Yacht and ship registration
Yacht and ship registration under the Malta flag and the operation of Maltese ships is regulated by the Merchant Shipping Act of 1973, a law based mainly on United Kingdom legislation and supplemented by a comprehensive set of rules and regulations.
The strength of the Malta flag is evidenced by the reputation and size of the Malta register turning Malta into an international maritime centre providing the whole range of maritime services. We are able to assist you with the registration of your yacht or ship which is usually a speedy procedure.
Why should you register your yacht or ship in Malta?
Registration of ships and yachts under the Maltese flag offers many advantages:
- low company formation and ship registration costs
- no restrictions on the nationality of the ship owner
- complete tax exemption for private yachts and ships over 1,000 Gross Tons
- effective tax rate of 4.17% and VAT exemption for chartering of commercial yachts
- no restrictions on the nationality of the master, officers and crew
- no restrictions or taxation on the sale or transfer of shares of a company owning Maltese registered ships
- no restrictions or taxation on the sale and mortgaging of Maltese registered ships
- no trading restrictions and preferential treatment to Maltese ships in certain ports
Any vessel can be registered under the Maltese flag provided it is owned by a Maltese registered company or by a person habitually resident in Malta.
The formation of a Maltese company is a straightforward operation and can be taken care of by us, usually within a few hours of receiving the necessary documents from the client. There are no nationality requirements as to both the shareholders and directors and usually the real ship or yacht owner will be the shareholder and director of the company. We will act as the company’s authorized representative in Malta so that we will take care of all the company’s administration in Malta.
A vessel is first registered provisionally under the Malta flag for six months during which period all documentation must be provided and the vessel will then be registered permanently. For more information as to the documentation required, please contact us.