Malta Ship Registration
Malta offers efficient administrative services, 100% foreign ownership, and a robust legal framework, enhancing operational efficiency and reliability.
Registering a ship under the Malta flag provides numerous advantages, making it a preferred choice for maritime operations. Key benefits include (a) Malta’s status on the White List of the Paris and Tokyo MoUs, reflecting high safety and compliance standards, (b) a strategic location at the crossroads of major shipping routes, (c) a favorable tonnage tax system, where tax is based on the ship's net tonnage rather than profits, and (d) no tax on profits from the operation of a Malta-registered vessel.
Facts & Info about: Malta Ship Registration
- Ownership: Ships must be owned by Maltese individuals or companies. Foreign entities can also own ships through a Maltese company.
- Company Formation: The owning company must be registered in Malta, typically as a limited liability company.
- Directorate: A Maltese resident must be appointed as a director to comply with local laws.
- Resident Agent: A resident agent must be appointed if the owner is not a Maltese citizen or company.
- Office Address: The company must have a registered office in Malta.
- Annual Maintenance: Annual tonnage tax and maintenance fees must be paid.
- Inspections: Regular safety and compliance inspections are mandatory.
- Financial Statements: Submission of annual financial statements and other regulatory documents.
- Tonnage Tax System: Tax is based on the ship's net tonnage rather than its profits.
- Income Exemptions: No tax on profits from the operation or management of a Malta-registered vessel.
- Capital Gains: No capital gains tax on the sale or transfer of a Malta-registered vessel or the shares of a shipping company.
- Registration Process: Typically takes 2-3 days for provisional registration and several weeks for permanent registration.
- Malta Maritime Law: Governs the registration, sales, and mortgages of ships.
- Tonnage Tax Law: Regulates the taxation system based on tonnage.