Registration
of Ships and Yachts in Malta
BREAKING
NEWS
MALTA HAS REDUCED ITS RATE OF VAT ON
THE PURCHASE OF MALTESE
REGISTERED YACHTS TO 5.4%. FOR MORE INFORMATION CLICK HERE.
This page is dedicated to the
registration of ships, yachts and other marine vessels under the Maltese
Flag. Each step can be taken care of by this firm and registration
is usually a speedy procedure. What we would need from you is a
power of attorney authorizing us to incorporate a shipping company and
register your ship or yacht.
Why
should you register your yacht or ship in Malta?
Registration of ships and yachts under the Maltese flag offers many
advantages:
-
low company formation and ship registration costs
-
no restrictions on the nationality of the ship owner
-
complete tax exemption
for private yachts and ships over 1000 Gross Tons
-
effective
tax rate of 4.17% and VAT exemption for chartering of commercial
yachts
-
no restrictions on the nationality of the master,
officers and crew
-
no restrictions or taxation on the sale or transfer of
shares of a company owning Maltese registered ships
-
no restrictions or taxation on the sale and mortgaging
of Maltese registered ships
-
no trading restrictions and preferential treatment to
Maltese ships in certain ports
Any vessel can be registered under the Maltese flag provided it is
owned by a Maltese registered company or by a person habitually resident
in Malta.
The formation of a Maltese
company is a straightforward operation and can be taken care of by this
firm, usually within a few hours. There are no nationality requirements as
to both the shareholders and directors and usually the real ship or yacht
owner will be the shareholder and director of the company. The
company will have its registered office at our own address, unless you
have another preference and we will be the company's authorized
representative in Malta so that we will take care of all the company's
administration in Malta.
A vessel is first registered provisionally under the Malta flag for six
months during which period all documentation must be provided and the
vessel will then be registered permanently.
Private Yacht registration
To register your yacht provisionally under the Maltese flag we will
need from you
- a power of attorney from the owner authorizing us to register the
company and the vessel; this is a form
we can provide the form by
e-mail or fax as you prefer;
- details of your yacht on a form we can provide the form by
e-mail or fax as you prefer;
The provisional registration is valid for six months. In order to
register your yacht permanently under the Maltese flag, you must provide
the following documents within six months from provisional registration:
-
yacht
survey certificate from an authorized
surveyor in the port where the yacht lies attesting the yacht's
seaworthiness; should your surveyor have difficulty in obtaining the
official Malta Maritime Authority form
then a survey
certificate form can be provided
-
only if your yacht is more than 24 metres in length, we will need an
International Tonnage Certificate
-
a bill of sale showing that your Maltese company has bought the
yacht; or a builder's certificate in the name
of the Maltese company
if the yacht is new or has never been registered anywhere previously
-
a radio installation form and a radio licence application which we will provide to you
after provisional
registration which must be filled in by an
authorized surveyor in the port where the yacht lies.
-
a Carving and Marking note from an authorized surveyor in the port
where the yacht lies; this is a form which
we will provide after
provisional registration
-
if the yacht has been registered previously outside of Malta, a
certificate showing cancellation of registry from that last country of
registry (deletion certificate)
No other documentation will be
required.
Commercial
Yacht registration
To register your yacht provisionally under the Maltese flag we will
need from you
- a power of attorney from the owner authorizing us to register the
company and the vessel; this is a form can provide by
e-mail or fax as you prefer;
- details of your yacht on a form we can provide
by
e-mail or fax as you prefer;
-
an MCA
Certificate of Survey issued by a classification society
-
if your yacht is more than 24 metres in length, we will need an
International Tonnage Certificate and a Load Line Certificate also
issued by a classification society
The provisional registration is valid for six months. In order to
register your yacht permanently under the Maltese flag, you must provide
the following documents within six months from provisional registration:
-
yacht
survey certificate from an authorized
surveyor in the port where the yacht lies attesting the yacht's
seaworthiness; should your surveyor have difficulty in obtaining the
official Malta Maritime Authority form then a survey
certificate form can be provided
a bill of sale showing that your Maltese company has bought the
yacht; or a builder's certificate in the name
of the Maltese company
if the yacht is new or has never been registered anywhere previously
a radio installation form and a radio licence application which we will provide to you
after provisional
registration which must be filled in by an
authorized surveyor in the port where the yacht lies.
a Carving and Marking note from an authorized surveyor in the port
where the yacht lies; this is a form which we will provide after
provisional registration
if the yacht has been registered previously outside of Malta, a
certificate showing cancellation of registry from that last country of
registry (deletion certificate).
No other documentation will be
required. It is worth pointing out that the operation of commerically registered yachts for chartering purposes
using a Maltese company is very tax advantageous. Profits from chartering are taxed at 4.17%, there is no VAT on chartering contracts
and VAT paid on purchases by the Maltese company can be reclaimed.
Ship
registration
Since March 2000, no trading ships over 25 years will be registered.
Trading ships between 20 and 25 years old must pass an inspection
before provisional registration; Trading ships between 15 and 20 years old
must pass an inspection by an authorized flag state inspector within one
month of provisional registration.
To register your ship
provisionally under the Maltese flag we will need from you
- a power of attorney
from the owner authorizing us to register the company and the vessel
which we
can provide the form by e-mail or fax as you prefer;
- details of your
ship which you can provide on the details form which we can provide
the form by e-mail
or fax as you prefer;
- a bill of sale
showing that your Maltese company has bought the ship or a builder's
certificate in the
name of your Maltese company if the ship is new or has never been
registered anywhere previously
- a confirmation of
seaworthiness from the vessel's classification society confirming (a)
vessel type and
classification; (b) valid dates of statutory certificates; (c)
exemptions or recommendations;
(d) encumberances
- a copy of the
latest International Tonnage Certificate
- a Document of
Compliance and Safety Management Certificate showing the new ship
manager's detail;
if the safety management certificate is not available, the
classification society must state that the
certificate will be issued on registration.
Once provisional
registration is complete, Malta Maritime Authority will issue a
Certificate of Provisional Registration, a Minimum Safe Manning
Certificate and, in the case of tankers, a CLC (Blue Card) Certificate.
To register your ship
permanently under the Maltese flag, you must provide the following
documents within six months from provisional registration:
- a Carving and
Marking note from an authorized surveyor in the port where the yacht
lies; this is a
form which we will provide to you after provisional registration
- a radio
installation form which must be filled in by an authorized
surveyor in the port where the ship
lies and a non-GMDSS radio licence application for vessels under 300
gross tons; for vessels over
300 gross tons a GMDSS radio licence application is needed and if
required, an immarsat application;
we will send you these documents following provisional registration
- a cancellation of
registry certificate from the last country of registry (deletion
certificate)
- a Certificate of
Survey and an International Tonnage Certificate issued on behalf
of the Maltese
authorities
- a certificate of
class
- a crew list
accompanied by photocopies of the officers' competency certificates
and valid
STCW endorsements
Should you wish to
receive more detailed information please do not hesitate to contact
us. However we wish to point out that we do not provide more
detailed advice or information until a retainer agreement has been signed.
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Copyright 2000: Griscti & Chetcuti, Advocates
Residence