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A
vessel is eligible for registration as a Maltese Ship if it is wholly owned
either by citizens of Malta or by a company registered in Malta.
Quick
and effective registration is available through the procedure for provisional
registration which last for 6 months, extendible for a further period of
6 months, during which all documentation must be finalised.
The
advantages available to Maltese registered vessels include the following:
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low company formation
and ship registration costs.
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complete tax exemption
to owners, charterers and financiers of Maltese ships of over 1,000 net
tons. This exemption may also be extended to smaller ships.
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no restrictions on the
nationality of the master, officers and crew provided they are certified
according to Maltese law and they are eligible under the STCW Convention.
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the definition of ships
is wide, incorporating oil rigs and other types of vessels.
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no restrictions on the
sale or transfer of shares of a company owning Maltese Ships.
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no trading restrictions
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Malta is a party to
several international conventions relating to shipping.
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Malta has concluded
several tax treaties
There
is no age limit in respect of ships which may be registered. However,
during 1995 the Maltese Authorities have included a requirement whereby
a ship of 20 years or over would be subject to a flag state inspection
either before registration or within one month of provisional registration.
If the inspection is carried out within one month of provisional registration
the charge will be borne by the Malta Maritime Authority. If it is
carried out before provisional registration the owner will be liable to
a charge of circa USD 2,600. |
Shipping in Malta
