Malta Yacht Ownership Structures

FLAG: Largest Registry in Europe VESSEL REGISTRATION: 48 hours REGISTRY GROSS TONNAGE: Over 57 Million ACCESSIBILITY AND EMERGENCY: 24/7 Registry Services COMPLIANT: In line with EU laws and internation conventions FAST & SIMPLE: Straightforward Procedure

• Types: All Types of Yachts are Registrable
• Allows Worldwide Few Requirements Navigation
• Low Registration Costs
• Few Requirements24/7 Registry Service
• Crew: No Nationality Restrictions

Registration of pleasure yachts in Malta is regulated by the Merchant Shipping Act 1973 and subsidiary legislation enacted thereunder, which incorporates 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. 
There are two main registries in Malta: 
• the Small Ship Registry and 
• the Merchant Shipping Directorate. 
Any vessel which is less than 24 metres in length employed solely in the navigation within the territorial waters of Malta is to be registered under the Small Ship Registry, whilst vessels registered within the Merchant Shipping Directorate are free to roam within international waters. 
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 the bankruptcy or insolvency proceedings.

• Pleasure (non-commercial) Use
• Eligible Owner: Maltese or International Owner
• Proof of Ownership: Bill of Sale
• Seaworthiness: Survey Report
• Tonnage Tax Certificate: for +24m Yachts