Eeven older than Egypt’s primordial pyramids and yet Malta is also considered to be one of the hottest nightlife and sailing destinations in Europe.
Located in the heart of Europe, North Africa and the Middle East, Malta is a major recognised and respected maritime core, offering a wide range of services and facilities for this nautical sector. With its strategic geographical location and membership of the European Union, Malta has assets that enable it to offer integrated international maritime services as well as many high-quality services and infrastructures.
Malta does not impose restrictions on the type of vessels which can be registered under its flag and is widely acknowledged as an extremely accessible country, allowing ship owners the possibility to register non-conventional vessels under the Maltese flag. Malta’s has a well-earned reputation in the maritime field as an efficient, reliable and a world renowned luxury yacht charter destination, with a well-established maritime jurisdiction, placing Malta as the first maritime register in the European Union and seventh in the world.
Due to Malta’s membership of the European Union and superb strategic geographical location and assets which enable provision of integrated international maritime premium services and a quality infrastructure.
Malta provides a range of advantageous tax solutions, in consideration to the ownership and operation of vessels. with an extensive double-tax treaty network and transparency of rights and interest. With International Interests in Mobile Equipment Malta adheres to the Cape Town Convention, which sets international standards for leases, security interests and registration of contracts. In addition, income from international transport of goods and passengers outside the country is exempt from Maltese tax. As Malta is an EU member a Maltese registered aircraft both on international and internal flights has freedom of movement within EU countries.
Since 2010, the minimum period to claim deductions has been reduced to six years’ airframe, engine, overhaul and four years for interiors etc. There are also favourable advantages of valuable accelerated depreciation periods by registering an aircraft in Malta and recognition of fractional ownership of aircraft so that a title may be divided between co-owners, in specified fractions or percentages, which may each be financed by a different creditor taking security over the particular fractional interest for which finance has been provided.
Due to the current size of the Maltese register and the Civil Aviation authority, this ensures efficiency and a quick reaction time to all aircraft registration and AOC applications. Generally, AOC, can be obtained within approximately 5 to 6 months with a well prepared and supported AOC application. Initial and recurrent fees associated with operating a business jet in Malta are amongst the cheapest in Europe.