Advantages of the Malta Flag for Yachts
Yacht-owners registering their vessels under the Malta flag may benefit from the following advantages:
- Low company formation and registration costs
- Complete tax exemptions, and benefits for owners, charters and financiers of Maltese yachts.
- No restrictions on the nationality of the master, officers and crew, serving on Maltese vessels.
- No restrictions on the nationality of shareholders and directors of Maltese shipping companies.
- No restrictions on the sale and mortgaging of Maltese yachts.
- No trading restrictions.
- Preferential treatment for Maltese yachts in certain ports.
- Serious and efficient maritime administration.
- Flag state inspectorate to ensure adherence to international standards
- Easy access to decision-makers within the competent authorities, backed by a qualified and efficient team of technical officers available for urgent matters on a 24- hour basis.
- Sound multilateral and bilateral relations
- Active participation in international shipping fora.
Furthermore with effect from January 2006 the Malta VAT Department has introduced reduced rates of VAT in relation to finance leasing transactions, which could effectively reduce the Malta VAT on such transactions to as little as 5.4%.