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Registration of Yachts in Malta
Why should the owner choose Malta?
- A strong legal system based on the British model;
- A historically respectable maritime authority;
- Natural harbours historically used even by the UK navy and today picturesque Marina’s hosting famous super yachts;
- Advantageous tax schemes;
- Qualified and professional workforce servicing the industry; and
- Good value for money, operating costs of jurisdiction recognised as one of the lowest of EU 27 average.
Advantageous solutions provided by Maltese legislation for Pleasure Yachts include both the Registration Process as well as the Payment on Vat on acquisition of the Yacht.
Advantages in Registration
- EU state/flag with political, fiscal and social stability;
- Yacht may be registered in the name of an individual or a corporate entity;
- No restrictions on the nationality of shareholders / directors of corporate entity owning the yacht;
- Registration may take place outside normal office hours;
- No restrictions on crew nationality;
- No trade restrictions; and
- Straight forward registration process.
Payment of VAT
To complement this industry, Malta has an attractive VAT system whereby the VAT payable on yacht acquisitions is reduced progressively with the size of the yacht to as low as 5.4 %. This is the lowest rate within the EU.
Valletta Commercial Services Ltd ( “VCS” )
VCS in collaboration with Blue Ensign is your one stop shop for all local Maritime needs. Being part of the PALM Group one of the leading Maritime groups on the Island gives us an edge on any local provider in that besides all registration and corporate requirements we can service our clients for yacht agency services, bunkering etc.
Besides yachting companies, VCS provides all type of corporate services to set up and maintain a local company which take advantageous of the beneficial tax regime with an effective tax rate between 0% to 6.25%.
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