Malta Shipping Register – An Option Worth Choosing
- Updated Regulatory Fee Calculator
- Low Cost Corporate Structures
- Tax & VAT Efficient Jurisdiction
- Protection for Financiers & Mortgagees
Update Regulatory Fee Calculator
Transport Malta has recently updated the regulatory fee calculator for registering a vessel in Malta.
The automatic calculator enables individuals to establish fees for the registration of a vessel under the Maltese flag – allowing for certainty in cost planning when deciding to register a vessel.
Malta has committed itself to the welfare of seafarers of any nationality who are working on Maltese flagged ships, by becoming a signatory to the Maritime Labour Convention, which came into force internationally on the 20thAugust 2013. As such, there are no restrictions on the nationality of the master, officers or crew, making it easier to recruit for a Maltese ship.
Ships and yachts may be registered on behalf of legally constituted corporate bodies or entities irrespective of nationality – all that is required is the appointment of a Malta authorised representative agent. Acumum can act as the Malta Representative Agent at competitive fee rates.
Transport Malta’s updated maritime regulatory fee calculator can be found here.
Setting Up a Shipping or Yacht Company in Malta
Malta companies can be set up with minimal costs; €245 share capital, €240 registry fee. A competitive tax and VAT European jurisdiction, Malta has a number of very attractive fiscal incentives for the yachting industry – encouraging commercial operation of these high-value assets. For more information: Malta Companies.
Furthermore, the VAT scheme allows for importation of the yacht into the EU at advantageous VAT rates – as little as 5.4%, depending on the size of the yacht. For more information: Yacht VAT Scheme.
Other advantages are: no restrictions on the sale or transfer of shares of a company owning Maltese ships, or on the sale and mortgaging of Maltese ships; neither are there trading restrictions. Preferential treatment is also given to Maltese ships in certain ports. This freedom allows for efficient transactions and for peace of mind, making it an attractive registration option for both those wishing to obtain finance and financiers alike.
Malta Shipping Registry
As a shipping register, Malta has achieved significant and consistent growth since it was established and is now one of the largest registries in the world in terms of tonnage.
Malta has long established itself as a flag of confidence: it is viewed as a serious and efficient maritime administration, adhering to and enforcing all major international conventions. The Flag State Inspectorate ensures adherence to international standards, while the registry provides services around the clock, seven days a week, for urgent matters.
Further, Malta boasts sound multilateral and bilateral relations, earning its reputation as a widely respected flag around the world. The flag is also actively participant in international shipping fora, including the International Maritime Organisation and the Comite’ Maritime International.
For more information, please contact Geraldine Spiteri, Head of Maritime, [email protected] | +356 2778 1700 Ext 102.