Bareboat Charter Registration
Maltese law provides both for bareboat charter registration of foreign yachts under the Malta flag and also for the bareboat charter registration of Maltese yachts under foreign flag. The main principles adopted at law are compatibility of the two registries and that matters regarding title over the yacht, mortgages and encumbrances are governed by the underlying registry, while operation of the yacht falls under the jurisdiction of the bareboat charter registry.
Within these parameters, yachts bareboat charter registered in Malta enjoy the same right and privileges, and have the same obligations as any other yacht registered in Malta. A bareboat charter shall be for the duration of the bareboat charter or until the expiry date of the underlying registration, whichever is the shorter, but in no case for a period exceeding two years. Registration may be extended.
The requirements and registration procedure for bareboat charter registration in Malta are similar to a normal registration, except that:
- Yacht is bareboat charter to a body corporate, entity or such other person qualified to own a Maltese ship.
- Yacht is not a Maltese yacht, and is registered in a compatible registry.
- Yacht is not registered in another bareboat registry.
Following documents need to be produced:
- Application for registration by the chatterer or an authorised representative.
- Declaration of bareboat charter accompanied by the charter agreement.
- Transcript or an extract of the underlying registration.
- Copy of the yachts International Tonnage Certificate.
- Consent in writing of the underlying registry, owner and mortgagees.
Registration fees and annual tonnage tax for bareboat charter registration are the same as those applicable for normal registration.