Commercial yacht registration in Malta has gained significant popularity, thanks to the island's advantageous regulatory framework and attractive fiscal incentives. Particularly, if you own a commercial yacht, you may be wondering if it is worth it to register your vessel in Malta. The answer is a resounding YES! In fact, more yachts in the EU proudly hoist the Maltese maritime flag than any other flag.
Your company can enjoy great economic incentives and efficient processing on the shores of Malta. Essentially, registering a commercial yacht in Malta has some of the cheapest rates in the EU. Additionally, more benefits of registering your commercial yacht in Malta include a favourable legal environment, tax advantages, and access to first-class facilities.
Primarily, the registration process is relatively straightforward, but there are a few things that you will need to do to get started. Conveniently, we have experts in commercial yacht registration in Malta. Moreover, we have a wealth of experience in the maritime sector.
- Commercial Yacht Registration in Malta
- Who Can Register a Commercial Yacht in Malta?
- Endevio Can Assist You with the Registration
Commercial Yacht Registration in Malta
The use of a commercial yacht falls under Malta’s laws for commercial registration. Fundamentally, a yacht is considered a commercial yacht when it is 15 metres in length or more, does not carry cargo, carries not more than 12 passengers, and is operated by the owner or body corporate owning the yacht for commercial use.
Who Can Register a Commercial Yacht in Malta?
A commercial yacht can be registered by:
- First, an EU citizen residing in Malta
- Second, a Maltese corporate entity
- Lastly, non-EU citizens with businesses in Malta (the yacht would need to be registered in the name of the business registered in Malta)
Endevio Can Assist You with the Registration of your Commercial Yacht in Malta
The registration process usually depends on the age of the yacht and whether it is in line with the Commercial Yacht Code of Malta. Fortunately, we can help you navigate the registration process. The professionals at Endevio ‘know the ropes’, so we can ensure your commercial yacht is registered as swiftly and effortlessly as possible. Similarly, like pleasure yachts, commercial yachts must first acquire provisional registration under the Malta Flag for six months. Notably, this is extendible for a further period, or periods not exceeding in the aggregate six months. Essentially, all documentary requirements need to be finalised within the period.
In conclusion, if you are considering registering your commercial yacht in Malta, there are many good reasons to do so. Mainly, Malta offers several advantages to vessel owners. Basically, by taking the time to register your vessel in Malta, you can enjoy peace of mind knowing that it is legally protected.
