uisition or sale of vessels, the various aspects of eligibility for registration, the actual registration under the Maltese flag, insurance and financing arrangements, the employment of crew members, registration and enforcement of mortgages and advise on their implications, charter agreements and maritime claims and litigation.
Why Register your Vessel in Malta ?
There are various advantages which include:
Such fiscal incentives include:
- the registration of an exempt ship;
- the issue, allotment, purchase or transfer of any security or interest in a shipping organization;
- the sale of the ship;
- the registration or transfer of any mortgage or charge over any ship or shipping organization; and
- the assignment of rights and interests or the assumption of obligations in respect of any ship.
Eligibility for Registration
All vessels including pleasure/commercial yachts, ships, oil tankers and oil rigs can be registered under the Maltese flag. Certain restrictions may apply in the case of very old vessels.
It is important to note that a foreign shipping company need not incorporate a new company in Malta in order to register its vessels in Malta as long as a resident agent in Malta is appointed. We can offer our assistance in this regard.
The Maltese Merchant Shipping Act is largely based on its UK counterpart, whereby ship and yacht registration in Malta is divided into 2 main stages:
(i) the provisional registration (valid for 6 months extendable to 1 year), and
(ii) the permanent registration.
Once a provisional registration certificate is issued by the Maltese Registrar of Ships, there are 6 months within which all necessary documents have to be submitted so that a permanent registration certificate can be issued.
Specific Commercial Yacht Registration
Under Maltese law it is possible to register a yacht as a commercial one, thereby benefiting further from various fiscal advantages available under Maltese/EU law. A Yacht can qualify to be registered as a Commercial Yacht when all the technical requirements set out in the Commercial Yacht Code are satisfied. A survey by an approved Malta Government Surveyor will establish whether the yacht satisfies the requirements set out in the Maltese Commercial Yacht Code.
The various fiscal incentives attached to the registration of a vessel as a commercial yacht include:
Certain exemptions may be availed of only in specific circumstances, and thus we shall be glad to provide specific advice targeted for your particular needs.
Please feel free to contact us for advice and assistance on any of your yachting and shipping requirements.
Malta is one of the preferred jurisdictions for the registration of ships and yachts, the reason being a number of tax exemptions and other advantages which are applicable to ships/yachts and their companies in Malta. Indeed Malta has kept its reputation as a maritime hub in the middle of the Mediterranean Sea.
Our services in this area include advise and assistance on the acq-
Copyright © Portelli & Portelli Advocates. All rights reserved.
Use of this website or of any information contained in it is made subject to the Disclaimer.
99 Triq L-Arcisqof, Valletta, MALTA
Tel: +356 2123 9151; +356 7905 5392