There are many legal and bureaucratic requirements to be taken into consideration when registering a boat. It is not possible anymore to simply buy a boat and be a sailor. In addition to safety requirements, the choice of the country to register the vessel in has become more important with regards to the tax burden. Malta has become a popular choice in recent years, especially because of the low taxes. But how much do I need to pay in taxes and when, and what are the requirements of the vessel?
It depends on different factors. A distinction is generally made in the size and purpose of the vessel. This will determine the tax rate. A commercially used yacht (Commercial Yacht) has other requirements with regards to safety and features as a privately used yacht (Pleasure Yacht).
Buying the vessel in Malta can be worth it, as the VAT is not a flat rate of 19 or 20%. It rather depends on the size of the vessel and its intended use. This can significantly reduce the amount of VAT down to a rate of 12%. However, Malta is not only interesting for boat owners because of the low taxes, it also captivates with its location in the Mediterranean, pleasant weather and incredibly clean waters.
What many boat owners do not know is that the boat does not have to be moored in Malta all year round. It can be moved freely in the EU, and it is therefore possible to have it moored in other countries as well. However, it is important to have a contact person in Malta, as the Maltese authorities may have questions that need to be answered by the boat owner or administrator. The office of Dr. Werner & Partner is also specialised in yacht and ship registration in Malta, and offer complete services to meet all the registration requirements.
