Under the Malta Flag a yacht may be registered as a Private/Pleasure yacht or a Commercial yacht.
Any pleasure yacht, of 6 metres in length or more, which does not carry passengers for reward and is not engaged in trade but is used for the sole purpose of the owner can be registered as a Private/Pleasure yacht in Malta.
In accordance with the requirements of the Commercial Yacht Code drawn up by the Merchant Shipping Directorate within Transport Malta, a Commercial Yacht is defined as a yacht engaged in lawful trade in commercial operation for sport or pleasure purposes, with a minimum overall length of 15 m, not carrying more than 12 passengers and certified under the provisions of the said code.
The Code covers three categories of yachts:
- Yachts with a minimum and maximum overall length of 15 m and 24 m respectively.
- Yachts with a minimum length of 24 m and less than 500 gross tonnes.
- Yachts with 500 gross tonnes and over but less than 3000 gross tonnes.
Yacht registration whether private or commercial is a very simple and straight forward process subject that all documentation is in order. Yachts are first registered provisionally under the Malta Flag for six months (extendible for a further period, or periods not exceeding in the aggregate six months) during which period all documentation needs to be finalised.
Our Yachting Department is able to guide and assist owners throughout the yacht registration process.
Advantages of Yacht registration under Malta Flag
The registration of vessels under the Malta Flag may be advantageous to yacht owners which would be able to benefit from:
- Low company formation, yacht registration and tonnage tax costs;
- Tax incentives to both yachts and superyachts owners promising commercial operation;
- No restrictions on the sale and mortgaging of Maltese yachts;
- No restrictions on trading;
- No nationality restriction for crew;
- Benefits for Maltese registered yachts across multiple ports in Europe;
- Sound multilateral and bilateral relations;
- Dedicated maritime authority for shipping & yachting matters;
- Multilateral relations with numerous jurisdictions for smooth operations on a global scale;
- Recognised by international maritime agencies and benefitting from forum participation globally.