The Prime Min­is­ter of Mal­ta, Joseph Mus­cat, has recent­ly respond­ed to a Par­lia­men­tary ques­tion, and con­firmed that there are 7 appli­ca­tions relat­ing to new yacht mari­nas in Mal­ta and Gozo.

The pro­pos­als are a new yacht pon­toon for Sliema, the rede­vel­op­ment of the dock area at Cospicua, the rede­vel­op­ment of an unused water polo pitch in Marsas­cala includ­ing mixed use facil­i­ties, such as res­i­den­tial and tourist accom­mo­da­tion, com­mer­cial spaces and an all-weath­er yacht mari­na, as well as boat moor­ing, yacht berths and a float­ing pon­toon for Gha­jn­sielem, and the instal­la­tion of a new mari­na with improve­ments to the land­side at Sa Mai­son in Flo­ri­ana.

Whether or not these appli­ca­tions will be approved and when is not clear. How­ev­er, these pro­pos­als reflect the demand for moor­ing spaces in Mal­ta, as many of the avail­able mari­nas are fill­ing up quick­ly. Mal­ta is now the 6th largest ship reg­is­ter in the world, and the largest in Europe, and more yacht own­ers and com­mer­cial fleets are choos­ing Mal­ta as a flag coun­try.

Some of the rea­sons why Mal­ta is such a pop­u­lar flag coun­try are the favourable tax­a­tion and low cost for reg­is­tra­tion or VAT when a yacht is pur­chased. The gov­ern­ment is offer­ing some attrac­tive incen­tives for yacht own­ers to re-flag to Mal­ta, and it is worth com­par­ing the options you have. If you would like more infor­ma­tion about the re-flag­ging process and the advan­tages you are wel­come to con­tact the legal office of Dr. Wern­er & Part­ner in Mal­ta. We are also spe­cialised in the yacht reg­is­tra­tion and have assist­ed many clients to pur­chase their yacht and take advan­tage of the low costs and VAT.

Leave a Reply

Your email address will not be published.