Benefits of owning a Malta Shipping Company
Being able to apply for a 100% exemption from Income Tax on the resultant profit is essentially the most attractive proposition.
In fact, a Malta shipping company, registered under the Merchant shipping Act, is a very tax efficient medium with which one can own and register it‘s ships under a Maltese flag. Companies owning or operating (including under bare boat charter) Malta-flagged vessels may apply and benefit for a complete exemption from Income Tax on the resultant earnings.
There are various advantages of registering a Ship under a Maltese flag, as well as operating the Shipping operations through Malta – including:
- Malta offers very competitive ship registration Fees
- Malta offers Low Corporate Formation and maintenance fees
- 100% Tax exemption for ships that meet certain specifications with a Maltese Shipping Company
- Malta imposes no restrictions on the nationality of the ship owner;
- Malta imposes no restrictions on the nationality of the master, officers and crew;
- No withholding Taxes.
- No restrictions or taxation on the sale and mortgaging of Maltese registered ships;
- No trading restrictions
- Maltese flagged vessels enjoy preferential treatment to Maltese ships in certain ports;
“Companies owning or operating (including under bare boat charter) Malta-flagged vessels may apply and benefit for a complete exemption from income tax on the resultant earnings.”
