It is an increasingly accepted procedure to use a company or other form of corporate vehicle to hold a super yacht. This is today the standard procedure in the yachting industry since such a high cost calls for efficient management. The ability to segregate the asset from the owner’s other personal assets, the possibility of asset management and an increased ability to provide tax-efficient solutions are the key reasons for setting up a company or other corporate structure to administer a super yacht.
There are many options of corporate vehicles recognised by Maltese law to hold and register a super yacht. However, the most efficient way to administer a yacht or a vessel in a structured way is by means of a company.
According to the owner’s particular circumstances, KS Shipping Malta may advise as to where such a company should, in our opinion, be domiciled.
It is important to note that an owner may register any vessel including yachts under the Maltese flag in the name of either a Maltese company or an international owner (which may be a non-Maltese company) as long as the international owner appoints a resident agent with a local address in Malta.