7 applications for new yacht marinas in Malta

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.

About Philipp Sauerborn

In 2005, Philipp Sauer­born joined the firm of St. Matthew in Lon­don, one of the lead­ing Ger­man account­ing firms in Eng­land renowned for its exper­tise in cor­po­rate, com­mer­cial and tax law, as a depart­ment head. After three years, he was a part­ner and man­ag­ing direc­tor.
Towards the end of 2011, he decid­ed to move to Mal­ta, where he first worked at inter­na­tion­al law firms and con­sul­tan­cies in an employed and con­sult­ing capac­i­ty. Since the begin­ning of 2013, he has been a senior employ­ee at Dr. Wern­er & Part­ner. Mr. Sauer­born is cur­rent­ly com­plet­ing his ADIT ‑Advanced Diplo­ma in Inter­na­tion­al Tax.

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