Category: Flag Services

CYC 2025

CYC 2025

YACHTING NEWS | MALTA PUBLISHES THE REVISED COMMERCIAL YACHT CODE 2025

Transport Malta has officially released the Commercial Yacht Code 2025 (CYC 2025) — a regulatory update that replaces the 2020 edition and enters into force on 1 July 2025. This revised code introduces new requirements tailored to commercial yachts ≥ 24m in length, enhancing alignment with current safety, environmental and operational standards.

Yachts currently operating under the 2020 Code must transition to the new requirements by their first renewal survey after 31 December 2025.

At S&D Yachts Group, our Yacht Flag Services Department, led by Mufy Sullivan, is already supporting clients with this regulatory shift. Our team will provide yacht owners, managers and surveyors with a detailed, step-by-step guide to ensure full compliance with the new framework.

For tailored assistance and a complete CYC 2025 transition package, contact us at: flag@sdyachts.com

Download the official Transport Malta code here: CYC 2025 – Official Document

CONTACT DETAILS

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Yacht Administration

FLAG SERVICES

YACHT ADMINISTRATION

Owning a yacht is a pleasure, whether for private use or commercial use. Our company can assist in alleviating the day-to-day planning and accounting associated with ownership.

We can assist the Captain, the crew and the yacht owner, by offering a shore based support team to handle all aspects of running the yacht, leaving more time for the crew to handle the physical aspects of the day-to-day operations, and for the owner more time to enjoy his investment.

Well managed yachts, are able to enjoy more days cruising throughout the season due to the support of a land-based team who can look after the yacht’s accounts and administration, including all book-keeping and any flag related issues.

We also ensure that certification; surveys and insurances are kept up to date, along with crew qualifications.

Our banking services include paying the crew, and suppliers with prior approval from the yacht owners. We ensure that the Captain has a reasonable cash float on board, which every yacht Captain needs, to ensure they are prepared and ready for guests at all times. We are also able to arrange for Captains and Senior Crew to be issued with crew credit cards to meet the day-to-day on-board expenses.

Also through our regulated fiduciary subsidiary we are able to hold money on behalf of yacht owners and settle all yachts running expenses and prove full management accounting to the owner.

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Yacht Import & Export

FLAG SERVICES

YACHT IMPORTATION

IMPORTATION OF YACHTS INTENDED FOR COMMERCIAL USE THROUGH MALTA

We are able to assist with the import of commercial yachts for VAT purposes in Malta thereby bringing the yacht into free circulation within the European Union. In these instances, it would be necessary for the yacht to physically call at Malta in order to undergo the relative VAT and customs procedures and to subsequently be imported into the European Union with the release of the relative import documentation.

TEMPORARY IMPORTATION OF YACHTS INTENDED FOR PRIVATE USE

It is possible for owners of superyachts flying a non-EU flag, who are non-EU residents and who wish to use their private yachts temporarily in EU waters, to place their yacht under Temporary Importation via Malta. This procedure requires the yacht in question to call at Malta and be subjected to Temporary Importation with the Maltese customs authorities. The owner would subsequently be able to use his yacht freely in EU waters, and therefore the yacht can move from one Member State to another with no further customs formalities, for the permitted period of 18 months.

EXPORT PROCEDURE

Yachts registered in the Customs Territory of the EU are considered to have been declared for export by the simple fact of crossing the EU customs territory. However, such exemption from entering an export declaration only applies to means of transport in free circulation and registered in the Customs Territory of the EU and therefore it is essential that non-EU flagged yachts complete a Temporary Export Declaration whenever leaving the EU. Contact us for assistance.

ONWARD SUPPLY RELIEF (OSR)

OSR is an exemption from VAT on the importation of goods made into Malta from a country outside the European Union (EU) by a taxable person registered for VAT under article 10, which goods are released into free circulation in Malta and subsequently dispatched or transported to a taxable person into another EU member state as an intra-community supply. This procedure is provided for under item 3 of Part Four of the Fifth Schedule of the VAT Act 1998.

In all four instances, we are able to advise owners on the best possible course of action and offer reliable and sustained assistance from beginning to end in guiding owners through the various motions with a view to ensuring a swift and efficient completion of the relative procedures.

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Yacht Registration

FLAG SERVICES

YACHT REGISTRATION

Malta, from its strategic and central position at the heart of the Mediterranean, offers a wide range of international maritime facilities and services including an active and reputable International Ship Register which currently ranks as the largest merchant flag in Europe.

Malta Flag is today a European Flag, a flag of confidence and a flag of choice. Its good standing is evidenced by the many leading Ship Owning and Ship Management companies who register their vessels under the Malta Flag, and by International Banks and Financiers who often recommend the Maltese Register and Malta Ship Registration under the Malta Flag. Malta has the largest registered tonnage amongst the European flag states. Numerous benefits are offered to ship owners through Malta’s fiscal, corporate and legal system.

Vessels registered under the Malta Flag have no trading restrictions and are given preferential treatment in certain ports. The Maltese flag state requirements are well known to main shipyards and main classification societies. The Malta Flag is on the white list of the Paris MoU, Tokyo MoU and on the Low Risk Ship List of the Paris MoU. Furthermore, Malta has adopted all International Maritime Conventions.

BENEFITS OF REGISTRATION UNDER THE MALTESE FLAG

  • The Maltese Flag ranks the first in Europe.
  • Malta is a member of the European Union.
  • Malta is a party to the major international conventions.
  • Competitive ship registration and company formation.
  • The Maltese legal system is reliable and offers robust protection to financiers.
  • No restrictions are imposed on the nationality of the shareholders and directors of Maltese Companies.
  • No restrictions imposed on the nationality of the master, officers and crew.
  • No restrictions on the sale of ships and mortgaging of Maltese ships.
  • There are no trading restrictions on Maltese ships.
  • English is one of the two official languages of Malta thus permitting that any official documentation is well accepted in English.
  • The registration process is a straightforward and quick procedure.
  • A professional and highly reliable maritime administration. 24/7 service offered in respect of urgent matters.
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