Malta - European Yacht Importation by Oceanskies

Introduction

The purpose of this guide is to introduce the EU member state of Malta as a potential location for the importation of a yacht into the European Union.

The guide also introduces the services that can be provided by Oceanskies (Malta) Limited to assist with the EU importation of yachts in Malta.

Oceanskies (Malta) Limited specialises in the registration of yachts under the Malta flag and provides agency services to yachts visiting Malta.

We would stress that this guide should not be construed as legal or fiscal advice and we would recommend that any owner always take their own legal and fiscal advice on whether or not Malta should be used for importation purposes.

Malta – Geographical Position

Malta is located in the heart of the Mediterranean approximately 90 kilometres south of Sicily and 300 kilometres Northeast of Tunisia

The location of Malta makes the island a convenient stop off location for many yachts transiting through the Mediterranean.

Malta – Fiscal Position

Malta became an EU member state in 2004.

Upon becoming an EU member state VAT in Malta was harmonized with the European Council Directive regarding VAT.

EU VAT in Malta in theory applies to all goods that are imported into Malta from outside the VAT territory of the EU unless eligible for relief.

The current standard rate of VAT is one of the lowest in the EU set at 18%.

This means that the VAT applicable to the European importation of a yacht in Malta is 18%.

EU customs duties in theory also apply to all goods imported into Malta from outside the customs territory of the EU unless eligible for relief.

Oceanskies (Malta) Limited Services

Acting as port agents, Oceanskies (Malta) Limited are able to assist yachts visiting Malta by arranging berthing and the handling of all customs, import and immigration formalities either as a stand-alone service or as part of its range of yacht registration services.

Through our locally based, customs approved, partner surveyor in Malta we can also organise yacht valuation surveys in order to determine vessel value for customs importation purposes where necessary.

It should be noted that a yacht does not have to be owned or registered in Malta for its EU importation to be carried out in Malta. Crucially to create an EU import the vessel’s must make Malta its first port of physical entry to the EU.

Types of Importation

The three most common types of yacht importation scenario are as follows:

• Full importation with the payment of the standard rate of VAT in Malta at 18% and any applicable duties. This results in a fully EU VAT paid vessel eligible for free circulation within the EU as a private or commercial yacht.
• Full importation with the deferral of VAT and any applicable customs duties. This applies usually to a vessel that is a commercial yacht operated for charter as part of a bona fide earnestly pursued commercial yacht charter business.
• Temporary Importation whereby the payment of VAT and any applicable customs duties are suspended on the arrival of the vessel on the basis that the vessel is visiting the EU and is eligible for entry and subsequent operation within the EU under the rules of Temporary Admission or other available temporary customs relief.  

Next Steps

Please do not hesitate to contact us to for further information or to request a free no obligation proposal for the EU import of a yacht through Malta.