Advantages of Registering
a Ship under a Maltese Flag.
• The procedure for the registration of
ships in Malta is well-defined and straightforward.
• Owners, charterers and financiers of Maltese
ships may benefit from highly favourable tax rates
on profits derived from the ownership, sale, operation
and charter of Maltese ships.
• There is complete exemption in Malta from
stamp duties payable on the sale or transfer of
a ship and the allotment of any share or stock
of a company owning such a ship, exchange control,
capital gains tax or VAT.
• There are no restrictions on the sale
or transfer of shares of a company owning Maltese
ships.
• There are no restrictions on the sale
and mortgaging of Maltese ships
• There are no restrictions on the nationality
of the Master, officers and crew of vessels registered
under the Malta flag.
• Maltese ships benefit from preferential
treatment in certain ports.
• It is possible to register vessels which
are still under construction as well as other
marine structures which do not fall within the
strict definition of ships such as oilrigs, floating
docks, pontoons and barges
It is easy to register a set up a Maltese Shipping
Company. With all the Documentation in place
it could take 48 hours to register the Malta
Company
Contact us for more information as well as for
a quote. We will happily guide you through the
ship registration, and company formation process
and also advise you on the solutions that would
best suite your needs!. info@CompanyinMalta.com.
Or call +356 21 378 722
Taxation of Shipping Companies under MSA
Shipping companies are subject to corporate
tax at the normal domestic rate. However, if
a ship is owned by a shipping company that is
registered in Malta, or by an organisation recognised
by the Maltese Authority, then it is entitled
to certain benefits.
1. The vessel that such, referred to as a ‘tonnage
tax’ ship has all of its income exempt
from income Tax.
However, the shipping company will be have
to pay an annual tonnage tax as well as a registration
fee, details of which can be obtained from us
(info@CompanyinMalta.com) . Registered vessels
must be in excess of 1,000 net tons to fully
benefit from these tax advantages, however the
Maltese Authorities give concessions on a case
by case basis.
2. No further tax shall be charged or payable
on any gain arising on liquidation, redemption,
cancellation, or any other disposal of shares,
securities or any other interest, including
goodwill, held in any licensed shipping organization..
3. Also no tax shall be payable by any person
on interest or other income payable to him in
relation to any financing of the operations
provided for under the MSA with regards to the
objectives a shipping corporation may pursue,
or to the financing of any ship of not less
than 100 net tonnage.
Maltese Shipping Company dividends distributed
to the corporate shareholders are also exempt
from tax if such dividends are distributed out
of gains or profits derived from the ownership
or operation of a tonnage tax ship.
4. Any non-resident officers or employees of
licensed shipping organisations, and the organisation
in their respect, shall be entitled to be exempt
from the provisions of the Social Security Act.
There shall also be no duty chargeable in accordance
to the Duty on Documents and Transfers Act in
respect of:
(i) The registration of a tonnage tax ship .
(ii) The issue or allotment of any security
or interest of a licensed shipping organisation
(iii) The registration of any mortgage or other
charge over or in relation to any ship or licensed
shipping organization, any transfer or discharge
thereof, and receipt relative thereof and any
assignments granted in connection therewith;
or
(iv) The assignment of any rights and interests.
Contact us for more information as well as
for a quote. We will happily guide you through
the ship registration, and company formation
process and also advise you on the solutions
that would best suite your needs!. info@CompanyinMalta.com.
Or call +356 21 378 722