The Malta Ship Registry began to take shape in the 1970s, and although ships were being registered in Malta at the time, they were not yet registered under the Maltese flag. The Merchant Shipping Act was then enacted in 1973, and since then, it had been revised and updated to keep up with the changing needs of the maritime industry, ensuring its continued relevance.
The Evolution of the Malta Ship Registry
In its first years, the Malta Ship Registry encountered significant challenges due to the lack of technology available to promote the Maltese flag overseas, resulting in limited awareness of Malta as a ship registry. Notwithstanding the limited resources, the Malta Ship Registry was found to be highly efficient when compared to other registries. As a result, the Maltese register has seen an increase in Maltese registered vessels, which has yielded positive outcomes.
Today, the Malta Ship Registry is regarded as one of the world’s largest and is actively engaged in international organisations such as the International Maritime Organization (IMO) and the European Union. This enables the registry to stay abreast of the latest developments in the shipping industry and take an active role in shaping the global maritime policy.
Advantages of Registering Your Ship in Malta
The Malta Ship Registry is recognized for its cost-effectiveness in registering vessels, as the company formation and tonnage tax costs are relatively low compared to other registries, making it an attractive option for shipowners looking to reduce expenses. Additionally, Malta provides attractive tax incentives to yacht and superyacht owners which encourages further commercial activity.
Malta’s proactive approach to the maritime industry is evident in its legal framework, which allows for the registration of yachts. This has resulted in an increase in superyacht registrations, making Malta an advantageous choice for shipowners seeking to register such vessels.
Furthermore, the strict safety and environmental regulations enforced by the Malta Ship Registry have enhanced the Maltese flag’s reputation as a high-quality flag worldwide. This makes Malta an appealing choice for shipowners who prioritise safety and sustainability.
As the registry marks its 50th anniversary, it is poised to continue promoting the Maltese flag as a quality flag while providing top-notch services to the shipping industry. The future looks bright for the registry, with a commitment to its mission of delivering excellent services to its clients.
Our Shipping & Yacthing services
When it comes to shipping & yacthing services in Malta, we are here to provide you with comprehensive assistance and support throughout the entire process of ship registration. Our dedicated legal team understands the intricacies of ship registration and is well-versed in the requirements and procedures specific to Malta, ensuring a smooth and successful registration that aligns with your business objectives.
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