Malta has become a popular country for private persons and companies to register their yachts or commercial fleets in the country. Malta’s ship register is currently also the 6th largest in the world. The Melita Shipyard Facility in Paola is operated by the Maltese company Melita Marine group and the facility is specialised in the repair of superyachts.
The facility currently repairs and refits 4-5 superyachts every year and employs over 100 employees. A yacht is classed as a superyacht when it is longer than 30m, and the facility can handle much larger yachts up to 100m and 500,000 tonnes. The largest they handled so far was the 75m Plan B and in the next months the shipyard is expecting a 100m yacht.
The Melita Shipyard generates millions of euros each year for the Maltese economy. The company has a great reputation, and many yacht owners chose the facility for repair and maintenance services as the personnel is highly trained and the works are carried out to highest standards.
Aside from repair and maintenance, Malta offers an attractive taxation for yachts and commercial fleets. When choosing to fly under the Maltese flag and to purchase a yacht in Malta owners can benefit from a lower taxation, as the VAT of a yacht does not depend on the purchase price, but on the length and intended use (leisure or commercial). It is therefore possible to save a lot of money, as the VAT usually ranges somewhere between 4-16%.
If you are interested in finding out more about the yacht registration 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 taken when a yacht is purchased and registered in Malta.