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Backed by our expertise, high level of service, our dedication as well as our contacts within the super yacht industry in Malta, CSB Group is uniquely able to offer an integrated service for our clients’ yachting requirements. As a one-stop shop, CSB Group is one of the Malta-based specialists in yacht services with the necessary expertise to handle a variety of services including the registration under the Malta Flag. Under the Malta Flag a yacht may be registered as a Private yacht or a Commercial yacht.
Meet us at the Opportunities in Superyachts 10th Annual Conference
We are delighted to announce that CSB Group will be attending the Opportunities in Superyachts 10th Annual Conference, organised by Quaynote Communications, taking place on the 23rd of March.
The conference will be attended by Dr Edward Meli, CSB’s Senior Associate and Assistant Manager, who forms part of the Corporate and Commercial department together with the Yachting and Shipping team at CSB Group. CSB has the distinct capability of providing an all-encompassing service to clients who have an interest in registering their private or commercial yachts under the Malta Flag.
Yachting in Malta
Malta has, for years, been a maritime nation of repute. Its strategic location in the centre of the Mediterranean, natural harbours and extensive range of maritime services such as shipbuilding and repair, Freeport, bunkering, ship supplies and towage services have contributed to making Malta a leading maritime hub. The island’s location has given it great strategic importance and Malta is now recognised as being an entree-port to the EU.
Besides offering world-class berthing facilities to the superyacht industry, Malta offers yacht owners several attractive solutions. As a one-stop-shop, CSB Group, via their dedicated team can provide the required professional and dedicated assistance on temporary importation, onward supply relief, commercial yacht registration and VAT-efficient finance leasing structures to name a few.
Notably, there are two main types of yacht registrations under Maltese Law; one may either register their yacht as a pleasure yacht wherein the yacht could be used for personal reasons or for charters within Maltese territorial waters, or else one may alternatively register their yacht as a commercial yacht wherein the yacht could be used for commercial reasons including the option of sailing and chartering outside Malta’s territorial waters.
As of the end of December 2020, there were a total of 4630 yachts under the length of 24m registered under the Merchant Shipping Act. The number of Superyachts over 24m in length flying the Malta flag has increased from the previous year by 6.6% to a total of 859 Superyachts. Malta continues to maintain its position as a leader in ship and boat registration, as the largest register in Europe, as well as the 6th largest register in the world in terms of gross tonnage.
The benefits of registering a yacht under the Malta flag
- Competitive yacht registration costs;
- Low company formation and registration costs;
- Attractive tax incentives to yachts and superyachts owners encouraging commercial operation;
- 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
- Straightforward Registration Process;
- Serious and efficient maritime administration;
- Flag state inspectorate to ensure adherence to international standards;
- A sovereign state, member of the European Union with political, fiscal and social stability;
- A dynamic registration with one of the largest ship registers in the world and very active in EU for and international organisation such as the IMO;
- 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.
Malta Yacht Registration Process
The CSB Group team of advisors provides full support throughout the whole process required to register a yacht in Malta.
1. Submission of Documents
Structuring of tax efficient yacht owning framework.
2. Provisional Registration
After that the necessary documentation is provided and if the application for registration of a vessel under the Maltese Maritime flag is to the satisfaction of the Authority for Transport in Malta, a non-operational Provisional Certificate of Malta Registry will be issued against payment of the relative fee. The same Authority will immediately communicate to the indicated classification society requesting inspection with a view to the issue of the relative documentation (if required).
3. Permanent Registration
For permanent registration to be obtained, additional documentation will be required after the first month and the sixth month of the provisional registration of the yacht. If the vessel has not been permanently registered, after a year, registration must commence anew and the appropriate forms re-submitted and fees paid anew. Additional specific requirements may be imposed by the Maltese Transport Authority. The permanent Certificate of Malta Registry is renewable on an annual basis from the date of initial registration at a fee.
Ancillary Yacht Services
Yacht Financing
Through a healthy working relationship with an independent and licensed European yacht leasing company, CSB Group is able to offer support in relation to obtaining a financial or operating lease for the purpose of completing the financing of yachts.
Tax Structuring & Administration
Structuring of tax efficient yacht owning framework.
Co-ordination of Temporary Importation Procedure
Enabling yacht owners to stay within the EU and move freely within territorial waters for a specific period of time.
Yacht Certification
Sorting out of all necessary elements for commercial yacht certification.
Documentation Reviews
Evaluation of loan and security agreements, mortgages and more.
Statutory Mortgage Deeds Procedures
Registration, amendments, transfer & discharge of contracts registered over Malta registered yachts.
Enforcement of Claims
Against Malta registered yachts or within Maltese territorial waters.
Crewing & Compliance Regulations
Handling on-going formalities with the relevant Maltese authorities.
Naturally, if you have any questions or clarifications please do not hesitate to contact us on [email protected] and should you seek to engage us to assist you with the above, we would be able to guide and advise you further with a step-by-step procedure on what would be required in terms of due diligence, fees and the overall process.
OUR SERVICES
Shipping & Yachting Services
We offer the following related services.
Testimonial
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"We have used CSB Group's Yachting Services in Malta and we would like to highlight the team's professionalism and reliability throughout the registration process of our vessel. We were very pleased and very appreciative of the great availability of the staff to help us and answer our questions."
Stephanie Butikofer
Tikiaora Inc Limited of Tikiaora
This is to express my absolute satisfaction in my dealings with Sacha Farrugia in the process of opening my company over the last few weeks. I was really blown away with their level of professionalism and customer service. They went above and beyond to ensure that all of my questions and curiosities were met and understood, and their level of knowledge was excellent. I would have no problem recommending your company to others in the future and will continue to use your services myself.
Phoenix Classic Charters Limited
AT YOUR SERVICE
Need our assistance with shipping & yachting services?
CSB Group is authorised by the MFSA to register vessels under the Maltese flag in terms of the Company Service Providers Act, 2013. Get support from our specialised professionals.
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