Top Reasons to Register your Yacht in Malta

All yacht lovers will dream about cruising the Mediterranean Sea and visiting beautiful little villages along the coast, but any seasoned owner will tell you that there is more to owning a yacht. You have to register the vessel in a jurisdiction of your choice and it is up to you to choose one that’s highly accessible and fiscally competitive. Malta is one such destination because it is a small member state in the middle of the Mediterranean Sea. It is Europe’s largest ship and yacht registrar and the world’s 6th largest registry. Here are top reasons for you to register your yacht in Malta:

Reducing VAT Liability  

One of the biggest headaches for European yacht owners are the VAT requirements. All vessels that sail in the European Union are subject to VAT, but registering your yacht in Malta can help in reducing your VAT liability. Whether it is Malta superyacht tax or any other vessel, you can bring your liability down by 5.4%. Since it offers the possibility of tax planning, it is easier for yacht owners to register superyachts and pleasure yachts. 

Reputability of its Register and Flag  

While other jurisdictions may come off as cheaper, it is essential to register your yacht under a reputable flag if you want to sail over EU waters without any worries. The Maltese flag is one of the most popular ones in superyachts registered in the European Union as the country has entered several treaties aimed at supervising and regulating the industry.

Straightforward and Quick Procedure 

While Malta has some rigorous standards that have allowed it to develop such a solid reputation, this doesn’t hinder the registration process. The procedure is quite straightforward for registering your vehicle and it is also quite quick, which makes it very easy for people to get their vessels registered.