At Döhle Malta, our team of experienced professionals can assist and advise yacht owners with a wide variety of services including yacht registration in Malta, VAT leasing structures and yacht importations.
Building on its long and varied maritime tradition, Malta, a member of the European Union, has today established itself as one of the leading maritime hubs and service centres in the Mediterranean region. Placed to become an international centre of excellence in the maritime industry, the Island offers a whole range of international maritime services and facilities as part of a comprehensive package for the maritime industry.
Yacht Registration in Malta
With our wide experience in the field, we can assist in registering private and commercial yachts in Malta. The Malta flag is today a reputable international ship register which grants a number of benefits to those choosing to register their vessel under the Malta flag registry.
Some benefits of registration under the Malta Flag are:
- High-level quality administrative services with twenty four hours, seven days a week service in respect of urgent matters
- Vessels may be registered in the name of legally constituted corporate bodies or entities irrespective of nationality, or by European Union citizens
- Security offered by Maltese law to financiers/mortgagees of Maltese registered vessels
- The procedures for company formation and yacht registration are straightforward with minimum restrictions and low in costs
- No restrictions on the nationality of the master, officers and crew
- No restrictions on the sale or transfer of shares of a company owning a Maltese yacht
VAT and Yacht Leasing in Malta
With the introduction of the VAT Departmentâ€™s guidelines for the VAT treatment of yacht leasing, a Maltese company can benefit from significantly lower effective rates of VAT going down to 5.4%.
Importance is given to the percentage of time that a yacht spends sailing within EU territorial waters, which is established by reference to the size and means of propulsion of the yacht. VAT on the lease shall be paid at the standard rate applied to the percentage established, resulting in a lower effective rate of VAT.
We can advise yacht owners about VAT savings when entering into a yacht lease in Malta and also step in during each phase, from the initial setting up of the lease till the end of the lease term. At the end of the lease the owner of the vessel will be given a VAT paid certificate.
Importation of Yachts in Malta
A yacht owner can bring the yacht into free circulation within the European Union by importing it into Malta. To obtain the relevant import documentation, the yacht needs to visit Malta and undertake the necessary VAT and customs formalities. Our team can support yacht owners during this procedure.
We provide a comprehensive range of administration services. These services have been designed to help owners, agents and captains manage the day-to-day running of their yachts as smoothly and efficiently as possible.
We provide services for:
- â€œReal Timeâ€ management, financial and statutory accounting
- Provision of appropriate insurances
- Assistance with opening of bank accounts
- Credit and prepaid cash cards including the Döhle multicurrency prepaid card
- Support for crew travel arrangements
- Reimbursing of expenses
Finding the right crewmember for a yacht can be an expensive and time consuming exercise and that is why Döhle can provide quality crew for quality jobs.
Our mission is not only to find the right people for the right job, but also to develop long-term relationships with employers and employees. From the ownerâ€™s and Captainâ€™s perspective we will not recommend a candidate if we believe that he or she is not suited to the position.
Employment and Contracts
The jurisdiction from which crew are employed and paid from is important. EU regulations affect both the crew and the employing company - all yacht crew who are employed by an EU based company are liable to pay social security contributions.
At Döhle, we provide solutions to safeguard the interests of both owners and crew members.
Paying members of a yacht crew promptly and efficiently can be time consuming, taking up valuable resources of owners, Captains and yacht managers. Additionally, where crew are employed is important as jurisdictional regulations regarding social security payments will affect both the crew and the employing company.
Our Payroll Service helps ensure that a yachtâ€™s human and support resources are used for their prime purpose and not dissipated by unnecessary administration.
Compliance & Technical
Our compliance services are tailor-made for each yacht and our technical staff are trained to the highest level.
Our Safety Management Systems (SMS) and security plans have been developed and fine-tuned in cooperation with Captains and crew members across a large number of yachts.
Our yacht compliance staff work exclusively for Döhle, and have a wealth of experience in both large sailing and motor yachts and are adept at translating legislation into plans that actually work on board large yachts. All our ISM auditors undergo continuous training and have excellent working relationships with the major classification societies and Flag State administrations.