Yachting in Malta
Malta is currently the holder of the largest maritime flag in Europe and the sixth largest in the world. Its sound yet constantly evolving legislative and regulatory framework in this sector, coupled with EU Membership, the strategic location in the Mediterranean Sea and other factors have all contributed to this success. The various benefits of Malta’s fiscal regime and the different forms of corporate structures that may be adopted under Malta’s Companies Act and Civil Code continue to enhance Malta’s attractiveness in this sector.
Malta’s maritime flag is considered to be a reputable and reliable flag of choice on an international scale. Nowadays, all types of sea vessels ranging from pleasure boats, to large cruise liners and supertankers, can be registered under the Maltese flag.
Yacht registration is one of the main sectors of Malta’s maritime industry. This has led to Malta’s Value Added Tax Department issuing guidelines to provide more clarity regarding the treatment of leases and short-term chartering of yachts in relation to Value Added Tax (“VAT”).