 meters in length and registered as a commercial yacht under the Malta flag. A yacht registered commercially must undergo a survey by an approved surveyor (by the Authority for Transport in Malta) and must be in compliance with the Commercial Yacht Code drawn up by the Merchant Shipping Directorate within Transport Malta.
What are the advantages of registering a commercial yacht under the Malta Flag?
- No trading restrictions imposed on Maltese registered commercial yachts;
- Fast crew-acknowledgement certification process with STCW endorsements processed within a maximum period of three months from acknowledgement;
- No VAT would be chargeable by the yacht owner during the operation of a commercial yacht if the person leasing the yacht uses it for an economic activity. However, the yacht owner may still recover VAT which was incurred on goods and services acquired to the yacht owner’s chartering operations;
- When a licensed shipping organisation sells a yacht, no Malta Tax is charged;
- No Malta Tax is due when disposing of shares in a licensed shipping organisation.
What age can the vessel be to be registered under the Malta flag?
A commercial or a pleasure yacht can of any age as long as they are considered to be seaworthy. Merchant vessels over the age of 15 years must first undergo an inspection prior to the registration.