Malta is a small island state where foreigners can enjoy a multitude of opportunities, including in the maritime sector, due to its strategic geographical position. Recognized as a port of entry for European Union countries, yacht owners in Malta must consider registering them before using them. We present in this article some essential information about yacht registration in Malta, with the mention that the formalities can be managed by our team of lawyers in Malta.
| Quick Facts | |
|---|---|
| Provisional yacht registration | Temporary registration is valid for 6 months, during which the process for permanent registration is initiated. |
|
Permanent yacht registration |
After all documentation is verified and fees are paid, and the yacht meets all the necessary requirements, you will receive the permanent registration certificate. |
|
Changing yacht name allowed (YES/NO) |
Yes |
| Global validity of registration | The registration of a yacht in Malta is valid worldwide, regardless of its physical location. |
| Mandatory Maltese residency for yacht's owner (YES/NO) |
No |
| Tax incentives |
There are plenty of tax incetives for yachts and superyachts in Malta introduced in Malta Yacht VAT scheme. Our lawyers in Malta can explain this scheme and benefits to you. |
| Reduced VAT for yacht leasing |
Reduction in VAT depends on factors such as the length of the yacht and its means of propulsion. |
| Required documents for pleasure yacht registration in Malta |
– builder certificate of the yacht, – invoice received upon purchase, – survey certificate from a recognized surveyor, – verification of marking notes and signed carving, – abandonment of the original provisional certificate, etc. |
| Required document of commercial vessels |
– certificate of survey, – certificates of tonnage and previous registration, – inspection report and title deed, – radio application and reports, – International Antifouling Certificate, etc. |
| Safe manning application | Yacht owners need to complete a safe manning application form, a standard document provided by authorities. |
| Reduced VAT on fuel |
If a yacht registered in Malta is used outside the EU for around 90 days per year, the owner can benefit from a reduced VAT on fuel. |
| Crew employment |
You can hire crew on your yacht. Contact our lawyers in Malta if you are interested in this service. |
| Is Malta an European Union port of entry?(YES/NO) |
Yes |
| Why register a yacht in Malta |
– internationally recognized maritime flag, – tax incentives, – crew employment option, – global validity, – respected maritime jurisdiction, etc. |
| Assistance | Our law firm in Malta can help you register a yacht in the country, as well as help you with other legal services. |
Yacht registration in Malta – what you need to do
Yacht marinas can be found anywhere in Malta, and yacht owners can benefit from a range of maintenance, repair services, and other facilities, including luxury ones. However, according to the legislation in Malta in line with the International Maritime Organization, yachts must be registered in this country. Let’s go through the yacht registration in Malta review, with the mention that our lawyers in Malta can handle all the formalities, even if you are outside Malta:
- Authorities inspect vessels that are older than 15 years. This is available for the pleasure registration of a vessel in Malta.
- The builder certificate of the respective yacht is required, as well as the invoice received upon purchase.
- A recognized surveyor will issue a survey certificate.
- Marking notes and duly signed carving will be checked.
- The original provisional certificate will be abandoned.
Regarding the provisional registration of commercial vessels in Malta, the following formalities must be observed:
- In addition to the current Certificate of Survey and the old one, if applicable, certificates of tonnage and the previous registration certificate will be required.
- An inspection report will be made and the title deed will be requested, one of the most important documents.
- Radio application and reports are other checks made by the authorities before registration.
- The International Antifouling Certificate is also required foryacht registration in Malta.
- Yacht owners must complete the safe manning application form, a standard document provided by the authorities.
- We mention that the payment of boat registration fees in Malta must be proven.
It is important to note that for permanent yacht registration in Malta, applicants must present International Tonnage Certificate, original Deletion Certificate, and original Builders Certificate, among others. We remind you that these are some of the formalities to consider when you want to register a yacht in Malta, but for all the details you can contact our Maltese lawyers. In addition, our specialists are the ones who can offer you legal advice for yacht finance lease transactions, clearing customs of vessels, reviewing loan agreements and mortgages among others. Talk to us about boat registration fees in Malta.
What are the advantages of yacht registration in Malta?
Yacht registration in Malta comes with a number of benefits, including no customs duties and no VAT if you import a yacht into EU waters and want to export and use it for private matters. Goods imported from outside the EU, but which stop for the first time in one of the Maltese ports before the final destination are exempt from VAT and have the status of free movement.
If you have a yacht registered in Malta that you use outside the EU for about 90 days a year you can benefit from a reduced VAT on fuel. Here are some other benefits to keep in mind:
- The yacht does not need to be physically located in Malta if it is registered.
- Yacht registration in Malta is valid all over the world.
- Owners of yachts for pleasure purposes can hire both local and foreign workers.
- You can easily change the name of the yacht.
You can find out more about boat registration fees in Malta from our Maltese lawyers, who can support you with the necessary formalities. Do not hesitate to discover our legal services and details about the formalities imposed.
Malta, an excellent choice for investment
The insular state of Malta is appreciated for its vast business opportunities, an advantageous tax system, confidentiality, and protection for offshore companies, among others. The gaming sector, but also the pharmaceutical sector is among the most important, which brings huge sums to the state budget. English-speaking and highly skilled labor force and the possibility to benefit from a series of pro-investment policies are other important attributes of Malta. Here are some statistics about the Maltese economy:
- According to the 2020 Doing Business report, Malta ranked 88th out of 190 world economies in terms of business conditions and climate.
- The total FDI for Malta in 2020 was around USD 241 billion.
Want to know more about yacht registration in Malta? We invite you to contact our law firm in Malta and find out all the information on legal formalities. We can tell you more about boat registration fees in Malta.