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Yachting Malta: its vision

20.09.2016

To promote the Maltese archipelago as a yachting jurisdiction, Yachting Malta will carry out a comparative analysis on marinas and yacht services in the Mediterranean region. 

Set up in 2015, Yachting Malta is a joint venture between the Royal Malta Yacht Club (RMYC) and the government (via Projects Malta). 

When launching the initiative, Wilfrid Buttigieg, Yachting Malta’s CEO, explained that through a comparative analysis, Malta’s yachting strategy will be strengthened. The services provided by marinas and yards, reduced charges for water and electricity, the quality of the environment are some of the elements impacting the competitiveness of the islands and should be enhanced. 

Since its setting up, Yachting Malta has consulted with over 50 stakeholders from private companies to educational institutions and association. This feedback puts the firm in an optimum position to better plan for agendas for sailing events catering for motorboats and superyachts alike, training and education and boat shows. 

Another target that Mr Buttigieg has aligned for 2017 is to substantiate the agency’s ideas with data assessing 120 initiatives that were launched. The list of 120 topics is comprehensive, and includes ideas for the private sector to follow up, policy and legislative projects where the Maltese government would need to act on, and enforcement issues for regulators to tackle. The lists ranges from ideas for unregulated charters to environmental requirements.

Yachting Malta will also be launching a sponsorship scheme to complement its work, seeking corporate sponsors matched to a template of benefits and obligations.

With an action plan till 2020, Yachting Malta wants to achieve various initiatives. The first year of its operation was a time to help established entities and it recently issued a public call inviting anyone with yachting-related projects to come forward if they required financial or administrative support.

At Nexia BT, our team of professionals provides a comprehensive service to yacht owners and managers including: 

  • ship and yacht registration in Malta;
  • short-term chartering of yachts; 
  • planning of international tailor-made tax efficient structures; and
  • legal and tax advice in ownership of a leisure yacht through to commercial ownership on a large scale, finance, insurance and issues related to crew and manning.