A Commercial Yacht Registry is fully operative in Malta. The Malta Maritime Authority (MMA) has issued a Code of Practice in relation to the construction, equipment and operation of a Commercial Yacht.
Registration of a yacht under the Commercial Yacht Registry carries certain benefits, such as:
- Zero tax levied on any income derived from the use of such Commercial Yacht;
- Total exemption from payment of VAT on the value of the yacht, provided that such yacht is used for commercial purposes (chartering) on the high seas;
- Actual certification of the vessel as a Commercial Yacht is indicative of the fact that the yacht is fit for commercial chartering;
- Possibility of the exempt importation of the Commercial Yacht into the European Union using Malta as a point of entry;
- VAT refunds on purchases made (e.g equipment, fuel, provisions).
Commercial Yachts can be registered in the name of Maltese Shipping Companies or can otherwise be registered in the name of foreign entities recognized in Malta by virtue of a Resident Agency service which we may also provide you with.