The maritime industry in Malta is highly established and holds a solid reputation even though Malta is one of the smallest members of the European Union. It holds the largest maritime registry in Europe and the seventh largest in the world.
Most of the world’s ships are registered in just a few nations. Around 50% of the world’s ships are registered in just three locations: Panama, Liberia and the Marshall Islands. Around 70% of the world’s ships are registered in 7 locations, the three above as well as Hong Kong, Singapore, Bahamas and Malta.
The Maltese flag appears on many ships and yachts. This success has been mostly triggered by Malta’s strategic location in the middle of the Mediterranean Sea combined with its vast maritime history and since it has established itself as a white flag state. This means that the Maltese flag is not a flag of convenience but a flag that’s trusted by foreign investors interested in the Maltese shipping industry.
The Maltese flag is also chosen for the highly affordable registration costs and fees, resulting in major savings. Transport Malta, the authority that regulates this sector, that has the lowest fees in the European Union.
The Maltese Merchant Shipping Act is largely based on its English counterpart and principally governs the registration and operation of vessels. The Merchant Shipping Directorate at Transport Malta is responsible for the registration of vessels under the Maltese flag and the provision of all aspects of the on-going administration of Malta-flagged vessels.
At Sciberras Advocates we provide advisory services to individuals and legal persons who would like to register their commercial or pleasure boat in Malta. We can handle the registration process assisting you in benefitting from the highly affordable registration costs and fees of service charged in Malta, all whilst ensuring a smooth process. More information here: https://sciberras.legal/practice-areas/ship-yacht-registration/ .
Article written by Ms Charlene Sciberras, B.A. (Hons), guest writer, is a marketing and business administration specialist with a special focus on corporate, accounting, and legal matters.
Sciberras Advocates founded by Dr Adrian Sciberras, is a law firm based in Malta. The firm prides itself to be multi-disciplinary, innovative and flexible in order to meet the changing times and any challenges in the local and international legal scenario. No matter what private or corporate complex demands are called for, Sciberras Advocates offers practical and cost-effective legal solutions to achieve your desired results. You may reach Sciberras Advocates by phone on +35627795222 or via email on [email protected].