As the eighth largest maritime flag in the world and the second largest in Europe, the Maltese flag has earned the confidence of ship owners, ship financiers and ship management companies the world over. At Zammit & Associates - Advocates we are committed to providing quality legal solutions for vessel registration and finance transactions in a business and commercial context, delivering complete peace of mind every time.
Malta’s strategic position in the heart of the Mediterranean has played an instrumental role in shaping its history throughout the centuries. Today, the island continues to offer competitive and attractive incentives to owners and charterers of commercial vessels and pleasure yachts, besides a solid legal framework which provides vessel financers with the desired level of security.
Advantages of the Maltese Flag
Ship-owners registering their vessels under the Malta flag may benefit from the following advantages:
- Efficient procedures for the registration of vessels and mortgages over such vessels.
- Automatic exemption from income tax on income derived from shipping activities of Maltese vessels of 1000 net tons and over.
- Automatic exemption from donation and succession duty on the capital represented for Maltese vessels of 1000 net tons and over.
- Automatic exemption from duty on documents and transfers (stamp duties) payable on the sale or transfer of a Maltese vessel of 1000 net tons and over, and on the allotment or transfer of any share or stock in any company owning such vessels.
- Exemptions from income tax, donation and succession duty, and duty on documents and transfers (stamp duties) may be granted to Maltese vessels under 1000 net tons, after applications are filed and according to Government policy.
- Registration of vessels not strictly considered as ship, such as oilrigs, platforms and barges, is permitted.
- Registration of hulls/ vessels under construction and mortgages over such vessel is permitted.
- No restrictions on the nationality of the master, officers and crew serving on Maltese vessels.
- No restrictions on the nationality of shareholders and directors of Maltese shipping companies.
- Vessel may be registered in the name of any European company, trust, foundation or individual person.
- Uncomplicated and efficient procedure for registration and deletion of Maltese vessels, as well as for the registration and discharge of mortgages.
- Efficient procedures for the sale or transfer of shares or stock in Maltese shipping companies.
- Competitive incorporation costs and registration fees.
- Easy access to decision-makers within the competent authorities, backed by a qualified and efficient team of technical officers available for urgent matters on a 24- hour basis.
- No trading restrictions imposed on Maltese registered vessels.
- A number of double taxation and bilateral maritime agreements with other maritime nations.
Zammit & Associates - Advocates offers the following services:
- Searches of Malta-registered vessels;
- Searches of ship-owning companies;
- Assistance with the registration and deletion of vessels under the Malta flag;
- Assistance with all aspects of vessel financing transactions, including the registration of any statutory mortgage deed/s, preparation of collateral deeds of covenants, legal opinions, and amendments, transfers and discharges of registered mortgages;
- Handling vessels’ operational issues with the Malta Maritime Authority;
- Arrest or vessels.
For further information about how Zammit & Associates – Advocates can help you with your ship registration requirements kindly contact us on shipping@zammit-law.com
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