The maritime industry in Malta is a major economic driver. Malta's strategic location in the Mediterranean Sea, its well-developed infrastructure, and its competitive costs have made it a popular choice for maritime businesses around the world. The maritime industry in Malta also plays a leading role in the development of new technologies and services and the Maltese government is committed to supporting the maritime industry and promoting its growth by focusing on innovation and sustainability in alignment with the trends in the global maritime industry.
The maritime industry in Malta is diverse, encompassing a wide range of activities, including ship registration. Malta has one of the largest ship registries in the world, making it to the top 10 flag states by registered tonnage. Its high standards have earned it a reputation as a 'white flag state'. This means that the Maltese flag is not considered a flag of convenience, and it is trusted by foreign investors in the Maltese shipping industry.
There are several advantages to registering a ship in Malta such as flexibility, cost-effectiveness, and reputation in the authority that regulates this sector. Additionally, the country's tax system provides significant fiscal benefits to operators and ship managers. Ships of all types and sizes can be registered in Malta, including commercial vessels, yachts, and private vessels.
To register a ship in Malta, in principle the owner must submit a set of documents to the Malta Ship Registry through Transport Malta, at the Maritime section, namely a bill of sale, a survey certificate, ownership documentation and payment of registration fees. Once the registration process is complete, the ship will be issued a Maltese flag certificate and a registration number.
The maritime industry in Malta is a dynamic and growing sector that is playing an important role in the country's economy, and it is expected to continue to grow in Malta in the coming years.
Originally published on 31 October 2023
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.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
