Smart Marine Services Malta
Smart Marine Services Malta
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THE MALTESE ISLANDS

Malta represents one of the jurisdictions of choice for ship registration and other maritime services. In terms of the Merchant Shipping Act, All types of vessels are eligible for registration under the Maltese Flag, provided they are wholly owned by a Malta body corporate established specifically for the purpose of the registration.

Ship-owners registering their vessels under the Malta flag may benefit from the following advantages:

1. Efficient procedures for the registration of vessels and mortgages over such vessels;
2. Automatic exemption from income tax on income derived from shipping activities of Maltese vessels of 1000 net tons and over.
3. Automatic exemption from donation and succession duty on the capital represented for Maltese vessels of 1000 net tons and over.
4. Automatic exemption from duty on documents and transfers (stamp duties) payable on the sale or transfer of a Maltese vessel of 1000 net tons and over, and on the allotment or transfer of any share or stock in any company owning such vessels.
5. Exemptions from income tax, donation and succession duty, and duty on documents and transfers (stamp duties) may be granted to Maltese vessels under 1000 net tons, after applications are filed and according to Government policy.
6. Registration of vessels not strictly considered as ship, such as oilrigs, platforms and barges, is permitted.
7. Registration of hulls/ vessels under construction and mortgages over such vessel is permitted.
8. No restrictions on the nationality of the master, officers and crew serving on Maltese vessels.
9. No restrictions on the nationality of shareholders and directors of Maltese shipping companies.
10. Vessel may be registered in the name of any European company, trust, foundation or individual person.
11. Uncomplicated and efficient procedure for registration and deletion of Maltese vessels, as well as for the registration and discharge of mortgages.
12. Efficient procedures for the sale or transfer of shares or stock in Maltese shipping companies.
13. Competitive incorporation costs and registration fees.
14. 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.
15. No trading restrictions imposed on Maltese registered vessels.
16. A number of bilateral maritime agreements with other maritime nations

 
The use of a company or other form of corporate vehicle to hold a superyacht is today the accepted modus operandi in the yachting industry since such a valuable asset calls for a structured and efficient management. The reasons for setting up a company, or other corporate structure, to hold a superyacht include the ability to segregate the asset from other personal assets of the owner, the possibility of asset management and an increased ability to provide tax efficient solutions.
 
It is possible to use a variety of corporate vehicles recognised by Maltese law to hold and register a superyacht, including the settlement of asset/s on trusts, incorporating a Maltese shipping company. The most efficient way to hold a yacht or a vessel is via a company. According to the owners particular circumstances and needs, we may advice as to where such company should in our opinion be registered.
 
An owner may register any vessel including yachts under the Malta flag in the name or either a Maltese company or in the name of an international owner (which is a non-Maltese company) so long as such international owner appoints a resident agent with a local address in Malta.