A Commercial Yacht, which is defined as a yacht engaged in lawful trade, having a minimum length overall (LOA) of 15 metres, which is in commercial use for sport or pleasure, which does not carry cargo and which does not carry more than 12 passengers may be registered commercially under the Malta Flag.
The Commercial Yacht Code 2020 (CYC 2020) governs commercial vessels registered in Malta. Owners wishing to register their boat for commercial use are advised to have the vessel inspected to determine whether it complies with the CYC 2020 requirements before beginning the registration process. The benefit of conducting the survey in advance is that it gives sufficient time for the yacht to get any necessary modifications or alternations done in time for the registration as commercial. The survey is not required to be carried out in Malta but may be conducted anywhere at the Owner’s discretion by one of Malta’s appointed surveyors or by a Recognized Organization (RO).
In order to ensure that the boat being built will meet the Malta Flag State final specification standards, yachts intended for commercial registration in Malta that are in the early stages of construction or at the design stage should consult a Malta authorised surveyor/RO. This is suggested to avoid incurring any unnecessary additional costs at a later stage.
Yachts must first acquire a Certificate of Compliance before being registered for commercial use. A RO or one of the authorized Malta ship surveyors may conduct compliance surveys. A Certificate of Survey verifying conformity with CYC 2020 will be issued by the designated surveyor or RO upon the completion of all surveys and the positive conclusion of initial surveys. The Malta Administration will issue a Certificate of Compliance (COC) to Trade as a Commercial Yacht once being satisfied that compliance has been met, which is then followed by the Commercial Yacht Registration Certificate.
The validity of the Certificate of Compliance is set at five years, subject to periodic surveys that are conducted based on the length of the boat. Yachts longer than or equal to 24 meters must undertake annual surveys, while all yachts below 24 meters must undergo an intermediate survey (which is completed between 2-3 years of receiving the COC).
For any questions you may have regarding Commercial Registration requirements, contact AML at maltaflag@amlmalta.com. We are here to provide you with the solutions you require.
