W.J. Parnis England Ltd. is a pioneer in Malta flag registration for ships and yachts. Since the inception of the Merchant Shipping Act, international ship owners have been able to register their vessels under the Malta flag, reaping significant fiscal and legal benefits. Our CSP Class C License not only allows us to facilitate Malta flag registration but also enables us to handle company formations for these registrations. With our extensive experience in this sector, we ensure efficient registration and renewal of Malta flag registration for commercial vessels. Trust us to navigate the complexities of Malta flag registration, providing you with seamless and expert service.
Why Choose Malta Flag?
- Ships may be registered in the name of legally constituted corporate bodies or entities irrespective of nationality, or by European Union citizens and by European Free Trade Area Nationals (Norway, Iceland, Switzerland and Liechtenstein).
- Low company formation, ship registration and tonnage tax costs.
- Progressive reduction in registration and tonnage tax costs for younger ships.
- These incentives may also be extended to smaller ships.
- No restrictions on the nationality of the master, officers and crew.
- No restrictions on the sale or transfer of shares of a company owning Maltese ships.
- No restrictions on the sale and mortgaging of Maltese ships.
- No trading restrictions and, preferential treatment to Maltese ships in certain ports.
- 24/7 service in respect of urgent matters.
- Malta is an international maritime centre providing the whole range of maritime services.
- Attractive incentives to owners, registered charterers and financiers of Maltese ships of over 1,000 net tonnage.
Eligibility
All types of vessels, from pleasure yachts to oil rigs, including vessels under construction, may be registered, provided that, inter alia, they are wholly owned by legally constituted corporate bodies or entities irrespective of nationality, or by European Union citizens; a Maltese ship may also be bareboat charter registered under another flag.
There are no trading or age restrictions, however the following conditions apply:
- Ships of 10 years and over, but under 15 years, must pass an inspection by an authorised flag state inspector before or within a month of provisional registration; and
- Ships of 15 years and over are required to pass an inspection by an authorised flag state inspector prior to being provisionally registered. As a rule trading ships of 25 years and over are not registered.
Bareboat Charter Registration
Maltese law provides both for bareboat charter registration of foreign ships under the Malta flag and also for the bareboat charter registration of Maltese ships under a foreign flag.
The main principles adopted at law are, the compatibility of the two registries and, that matters regarding title over the ship, mortgages and encumbrances are governed by the underlying registry, while the operation of the vessel falls under jurisdiction of the bareboat charter registry.
Within these parameters ships bareboat charter registered in Malta enjoy the same rights and privileges, and have the same obligations, as any other ship registered in Malta.
A bareboat charter registration shall be for the duration of the bareboat charter or until the expiry date of the underlying registration, whichever is the shorter, but in no case for a period exceeding two years. Registration may be extended.
The requirements and registration procedure for bareboat charter registration in Malta are similar to a normal registration, except that:
- Ship is bareboat chartered to a body corporate, entity or such other person qualified to own a Maltese ship.
- Ship is not registered in another bareboat registry.
- Ship is not a Maltese ship and is registered in a compatible registry.
Registration fees and annual tonnage tax for bareboat charter registration are the same as those applicable for normal registration
Mortgages
Once a vessel is provisionally registered, registration, transfer and discharge of mortgages may be effected immediately on presentation of the relative documents to the Registrar. The 1986, 1988, 1990 and 2000 amendments introduced important safeguards in respect of registered mortgages thus making financing of Maltese ships more attractive.
- They enjoy a high priority in an eventual ranking of claims against a Maltese ship
- Mortgages constitute executive titles and may be enforced immediately without the need to institute lengthy court proceedings
- They attach to any proceeds from any indemnity as well as any insurance proceeds
- A mortgagee may prohibit the registration, without his prior written consent, of subsequent mortgages in favour of other creditors, unless such further mortgage is executed in favour of an existing mortgagee
- The Registrar of Ships is bound to notify the mortgagee upon the transfer of a registered ship to a new Maltese owner
- The sale of a Maltese ship to a foreign owner requires the prior written consent of all registered mortgagees;
- A mortgagee may apply for any extensions, pay fees and do all such things in the owner’s name in order to maintain the status and validity of the ships registration.
Registration Procedures and Requirements
The procedure for the registration of a vessel is relatively straightforward. Provisional registration, which in terms of the law has the same effect as the so-called permanent registration, can be affected very quickly once provided with all the required paperwork.
- An application for registration by the owner or an authorised representative including, if required, an application for change of name of ship.
- Proof of qualification to own a Maltese ship; in the case of a body corporate, the memorandum and articles of association.
- In the case of non-resident owners, appointment of a resident agent.
- A copy of the ship’s International Tonnage Certificate, where applicable.
- A declaration of ownership made in front of the Registrar by the owner or an authorised representative.
- Evidence of seaworthiness; in the case of trading ships, confirmation of class, with a recognised organisation and information of the ship statutory certification including company ISM compliance.
- Where applicable, request for the Administration to authorise the appropriate recognised classification society to issue the ship’s certification.
- Where applicable, application for Minimum Safe Manning Certificate.
- Application for Ship Radio Station Licence.
- Payment of initial registration fees and annual tonnage tax.
Why Choose Us?
Our company features a dedicated team that provides a full range of services for ship owners looking to register vessels under the Malta flag. With years of experience in this field, we ensure a swift and efficient registration and renewal process for all vessels.
W.J. Parnis England Ltd. (C 399) is regulated by the Malta Financial Services Authority (MFSA) and holds a Class C CSP license. This enables us to offer comprehensive Ship and Yacht Registration services, as well as support for crew certifications, ensuring our clients receive the guidance they need throughout the Malta flag registration process.
