The Malta Flag is the flag of choice for Superyachts because of the quality of the flag and the peace of mind it gives to Owners and Operators. Malta Flag registration has grown exponentially in superyacht registration, where it has experienced a growth of 65% over the last 5 years. The Malta Register has presently over 1000 registered yachts which fall in the category of 24 metres length overall or more.
Due to the sailing pattern of yachts, where a high number of luxury yachts choose France and Croatia as their destination, it is by no surprise that Owners seek a flag from a European jurisdiction, as the flag of choice for their yacht registration. The Malta Flag being a European flag which has an excellent reputation with its ship register would therefore be the natural choice for Owners.
The Malta Flag offers various advantages to Owners. Malta is one of the few EU jurisdictions where yachts may benefit from the tonnage tax regime. The tonnage tax which is part of the registration fees paid upon registration of a yacht, also extend to the profits generated by the Maltese Shipping company. The Malta Shipping Company which would have assumed the risks and rewards of the operation of the yacht, as would be in the case of a Malta company taking ownership of a yacht and engaged in chartering activities, would therefore not be charged to further tax on profits generated from chartering.
Malta has seen an increase of yachting companies establishing businesses in Malta. This is because Malta has the right human resources for such an operation. Malta also offers other advantages such as fantastic weather and being the ideal location for berthing in winter. During such period Owners benefit from a long list of ancillary services which are offered through Maltese service providers such as refits of the boats, dry docking, supplies and provisions and training of their crew through well renowned training schools established in Malta.
AML’s expertise in flag registration gives Owners a value added and personalized service through the know-how of our registration department which comes with almost 30 years’ experience in the industry. Our answer to an excellent service is based on our belief of being an extension to your business. Your challenge becomes our challenge as we secure the right solutions for all your maritime needs.
Contact us on maltaflag@amlmalta.com for further information or assistance.
