Registration of Yachts under the Malta Flag is
a simple and straight forward operation which
may be conveniently divided into two stages:
Under Maltese law a company must have at least
one shareholder and at least one director. One
or any of the shareholders could also be directors
of the company.
The yacht owner has a choice of two types of
companies depending on whether he wishes to disclose
his identity or not and these are as follows:
Onshore Holding Company (the owner appears as
share holder)
Onshore Holding Nominee (the owner appoints nominees
as apparent shareholders)
At no stage in the operation do transfer taxes
apply.
The cost of registration depends on the type
of company that the owner wishes to incorporate
i.e. an onshore company (owner appears as share
holder) or an onshore nominee (owner appoints
licensed nominees as apparent share holders)
The initial registration costs are incurred only
once for setting up and first year's operation.
During the ongoing process the annual costs only
apply.
| MALTA
FLAG REGISTRATION: |
|
|
Incorporation of a Maltese
Shipping Company |
|
Annual Maintenance of the shipping company |
|
Incorporation of a Maltese Trading Company |
|
Annual Maintenance of the trading company |
|
Formation of Trust |
|
Annual Maintenance of Trust |
|
Application for Vat Registration and
Provision of VAT Certificate |
|
Initial Registration under the Malta
Flag (Yacht below 24m) PLEASURE Less than
24m with GT less than 50 |
Initial € 445.00
Renewal € 265.00
|
Initial Registration under the Malta
Flag (Yacht below 24m) PLEASURE Less than
24m with 50 GT or more |
Initial € 525.00
Renewal € 300.00
|
Wireless Telegraphy Radio License (VHF
and other equipment and renewal charge |
|
Initial Registration Under the Malta
Flag (Yachts 24m and over depending on length
and tonnage) Pleasure |
Initial-Starting from €
900.00
Renewal starting from € 660.00
|
Commercial Registration complying with
the Maltese Code (depending on length and
tonnage) Less than 24m |
Initial € 525.00
Renewal starting from € 385.00
|
Commercial Registration complying with
the Maltese Code (depending on length and
tonnage) 24m and over with NT between 0
and 2500 |
Initial € 2660.00
Renewal € 3300.00
|
Local Surveyor for Inspection and Completion
of Documentation to comply with the Malta
Code + travelling expenses and out of pocket
expenses |
|
Surveyor’s attendance on board
to prepare the Tonnage Measurement Survey
if yacht is locally based (Yachts below
24m) |
|
Surveyor’s issue of Tonnage Measurement
Survey for yachts below 24m and above on
line plans and drawings supplied by owner |
|
Accounting and Management of the crew
by a qualified firm of auditors |
|
S&D Yachts Ltd acting as shareholder
in Maltese company |
|
S&D Yachts Ltd acting as director
in the Maltese company |
|
Assignment of Maltese identity (call
sign/MMSI) |
|
Transfer of ownership |
|
Appointment of Resident Agent |
€ 350.00
Renewal € 233.00
|
Extension of provisional registration
(3 months) |
|
Transcript of registry |
|
Deletion Certificate from the Malta Flag |
|
Banking for clients |
|
Safe Manning Certificate |
|
Radio License |
|
Registration of a mortgage |
|
|
|
| LEASING
SCHEME: |
For yachts over
24m based on VAT as specified in guidelines:
|
|
|
Incorporation
of Leasing Company
Annual Maintenance of Leasing Company
Application for VAT Registration
Provision of VAT Registration
Quarterly VAT returns and payments to VAT
Department
Annual Registration Costs of Leasing Company
Annual Income Tax Return (no income tax
payable annually)
Preparation and Submission of Annual Returns
Initial Registration of Yacht under the
Malta Flag
Annual Renewal of Maltese Registration of
Yacht
Preparation of Lease Agreement
Sale and Transfer of Yacht at termination
of Lease for Yachts over USD 5,000,000.00
|
Including
our costs and administration charges 1.5%
over VAT rate as specified in guidelines
|
For Yachts below
USD 5,000,000.00
|
|
| |
|
| Onward
Supply Relief (420000 Procedure): |
|
|
For our services in preparation of documentation
for local customs purposes, costs to customs
for customs officers’ attendance and
inspection on board yacht, customs forms
processing and clearance on requirements
as specified in guidelines attached
Customs Bond: EUR 23,500.00
|
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