Upon acquiring a yacht, it is of great significance that consideration is given to its flag choice, ownership structure, and of course, registration. Now the biggest flag in Europe for both yachts and ships and with a long-standing reputation for efficiency and reputation is Malta.

As we all know, Malta is referred to as the heart of the Mediterranean, featuring a strong maritime history, which dates back to its old-style fishing and the use of transshipment hub. Over the years, Malta has received stellar reputation as flag choice and confidence as far as maritime activities are concerned. So, what are some of the benefits of yacht registration Malta?Attractive features

Besides being a globally respected and recognized jurisdiction, Malta boasts of vast attributes that make it an excellent choice for ship and yacht registration. In a nutshell, some of the Malta’s traits include the following:

• A strong legal framework offering security to financiers

• A cost-effective jurisdiction featuring low costs for vessel registration

• Attractive incentives to operators and owners of yachts, including tax benefits

• No trading limitations

• No limitations on mortgaging or sale of Maltese registered vessels

Short-term commercial yacht charter

Another benefit of registering maritime vessels in Malta is to take advantage short-term commercial chartering. Typically, commercial vessels when sailing within EU member state in duration no more than 90 days often qualify for reduced VAT tax rates applicable to charter value.

• commercial yacht registration malta

Few limitations imposed

When a yacht is registered to operate in Malta, and its member states, the operator and the owner of the vessel are subjected to reduced restraints. Typically, other than the vessel’s owner is clearly identifiable, there are several yacht ownership limitations in Malta. Upon being a member, there are no ownership limitations/restrictions about the nationality of the vessel’s owner, and any European Union citizen enjoys the right to register a maritime vessel in Malta.

Provisional importation procedure for a non-EU yacht owner

A vessel that is imported into the European Union waters with the sole aim of re-exporting to other states may be brought temporarily to the EU, registered, and used for private purposes. A registered yacht in Malta operating under this terms and conditions do not pay custom duties, or even the VAT is charged on the value of the vessel.

Conclusion

The list of the reasons for registering a yacht in Malta is just endless. However, the most important thing is that the registration system is effective and fast since the registry is available on a 24/7 basis. Therefore, whether your yacht is under being equipped or under construction, you are free to register it in Malta.