What are vessel and aircraft owners looking for in a jurisdiction to register their mobile assets?

We generally find that our clients are primarily concerned with the complexity of the documents they need to provide, the language used by the jurisdiction and the extent to which their individual rights can be enforced. There is also a growing focus on safety regulations and the jurisdiction’s reputation for upholding safety standards.

What should superyacht owners considering Malta keep in mind?

Registrants should understand that Malta is an autonomous jurisdiction and does not form part of any other registry. We often encounter clients comparing the Maltese registration process to that of other countries, when in fact, Malta has studied and improved the procedures, laws and regulations of other jurisdictions. This has resulted in a system unique to Malta. It is therefore essential that clients view Malta as a standalone jurisdiction with certain similarities to other registries, rather than as one that is identical to those they may already be familiar with.

“Clients who choose to register their vessels in Malta are generally very satisfied and we see a high volume of returning clients and referrals.”

Are there any particular challenges facing Malta as a ship and aircraft registry? How is it meeting these challenges?

I believe the main challenge stems from the success of both registries. As a result, it is crucial to maintain adequate support in the respective departments in terms of human resources, while staying abreast of current trends and technologies.

In 2020, Malta introduced legislation for Mobile Assets Protected Cell Companies (MAPCC). In your experience, have you seen interest in such structures? What do ship owners gain by utilising MAPCCs?

MAPCCs have been highly successful, and their use has clearly increased since they were first introduced in 2020. Vessel owners tend to opt for MAPCCs as they benefit from the segregation of different pools of their assets and liabilities within a single entity. This ensures that the assets and liabilities of each individual cell are distinct from the core cell company. MAPCCs are also frequently utilised for aircraft fleets.

How satisfied would you say clients who choose Malta to register their vessel are with their choice?

Our firm specialises in the yachting industry, where transactions tend to move at a fast pace. Clients who choose to register their vessels in Malta are generally very satisfied and we see a high volume of returning clients and referrals. The Maltese flag is the largest in the EU and is internationally recognised and respected, which facilitates inspections and other technical processes. The registry itself is fairly efficient and provides a 24hr service to its clients. The Merchant Shipping Act also provides a comprehensive and secure registration framework, supported by effective corporate structures that meet the needs of our clients.