Malta is an extremely attractive jurisdiction for yacht owners and proudly holds the record of having the highest number of registered superyachts in the world. The success of its yachting industry is largely the result of Malta’s ability to build upon its strong maritime foundation while also catering to the varied needs of yacht owners through strong legal developments and highly efficient mechanisms.
Leading Flag of Choice
The leading EU Flag of choice, Malta’s flag is white listed in the Paris and Tokyo Memoranda of Understanding on Port State Control. As a result of the strength and reputation of the Maltese Flag combined with the global recognition of Malta’s Commercial Yacht Code, we regularly assist clients with the registration of their yachts, and to advise on sale and purchase matters.
Importation and VAT deferral of yachts intended for Commercial Use
Importation of commercial yachts is regulated by a highly efficient, tried and tested system. Malta allows for the deferment of VAT on the importation of commercial yachts under certain circumstances; we regularly guide our clients to determine ideal yacht ownership solutions, tailored to their needs, taking into consideration importation, VAT and tax implications. Our team also assists clients importing their yacht for VAT purposes in Malta, bringing their yacht into free circulation within the EU and guaranteeing their charter season in the Mediterranean.
Temporary Admission
Temporary Admission (TA) is a mechanism which allows any non-EU privately owned registered yacht to operate within EU waters for a maximum of eighteen months a year while being totally exempt from any payment of import VAT. Due to Malta’s strategic geographical location, we are frequently engaged to facilitate the TA of clients’ yachts in all cases where Malta is used as a first port of call.
Our Services
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– Tailormade solutions for yacht owners
– VAT structuring – Assistance with Importation procedures – Assistance with Temporary Admission procedures – Assistance with sale and purchase – Assistance with employment matters – Pleasure Yacht Registration – Commercial Yacht Registration – Registered agent services – Ship Finance, including registration of mortgages GTG’s services are also complimented by GTG Corporate, our dedicated CSP which is duly authorised by the Malta Financial Services Authority to act as a Company Service Provider and offers specialised guidance in corporate, regulatory & compliance matters including the incorporation of companies and set ups in Malta. |