Benefits of yacht registration under Malta Flag 2023

Griffiths + Associates specializes in registration of all sized yachts and all types of ships in highly reputable Maltese jurisdiction.

Choice of the registry for the boat ­- is one of the most important decisions that a shipowner makes as soon as he purchases the boat.

Malta is an attractive law hub, where the registration procedure of pleasure and commercial vessels is a very streamlined and an effective tax minimization structures are implemented for the shipowners to enjoy the yacht owning in Malta.

This made the Malta flag registration process as the preferred in Europe.

Besides, there is a scheme of progressive reduction in registration and tonnage tax costs for younger ships that may also be applicable for smaller ships.

Malta accepts private pleasure yachts of any size and commercial yachts over 15 metres in length that may be based and operated anywhere in the world.

Maltese registered boat is issued with a Certificate of Malta Registry subject to be renewed annually.

The port of registry is marked on the vessel as ‘Valletta’.

To get the boat registered under Malta flag a foreign shipowner must appoint a local resident agent to act on behalf of this shipowner in respect of all matters relating to the registration process and to act as the owner’s judicial representative in Malta.

Our company may act as an appointed agent on behalf of the foreign shipowner and assist him in paperwork with Transport Malta during the registration process.

From the beginning of the 2021 the yacht registration in the European jurisdictions such as Holland, Belgium, Poland is only possible in the individual name of their residents or in the name of corporate entity registered as in this country and in other EU states as well, where at least 50% of shares is owned by their residents.

Enforcement of these requirements by some European jurisdictions turned the shipowners’ choice to the Malta benefit, since Maltese authority does not implement such requirements for the yachts registered in Maltese ship register.

Citizens and companies are eligible to register a yacht in Malta in their own name:

• Any European citizen;
• A company or other incorporated entity in any jurisdiction.

The shipowner may register his boat under Malta flag in the name of the legally established incorporation considering he is able to provide the legal documents of such company, including a certificate of good standing.

⚓   Malta is politically stable and well – recognized jurisdiction;

⚓   Maltese registration is valid globally;

⚓   Supported by the Government, Maltese ship register is one of the largest worldwide, well – completed to operate efficiently;

⚓   Service is ruled by principles – customer first, that resulting the applications processed in time;

⚓   There is no requirement for the boat to visit Malta during the registration procedure;

⚓   Obtaining the provisional registration to navigate the yacht immediately;

⚓   Ability to obtain Certificate of Compliance to trade to operate as commercial charter yacht;

⚓   EU citizens may avoid the need of company formation to register the yacht for sole use;

⚓   Ship may be registered in the name of the corporate entity established in any jurisdiction;

⚓   Shipowner may register a ship, which is currently under a mortgage;

⚓   Malta has no nationality restrictions for crew giving shipowner possibility to choose the crew onboard of his vessel;

⚓   No minimum manning policy for the yacht in sole use.

Author: © By Liudmyla Skryvanek