Monaco yacht show 2017

7 rue Suffren Reymond, Le Suffren, 98000 Monaco | 27 Sep 2017

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Each year, the Monaco Yacht Show curates the exhibition of 125 superyachts and welcomes 580 leading companies from the yachting industry. This year is no exception – from the 27th till 30th September 2017, the House of Fine Yachting shall be hosting the yearly luxurious event at Port Hercules in Monaco. Dr Silvana Zammit, a partner at Chetcuti Cauchi, who heads our Transport Practice Group which services clients in the maritime, aviation and general transport industries, will be attending the Monaco Yacht Show and promote our Malta VAT Yacht Solution. She will be accompanied by Rebecca Attard, an associate at our firm.

Dr Silvana Zammit

Silvana's practice mainly focuses on assisting clients with business start-ups requiring a license for their operation. In fact, Silvana has in-depth experience in licensing processes, especially those relating to online gaming, banking and other credit institutions, insurance and investment services. Working closely with the regulatory authorities in Malta, Silvana provides tailor-made advice for the obtainment and maintenance of licenses referring to the specific operations of the client. On the attainment of a license, Silvana provides ongoing legal support to clients in making sure that all requirements relating to their licensed operations are adhered to. 

Why Malta?

Malta is ranked as the largest shipping registry in Europe and 6th largest in the world and this success in the maritime industry, with particular relation to superyachts, can be attributed to the Malta VAT Yacht Solution which makes Malta a favourable jurisdiction for VAT minimisation. VAT can be reduced to 5.4% through a leasing set up. This involves the setting up of a Malta company which acquires the yacht, the arrival of the yacht in Malta, leasing the yacht to a third party (the client) during which the value of the yacht is redeemed, and the sale of the yacht to the client for at least 1% of the value of the yacht when the lease expires. There is also the option to register the yacht under the reputable Malta flag.
The structure of the VAT rates is such that the bigger the boat, the less tax is paid, with boats over 24 metres charged a minimal 5.4% VAT, as opposed to the full 18% of VAT which is usually charged. This means that clients will be more inclined to buy a bigger boat to benefit from the most efficient tax rate. It is also important to note that upon the purchase of the yacht after the lease expires, a VAT paid certificate would be issued, and the yacht would be allowed to sail freely anywhere in the EU.

Read our article on the Top 3 reasons why you should choose the Malta Yacht VAT solution


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We specialize in assisting foreign investors and their families with a multi-disciplinary team of lawyers. If you wish to discuss how we can assist you with meeting your personal or professional goals, feel free to contact us.

 



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