Projects Malta Limited to enhance the yachting industry of Malta

Ear­li­er this year Projects Mal­ta Lim­it­ed was found­ed as a part­ner­ship between the Roy­al Mal­ta Yacht Club, Yacht­ing Mal­ta Lim­it­ed and the gov­ern­ment. The aim of this part­ner­ship is to enhance the yacht­ing indus­try of Mal­ta. The RMYC and Yacht­ing Mal­ta have a 49% stake of the com­pa­ny and the gov­ern­ment has 51%. Accord­ing to Prime Min­is­ter Joseph Mus­cat, the project will be ben­e­fi­cial to the tourism and yacht­ing indus­tries and it will try to attract high-pro­file yacht­ing events, such as boat shows, con­fer­ences and regat­tas. The goal is to gen­er­ate rev­enue for the econ­o­my by mak­ing Mal­ta more pop­u­lar as a yacht­ing loca­tion and to enhance its rep­u­ta­tion.

Mal­ta has been pro­mot­ing their ship reg­is­ter for a while now, and due to attrac­tive struc­tures for com­mer­cial fleet oper­a­tors and pri­vate boat own­ers, it has become the sixth largest ship reg­is­ter in the world and the largest in Europe. Some of the ben­e­fits are low reg­is­tra­tion and admin­is­tra­tion costs, as well as an attrac­tive VAT rate for indi­vid­u­als who decide to buy a yacht or flag out to Mal­ta.

The islands are quick­ly grow­ing into a pop­u­lar spot, not only for yacht own­ers, but also for sail­ing enthu­si­asts tak­ing part in regat­tas and peo­ple enjoy­ing the beau­ti­ful Mediter­ranean waters around the islands. Mal­ta gen­er­al­ly has a lot to offer regard­ing sight­see­ing, beau­ti­ful waters, cul­ture and his­to­ry, and it is def­i­nite­ly worth a vis­it.

If you would like more infor­ma­tion about the reg­is­tra­tion or pur­chase of a yacht in Mal­ta you are wel­come to con­tact us at the office of Dr. Wern­er & Part­ner. We are spe­cialised in the nec­es­sary steps that need to be car­ried out when a ves­sel is pur­chased and reg­is­tered. Keep in mind that it is not nec­es­sary to have the ves­sel moored in Mal­ta if it is reg­is­tered to you, instead, you can take it any­where you wish.

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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