Yacht registration in Malta falls under the regulations of the Merchant Shipping Act, Chapter 234. Yachts are registered with the Malta Ship Registry that also provides other services. The types of yachts that can be registered in Malta are:
The only requirement for boat registration is that the vessel is owned by a Maltese citizen or a Maltese shipping company. Foreign owners and companies are required to appoint experts in Malta to handle the boat registration procedure.
Boat registration has two stages - provisional and permanent - and implies the following documents to be submitted with the Malta Ship Registry:
Our company formation agents in Malta will provide you all information regarding the types of yachts depending on their length and tonnage.
During the provisional registration, that cannot take more than six months, the owner must obtain a certificate of survey for the yacht.
The documents required for permanent registration are:
These documents must be submitted with the Merchant Shipping Directorate that will issue the yacht’s certificate of registry. This document has one-year validity and can be renewed on a yearly basis.
One of the greatest advantages of vessel registration in Malta is the simple and cheap procedure. The annual renewal fees are also among the lowest in Europe. There are no restrictions on selling or transferring shares of a Maltese company owning a vessel. As mentioned above, international ownership of Maltese vessels is also allowed. According to the Maltese Shipping Act, boats can be registered while under construction. In terms of taxation, Maltese shipping companies with no income or income earned from shipping activities only may submit simplified tax returns according to the Tax Management Act.
For details about all advantages of boat registration, please contact our Maltese company incorporation agents.