Superyachts in Malta — Repair facility brings millions into economy

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.

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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