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Shipping & Yachting

The Maltese Flag relishes a high reputation with the international shipping community. In this regard, Malta has the eighth largest ship registry worldwide and the second largest in Europe. Since Malta’s accession to the European Union, the pace of development has picked up rapidly with an approximate 2% increase per annum in the fleet, according to the Malta Maritime Authority.

Shipping Registration in Malta & Management Service

The main reason for such growth is attributed to the fact that Maltese registered ships benefit from several advantages including low costs with regards to registration, tonnage dues and professional fees both for the registration and administration of the company and vessel. Also, the shipping industry has no trading restrictions or restrictions on the nationality of ship owners, master, officers and crew. It also boasts of an effective mortgage system.

All types of vessels, as well as ships under construction, may be registered in Malta. Registration procedures are also quite simple and efficient with the possibility of registering a vessel within 48 hours from the receipt of the required documents.

The attractive fiscal incentives to owners also contribute to the high ranked position that Malta enjoys in this industry. The Maltese tax regime includes income tax and VAT exemptions, as well as exemptions related to stamp duties on the purchase/sale of ships, and exemptions on social security contributions in Malta by non-resident crew.

Fuel and Oil 

 

Leading Bunker Agents In Malta​

As one of Malta's leading bunker agents, Accountancy Direct can provide full services offshore of Malta and in the port of Valletta and Marsaxlokk. Our local knowledge and contacts within the maritime industry are unrivalled, enabling us to offer the most cost-effective and timely services available, with a dedicated team who will ensure smooth and seamless bunker agency operations.

More than a quarter of a century of operations has given us a huge understanding of maritime and shipping coordination. As such, we understand the importance of sticking to schedule is important, and therefore we pre-plan every aspect of your operation to avoid any unnecessary delays and help keep you on time and up to date at every point of the process.
 

Bunker Agency Services

We pass on continuous updates at every stage of the bunkering process to ensure that you are kept aware of important information, and we offer an immediate response to any enquiry to ensure your mind is at rest to enable you to focus on the task at hand.

During bunker delivery, our dedicated team work together with you to ensure an efficient operation, with a continual communication link to ensure both parties are aware of every aspect of the process.
 

Bunker Supply

You can also benefit from one of the largest oil terminals in the Mediterranean, giving you more freedom to carry out the large operations often required at this busy port of call, which is utilized by some of the largest shipping and logistical companies in the world.

In addition, along with our bunker services we can also offer crew changes, video service, diver inspections, spares delivery, repairs life raft repairs via our off shore launch.

Yachting in Malta

The Maltese VAT Department has set up Guidelines for the treatment of Yacht Finance Leasing transactions providing a means to acquire yachts through a Maltese structure and pay VAT on the same at advantageous rates, subject to clear terms and conditions established in the Guidelines.

 

The advantages of the Maltese Yacht Leasing include:

  • The provision of clear Guidelines prescribing adequate leasing conditions

  • An objective method of taxation allowing for a transparent procedure

  • The issue a VAT Paid Certificate at the end of the lease

  • A Structure allowing various finance options

The standard rate of VAT of 18% is applied on the established percentage of the lease, deemed to be related to the use of the boat in EU territorial waters. The minimum rate is paid on a yacht of 24 meters or bigger, where the vatable portion is established at 30% with an effective rate of VAT between 5.4 and 6.2 per cent.

 
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