Advantages of the Malta Flag
The Malta Flag is today a flag of confidence, a flag of choice, its good standing evidenced both by the number of ship owning and ship management companies of repute which register their ships in Malta, and also by the confidence shown by the leading international banks and financiers who at times recommend the Maltese register.
The Malta maritime flag is the flag of a well-established, yet dynamic, maritime centre. The Malta international ship register completes the wide range of services, which is Maritime Malta and at the same time draws its strength from being an integral part of a truly international maritime and service centre.
Vessel registration under the Malta flag and the operation of Maltese ships is regulated by the Merchant Shipping Act .The main legislation is supplemented by a comprehensive set of rules and regulations. The following are some of the main advantages of registering a vessel under the Malta flag:
- low company formation, ship registration and tonnage tax costs; progressive reduction in registration and tonnage tax costs for younger ships;
- complete tax exemption to owners, charterers and financiers of Maltese ships over 1,000 net tons; these incentives may also be extended to smaller ships;
- no restriction on the nationality of the master, officers and crew;
- no restrictions on the sale or transfer of shares of a company owning Maltese ships;
- no restrictions on the sale and mortgaging of Maltese ships;
- no trading restrictions;
- preferential treatment to Maltese ships in certain ports;
- offshore companies operating ships can enjoy all the exemptions and benefits provided for by the offshore legislation;
- ships may be registered in the name of legally constituted corporate bodies or entities irrespective of nationality, or by European Union citizens;
- twenty four hour, seven days a week service in respect of urgent matters;
- Malta is an international maritime centre providing the whole range of maritime services.
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