Strategically located in the heart of Europe, Northern Africa and the Middle East, Malta has established itself as a leading maritime centre offering an array of services and facilities to the marine and yachting industries. This, combined with Malta’s reputation of an experienced, reliable and efficient maritime jurisdiction, has positioned Malta as the largest ship register in the European Union and the sixth largest in the world. In addition to being party to numerous international conventions and regulations for the uses of the Sea and continental shelf, Malta is in the White-List of the Paris Memorandum of Understanding on Port State Control. Hence, ships flying the Malta Flag are less likely to be detained in ports for breach of international conventions.
Yachting in Malta
The maritime services sector has celebrated circa four decades of unprecedented success, with its fanfare dating back even before the accomplishments of Malta’s financial services, gaming and insurance industries. Malta boasts a long maritime tradition, emanating from the islands’ colourful history, modern facilities and reputation as a highly regulated country. Malta’s shipping register’s success is also supported by numerous, reputable shipping-related service providers, including maritime lawyers, agents, brokers, insurers, accountants and banks offering comprehensive services to owners and operators of ships worldwide. With the recent introduction of new legislation enabling clients to set up ship management entities in Malta, the country has now completed its offering in this area.
The Maltese Yachting Industry
The Yachting Industry in Malta has two key facets, namely pleasure yachts and commercial yachts, the latter used as part of a business activity and to which the fiscal advantages outlined above for Malta shipping organizations also apply.
In the case of pleasure yachts, in addition to the brisk registration process, Malta offers a favourable regime for VAT minimisation, potentially down to 5.4%, through a leasing set-up.
Beyond the advantages that the registration process and the VAT yacht leasing presents, Malta offers yacht marinas that may be found all over the Maltese islands. These include facilities for super yachts, a factor which has made Malta an attractive hub for super yachts. Most marinas cater for requirements of yachtsmen, including fuel bunkering, technical services for repairs and services, luxury on-site facilities and immediate access to other off-site facilities.
Our Malta Yachting Team
Experienced in all facets of the Shipping and Yachting industry, Chetcuti Cauchi assists and represents individual or corporate clients throughout different stages of vessel ownership. This includes:
Chetcuti Cauchi holds strong links with all sectors of shipping and maritime law and the firm has specialised lawyers, accountants and tax consultants in all maritime-related fields of law including ship finance, litigation and admiralty, and is the preferred maritime law firm for banks, other financial institutions and ship-owners seeking the most effective and advantageous financing.