Ship Registration under the Maltese FlagThe Malta Flag is a flag of confidence and a flag of choice; its good standing evidenced by the number of reputable ship owning and ship management companies which register their ships in Malta. The Malta international ship register is a well-established, dynamic maritime centre; providing a wide range of maritime services. The Malta Flag is on the White List of the Paris Memorandum of Understanding and the Tokyo Memorandum of Understanding as well as being on the Low Risk Ship List of the Paris Memorandum of Understanding. In this regard Tankship Management Ltd. is in an ideal position to assist ship owners to register their vessels under the Maltese Flag, as the Company is based in Malta. Additionally choosing Tankship Management Ltd. presents significant advantages to prospective clients, as the registration process would be conducted by a specialized team within the Company with considerable experience in the Maritime industry, in other words dealing with Marine professionals from the commencement to the conclusion of the registration process. Registering ships under the Maltese flag presents owners with significant incentives, including amongst others:
Ship registration under the Malta flag and the operation of same is regulated by the Malta Merchant Shipping Act of 1973 (as amended). Any type of vessel can be registered, provided that it is fully owned by a legally constituted corporate body or entity irrespective of nationality. Additionally ships can be registered by European Union citizens. The formation of a Maltese company is a straightforward operation; with there being no nationality requirements as to both shareholders and directors and the principal place of business need not be located in Malta. Limited liability shipping companies are formed by means of a public deed or private writing, with the minimum amount of subscribed capital required by law being €1,165 of which 20% must be paid up. A company can be registered in a few hours on the basis of Power of Attorney sent by shareholders to their representatives in Malta, together with the following information:
An outline of the procedure to follow when registering a ship under the Maltese Flag is listed hereunder:
Should any statutory certificates not be in place on the ship at the time of registration, a Non-Operational Certificate of Registry would be issued until the situation would be rectified. A certificate of Malta Registry is renewable annually before or on the anniversary date of the Maltese registration.