There are several incentives to incorporating your shipping organisation on Malta’s shores. Given our years of experience with shipping organisations and ability to integrate this business with your other accounts and services, Integritas is a logical choice for your shipping organisation.
Shipping organisations in Malta: Clear Advantages
Founding your shipping organisation in Malta has several advantages from geographic, logistic, and financial standpoints.
Malta’s geographic location in the heart of the Mediterranean and as a midway point between Europe and northwestern Africa presents easy trading opportunities.
As the largest maritime centre in Europe and the seventh largest in the world, Malta offers clear logistic advantages, saving you and your clients time and money.
Financial benefits also abound. Read below to find out more.
Financial Benefits of Founding Your Shipping Organisation in Malta
Whether you are a foreign owner or Maltese, shipping organisations have several tax advantages in Malta in relation to their shipping activities.
Here are some of the benefits that await you:
- No tax charged or payable on income, to the extent that such income is derived from your organisation’s shipping activities;
- No tax charged or payable on any income, profits or gains of a licenced shipping organisation derived from the sale or other transfer of a tonnage tax ship or from the disposal of any rights to acquire a vessel which, when delivered or completed, would qualify as a tonnage tax ship;
- No tax charged or payable on any gain arising on the liquidation, redemption, cancellation or any other disposal of shares, securities or any other interest, including goodwill, held in any licenced shipping organisation owning, operating, administering or managing a tonnage tax ship;
- No stamp duty charged on the registration of a tonnage tax ship under the Merchant Shipping Act and other registrations relating to a tonnage tax ship;
- No stamp duty charged on the sale or other transfer of a tonnage tax ship or any share thereof;
- No stamp duty charged on the issue or allotment of any security or interest of a licenced shipping organisation or the purchase, transfer, assignment or negotiation of any security or interest of any licenced shipping organisation or other company.
Am I Eligible to Incorporate a Shipping Organisation?
You don’t have to be Maltese or even based in Malta to take advantage of these benefits. In fact, any individual may incorporate a shipping organisation providing that the organisation’s activities relate to:
- The ownership, operation (under charter or otherwise), administration and management of a registered Maltese ship (or registered under the flag of another state), and all ancillary financial, security and commercial activities in connection therewith; and/or
- The holding of shares or other equity interests in entities, whether Maltese or otherwise, established for any of the purposes stated in Maltese law and the carrying on of all ancillary financial, security and commercial activities in connection therewith; and/or
- The raising of capital through loans, the issue of guarantees or the issue of securities by the shipping organisation when the purpose of such activity is to achieve the objects stated in this article for the shipping organisation itself or for other shipping organisations within the same group.
Easy Process, and Integritas Has You Covered
Once a shipping organisation is registered as the owner of a Maltese registered vessel, it is considered to be a licenced shipping organisation.
Shipping organisations are incorporated in Malta in the same manner as ordinary Maltese trading or holding companies.
The Integritas Group assists clients with the full incorporation process, and we can provide a variety of essential services, including directorship,company secretary, fiduciary shareholding, registered office, payroll, accounting, tax and VAT services.
To get assistance in Shipping Organisations Incorporation in Malta, Contact Us!