The island nation of Malta is located in the heart of the Mediterranean, just about 90km south of Sicily. Registering a Pleasure Yacht in Malta bears many advantages for the owner and they can enjoy a lower VAT when purchasing the yacht, low costs for registration of the vessel, and other advantages that I will discuss in more detail in this article.
The Maltese government offers a very attractive VAT structure when the yacht is bought in Malta. The VAT does not depend on the value of the vessel, but the intended use and the size. The VAT for Pleasure Yachts in Malta can be as low as 5.4%, regardless of how much the yacht costs when it is purchased. This can be a considerable amount of money considering that you would have to pay a standard VAT rate of around 20% in other countries. It has become common practice to register the yachts and other marine vessels in Malta, and Malta’s ship register has become the sixth largest in the world.
Now you might think that you would have to moor the yacht in Malta as well, but this is not the case. The yacht only has to be in Malta at the time of registration, after that it can be moved to any other country. Of course you can also choose to moor your yacht it in Malta, there are plenty of convenient mooring locations.
Malta is a beautiful island, and it is worth a visit, especially in summer. The pristine waters in the Mediterranean have become a popular destination for sailing boats, and the island offers many interesting sights. Malta’s history and sights are unique, for example many of the Neolithic temples are older than the pyramids.
When you are thinking about purchasing a Pleasure Yacht, we strongly recommend taking advantage of the services of a professional legal office, such as Dr. Werner & Partner in Malta. Our experiences will be your gain, and we have helped many clients to purchase and register their Pleasure Yacht in Malta.