If you are a Maltese or a citizen of Europe or you own a business that is listed in Malta, or in a Member State of the European Union, you have the capabilities of registering your yacht under the Malta Flag.
Currently, Malta is well known as the popular state and jurisdictions when it comes to yacht registration. The yacht registration approach is well-organized and straightforward, and you are offered your certificates on time bearing your name once you hand over the required paperwork. While waiting for your certificate, you are usually, issued with a provisional Yacht Registration Certificate on an outdated basis waiting for all paperwork to be verified in agreement with the Maltese and International acts and rules.
Once you are issued with a yacht registration certificate under the Malta flag, your yacht can benefit from the excellent international repute of the flag, which is supplementarily heightened by Malta’s membership within the European Union.
Malta is a small member state that is located in the middle of the Mediterranean Sea. Its strategic geographical position has aided it hugely in leaving a footmark in the marine history of the Mediterranean. Malta is also the major ship and yacht registrar in Europe and also the leading in the world.
Below are reasons why you should flag your yacht in Malta.
- Get a cheap VAT obligation of up to 5.4%
VAT is one of the things that cause headaches to people who own Yacht in Europe; this also faces those that sail in EU waters. If you own a pressure Yacht that will cruise in the EU waters for 6 months or more every year, or if are a European citizen who owns a Yacht, you are liable to the EU’s VAT.
- You are not restrained in the nationality of persons involved in the ownership
- Maltese flag and registrar is reputable
Although you can get other jurisdictions that can offer low priced registrations, it is vital to register your yacht under a reliable flag especially, if you want to sail in the EU Maritime waters without any headaches.
- Faster and frank registration procedures
Even though Malta has put in place tough standards that have made it be a reliable member state in the maritime world, these standards cannot cause hurdles if you are looking to register your vessel. Malta has an open and faster registration procedures and removal of vessels such as registration and settling of loans which are indispensable when you want to obtain funding.
- You are not restrained in the nationality of the persons manning of the Yacht
- You are also free to sail to worldwide ports.
- Benefits associated with flagging your yacht in Malta
- Malta has a modest registration and renewal charges
- You enjoy a 24/7 service to address crucial matters.
How does the registration procedure work?
The procedure is quick and straightforward where you can obtain ownership of the yacht at a cheap VAT rate. This procedure is also very simple.