The Advantages of the Malta Flag Defined in the United Nations Convention on the Law of the Sea, the flag state is the state which may exercise jurisdiction and control in administrative, technical and social matters over ships flying its flag. In so-doing, each State party to the Convention must maintain a register of ships with the […]
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VAT on Yachts in Malta The VAT on Yacht Leasing Regulations of January 2006, the VAT on Yachts rules in Malta, have made it possible to reduce the effective VAT payable on the purchase of Yachts to as low as 5.4% VAT and this by virtue of a Financial Leasing agreement made between a Malta Shipping Company acting
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VAT Planning for EU Yachts On the 24/11/2005, the Maltese VAT Department published its guidelines on the VAT treatment of yacht leasing. These regulations have clarified the taxation of yachts which are lease-purchased to third parties by a Maltese Company. VAT Planning: Financial Leasing Solution A financial leasing agreement (lease-purchase) of a pleasure craft is an
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Ship Registration in Malta: Bareboat Charter Registration The requirements for bareboat charter registration in Malta are: 1. The ship must be bareboat chartered to Maltese citizens or Maltese bodies corporate; 2. The ship is not a Maltese ship, and is registered in a compatible registry; 3. The ship is not registered in another bareboat
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Ship Management: Manning Manning Maltese ships are subject to the provisions of the Merchant Shipping Act (1973) and ancillary regulations concerning the competency of officers and seamen. International Conventions Malta is a member of: the International Maritime Organisation (IMO) The International Labour Organisation (ILO). Malta has ratified all the major maritime conventions including: SOLAS
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Ship registration in Malta SHIP REGISTRATION UNDER THE MALTA FLAG Eligibility for Registration All types of vessels, from pleasure yachts to oil rigs may be registered, provided that, inter alia, they are wholly owned by Maltese citizens or Maltese Bodies Corporate. The formation of a Maltese company is a straight forward operation; there
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