Malta Yacht Registration Services
Yacht owners registering their vessels under the Malta flag may benefit from various advantages. Under the Malta flag, a yacht may be registered as a Private yacht or a Commercial yacht.
The registration procedure whether private or commercial is a straight forward process when having the expertise and subject to all documentation being in order. Yachts are first registered provisionally under the Malta flag for six months. This is extendible for a further period, or periods not exceeding in the aggregate six months, during which all documentation needs to be finalized.
After that the necessary documentation is provided and if the application for registration of a vessel under the Malta 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 Authority for Transport in Malta will also immediately communicate to the indicated classification society requesting inspection with a view to the issue of the relative safety certificates, Certificate of Survey and International Tonnage Certificate.
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 a new.
The Authority for Transport in Malta may impose additional specific requirements in relation to different types of vessels. The permanent Certificate of Malta Registry is renewable on an annual basis and an annual fee is due. Renewal is due annually from the date of initial registration.
Advantages of Yacht Registration in Malta
Malta offers a number of advantages for the registering of pleasure and commercial yachts, which advantages include the following:
- A widely recognized, reputable and efficient EU based yacht registry;
- Efficient procedures for the registration, transfer and deletion of Maltese yachts, and the registration, transfer and discharge of mortgages registered over them;
- Presence of an active superyacht industry and world class berthing facilities;
- Serious and efficient maritime administration;
- Easy access to decision makers within the competent authorities;
- 24 hour availability of officers at the authority for transport in Malta;
- Availability of technical, legal, corporate and tax administration expertise;
- No restrictions on the nationality of the master, officers and crew serving on Maltese commercial yachts, nor on the nationality of shareholders and directors of Maltese shipping companies;
- All business is conducted in the English Language;
- A large and expanding double tax treaty network;
- Sound multilateral and bilateral relations with a number of other countries.
Commercial Yacht Registration in Malta
Yachts in commercial use which are 15 metres in length or more, do not carry cargo and carry no more than 12 passengers, can be registered as commercial yachts subject to compliance with the requirements of the Commercial Yacht Code drawn up by the Merchant Shipping Directorate within the Authority for Transport in Malta. The Code has gained acceptance and recognition within the yachting industry.
The first step towards registering your commercial yacht under the Malta flag is the initial pre-registration survey to ensure compliance with the Code. Specific issues would be discussed between the approved Government surveyor and the Malta administration. The next step would be the issue of Certificate of Compliance, which will enable the yacht to operate commercially.
Advantages of Commercial Yacht Registration in Malta
- Malta offers a number of advantages to owners operating commercial yachts, which advantages include the following:
- Maltese requirements are well known to main shipyards and main classification societies;
- No Malta VAT is chargeable by the yacht owner during the operation of the yacht if the lessee of the yacht concerned uses it for an economic activity;
- Input VAT incurred on goods and services acquired and attributable to the yacht owner’s chartering operations would be recoverable;
- No restrictions on the nationality of the Master, Officers and crew carried on board Maltese yachts;
- Flexibility of ownership – Yachts registered under the Malta flag may be owned by any citizen of the European Union or Switzerland or by any Maltese or foreign companies after that the necessary formalities have been abided with.
The Valsen Advantage
- Speedy, Efficient and consistent Services.
- Relentless effort to obtain bank accounts.
- Expert advice on structuring options.
- Dedicated ongoing compliance support.