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.
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.