Malta Commercial Yacht Registrations

Malta Commercial Yacht Registrations

Malta Commercial Yacht Registrations


The island nation of Malta has, since time immemorial, been wedded to the maritime sector. The geographic position of Malta in the centre of the Mediterranean Sea, at the borderline between North Africa and Europe and halfway between the straits of Gibraltar and Suez has aided in making the country a natural interconnector and a hub for maritime activities. Yet, Malta offers more than a strategic location!


Particularly, Malta is considered a world leader in the registration of pleasure yachts and super-yachts mainly due to logistical as well as legal advantages. The registry has maintained its positive reputation for its straightforward procedures for yacht registration, provisional registration of a pleasure yacht obtainable within one to three days. Whilst enjoying competitive registration and renewal fees, a twenty-four hour, seven days a week service is guaranteed, utterly useful in emergency situations.


Having English as an official language, and being part of the European Union, renders the Maltese registration both efficient and effective. Malta is signatory to all major conventions issued by IMO, ILO and UN amongst others, and actively applies/ implements EU and international regulations and directives






Country Highlights

FLAG: Largest Registry in Europe CREW: No National Restrictions
REGISTRY GROSS TONNAGE: Over 57 Million                ACCESSIBILITY AND EMERGENCY: 24/7 Registry Services
COMPLIANT: In line with EU laws and internation conventions  SUPER YACHTS: +24m superyachts -  more than 500 registered


Legal Basis

Registration of commercial yachts in Malta is mainly regulated by the Merchant Shipping Act 1973 and subsidiary legislation enacted thereunder, which incorporate the majority of laws which regulate this sector. Based on Common Law, the Act has been amended several times to reflect changes in maritime trends, conventions and regulations. 


Commercial yachts have also to follow the Malta Commercial Yacht Code 2015 requirements. Due consideration must also be given to international maritime conventions and regulations. 


On the regulatory side, Malta has a body of maritime laws that provide a solid, reputable and financier friendly environment, including: 
• the flexibility of catering for the needs of all types of vessels, from pleasure yachts to oil rigs, including vessels still under construction; 
• the absence of restrictions on the nationality of the master, officers and crew engaged on Malta flagged vessels; and
• a secure mortgage system, which has been greatly accepted by banks and financial institutions, therefore, facilitating the attainment of finance for yacht purchases.

 Maltese law provides for executive/administrative powers that mortgagees may resort to over the mortgaged vessel and the possibility to sell the vessel privately (not through sale by auction) in cases of default.  Additionally, special protection is afforded to mortgagees and privileged creditors in the context of bankruptcy or insolvency of the owner of the vessel in that vessels are granted a special status being separate and distinct assets within the estate of their owner.

This status allows any arrest or enforcement against the vessel by mortgagees or privileged creditors of maritime claims to proceed irrespective of  bankruptcy or insolvency proceedings.

Commercial yacht registrations are undertaken and  administered by the Merchant Shipping Directorate within Transport Malta.
 


Benefits

  • Types: All Types of Yachts are Registered
  • Allows Worldwide Navigation
  • Easy Commercial to Pleasure Switch
  • 24/7 Registry Service

 


Eligibility

  • Length and GT: +15m and Max 3000 GT 
  • Eligible Owner: Maltese or International Owner
  • Proof of Ownership: Bill of Sale
  • Seaworthiness & Code Compliance: Survey Report
  • Historical and Racing Yachts: Exempt for Particular Requirements on a Case by Case Basis


Process & Timeline




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Key Contacts

Dr Silvana Zammit

Partner, Global Property, Yachts & Aircraft

+356 22056423

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