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Over 7,100 vessels registered with the Maltese ship registry

02.11.2015

In September 2015, the number of listed vessels in the Maltese ship register reached 7,109 entries.

Over the last 12 months the responsible authority, Transport Malta, recorded 485 new vessels, with a gross tonnage of over 62 million Tonnes.

Apart from publicising Malta as an attractive operating base, the Maltese Government promotes the Maltese flag as a leading jurisdiction for ship and yacht registration due to its favourable legal framework.

Today, Malta’s ship register ranks as the 6th largest register in the world, and the first one within the European Union (in terms of units registered or tonnage?) This has boosted Malta’s position within shipping circles as booming international shipping centre as well as ship management operations.

Some of the advantages of operating from Malta are the low costs involved as well as highly favourable fiscal regime, offering tax opportunities to owners and operators.

Nexia BT can assist in the registration of charter operators willing to operate from Malta or having charters starting from the Maltese islands. We can also liaise with the VAT department, forwarding the necessary documentation to have the charter approved and general compliance in relation to VAT return preparation and submission.

Besides, through a collaboration with legal consultants, we provide a comprehensive service to yacht owners and managers, including the planning of international tailor made tax efficient structures, as well as legal and tax advice involved from simple ownership of a leisure yacht, to the commercial ownership on a large scale, finance, insurance and issues related to crew and manning.

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