The registration of a yacht in Malta is not a complicated matter per se. However, you should put some thought into the country you are going to register in, and under which flag you are going to sail. The yacht registration is not only a matter of prestige, it also has some useful effects.
Operational requirements and prerequisites can be very diverse, and sales tax or other tax burdens can vary significantly depending on the state the vessels are registered in. Malta is an interesting choice for registering a yacht, as the country offers legal certainty as a EU member state, useable tax benefits, and a flawless flag image.
Additional benefits of a yacht registration under the Maltese flag:
• No limitation of the captain’s or crew’s nationalities
• No limitations on sale or transfer of shares of a company with ships
• No Limitations on lending, renting or selling the vessels
• Smooth registration for companies from all countries and every citizen of the EU
• No hidden costs or costs for inspections
• Low registration fees and low annual taxes
• The Maltese ship register offers a great service and can be contacted 24 hours, 7 days of the week
The procedure of a yacht registration
The registration can be carried out by yourself, a Maltese wharf, or you can consult a service provider for yacht registrations to help you. Even though the process is relatively simple, we recommend using the services of a specialised company. You might not know country-specific requirements and you could easily commit errors, which in the long term could lead to a higher taxation.
The yacht registration in Malta is split into two parts:
1. The temporary registration
This is already legally valid.
2. The permanent registration
The temporary registration is valid for six months. During this time, all required documentation and records will have to be prepared and submitted.
The registration process for commercial yachts is simpler and follows a slightly different procedure. This also includes some larger yachts carrying not more than 12 passengers and no freight.