The kind of people that decide to buy a yacht are usually people who enjoy a certain lifestyle, or people who feel they belong to the sea and appreciate life on water. However, when looking at the prices for yachts, it is safe to say that this is not going to be a careless impulse purchase.
As part of my work for Dr. Werner & Partner I often meet clients who decide to purchase a yacht, and then register it in Malta. The island has several marinas where motor yachts and sailing yachts can be moored and cared for all year long. You can find boat owners from all over the world. There are many very good reasons to register a yacht in the small Mediterranean country of Malta.
If you have visited Malta before, you will know that the Mediterranean has waters so clear that you can see the turquoise bottom. One of the most popular destinations is the Blue Lagoon. At the weekend, many boat owners can be found here enjoying a day at sea.
Malta enjoys about 300 days of sunshine a year, and bad weather is only expected in winter when most northern Europeans think about Christmas anyways. From March onwards it is already warm enough to venture out to the sea.
Apart from the pleasant environment, there are also financial reasons for registering the vessel in Malta. The tax laws in Malta are based on the price of the vessel which can save you between 10 and 14% of the cost for a boat. This also depends on the size of the vessel, and its intended use. Most of my clients opt for the so-called Pleasure Yacht, as this represents the intended use, and can be proven as well. The important aspect is, that not the full 20% VAT has to be paid, and the purchase price can be reduced significantly.
If you are interested in more detail about a yacht registration in Malta, you are welcome to contact our offices, and we can arrange for a personal consultation.
