Why Malta for Ship Registration

Unquestionably, Malta boasts a strategic geographic location at the centre of the Mediterranean and, as a result, the maritime industry has considered it to be a port of choice for many centuries. Due to this long-standing involvement in the maritime sector, Malta has become a leader in the provision of a whole suite of maritime services and has been dubbed as a flag of choice, as well as a flag of confidence, for maritime companies seeking a reputable jurisdiction with an efficient tax system, highly specialised service providers and a sound regulatory framework.

All types of vessels may be registered including oil rigs, platforms and barges, amongst others. The registration of mortgages over vessels is also possible.

The registration of a ship under the Maltese flag is a relatively straightforward procedure. Provisional registration can be affected relatively quickly and once this is done the applicant will have 6 months within which to submit the documents required during the provisional registration. The same can be said for the procedure related to deletion of Maltese vessels and registration and discharge of mortgages, in that they entail a relatively simple process.

The same applies to the process for setting up a Maltese registered company and one can have a Maltese company up and running within as little as 3 working days following receipt of all requisite original documentation.

Another benefit of the Malta flag is the competitive fees with respect not only to ship registration itself but also ancillary matters such as tonnage tax costs and company formation fees.

Malta boasts the imposition of an efficient tonnage tax and a complete exemption on standard income tax rules as these do not apply to profits arising from shipping activities and ship management companies. The fact that this has been endorsed by the European Commission provides further legal certainty to operators within this industry and consolidates the attractiveness of establishing a shipping organisation in Malta and registering your ship in our Ship Registry.

Other exemptions and benefits apply to the shipping industry in terms of Maltese law. For further information please visit ‘Tax Planning & Compliance’.

Having acceded to EU membership in 2004, the Malta flag also means that one is flying an EU flag which brings with it many advantages on a global scale.

Transport Malta, which is the authority for transport in Malta, provides emergency services around the clock 24 hours a day, 7 days a week.

Being an international maritime hub, Malta offers a whole range of support to the shipping industry from specialised legal and regulatory support assisting in company formations, ship registrations and in tax planning to highly experienced shipping agencies assisting ships with matters relating to bunker and brokerage, handling of crew and ship management. The Ports in Malta offer pilotage, towage, mooring and bunkering services as well as conveyances, crew change, surveying and victualling. Evidently, the Maltese islands are well equipped to assist with the registration of your ship under the Malta flag to supporting the management and operations of your business following registration.