The Maltese economy relies on the financial, online gaming and trading industries, as its manufacturing capacity is not favored by the fact that the country is surrounded by waters. However, this is not an impediment for the country to create a suitable environment for other industries such as fishing and aquaculture and thus, take advantage of nature.
Foreign investors who want to open a company in the fishing industry must comply with certain regulations. Our lawyers in Malta can explain the laws related to setting up a fishing business.
The main laws related to fishing in Malta
There are several steps related to opening a fishing company in Malta, however before getting there, a local or foreign investor should first know what the legislation says. From this point of view, the main law governing fishing in Malta is the Fishing Vessels Regulations which was last amended in 2014. This law was harmonized with the EU regulations on fishing.
Other laws related to starting a Maltese fishing business are the Enforcement of Sea Fishing Convention, the Registration of Fishing Boats Regulations and the Fisheries Conservation and Management Law.
Our law firm in Malta can assist with the registration process of a fishing business.
Steps to open a fishing company in Malta
As mentioned above, our Maltese lawyers can handle the incorporation of the fishing business with the Commercial Registrar. However, this is only the first step when setting up this type of venture in Malta. Following that, the owner must purchase and register the vessels which will be used for the company’s activities with the Fishing Vessel Registry.
The last step will be to apply for a special license with the same registrar which categorizes commercial fishing vessels into:
- – professional fishing boats used for full-time activities;
- – professional fishing boats used for part-time activities;
- – auxiliary boats used in fishing operations.
The Fishing Vessels Regulations provides for certain equipment which should be onboard of the boats while on the water.
If you need more information on the legislation related to commercial fishing, please contact us. You can also rely on our lawyers in Malta for assistance in registering the fishing company.