On 12th March 2020, the Office of the Commissioner for Revenue (“CfR”) published new guidelines (the “Guidelines”) in connection with the leasing of pleasure yachts and the corresponding treatment of such leases for VAT purposes, which guidelines are essentially based on Article 59a of the EU VAT Directive.
A snap shot of the various Residence Programmes currently accommodated by Malta’s strategic legislative framework.
On the 1st January 2017, the Family Business Act (Chapter 565 of the laws of Malta) came into force in Malta with the aim of, inter alia, encouraging the regulation of family businesses, their governance and the transfer of the family business from one generation to the next, thereby assisting family businesses to enhance their internal organisation and structure with a view to working towards a seamless and effective succession of the family business.
A decade or so of key regulatory innovation spanning various industries, such as financial services, gaming, yachting and aviation, has incentivised several global entrepreneurs to use Malta not only as an efficient domicile of choice for their business interests but also as a base for their luxury ‘toys’.
An overview of the various legal issues to be considered when launching your Malta start-up business
Townhouses, farmhouses, penthouses, houses of character, villas, bungalows, maisonettes, country views, sea views. You want it, Malta’s got it.
Malta has in recent years become an attractive base for anyone involved in the aviation industry. Malta’s Aviation Registry has in fact continued to achieve a steady growth with a record of 61 aircraft registered in 2015. The success of the Aviation Registry is sustained by fiscal incentives including a low corporate tax regime as well as rebate on profits. This is complemented by specialised technical personnel who are readily available, flexible and accessible.
The Malta Commercial Code was launched in 2006 and brings together in one document the requirements for both yachts below 24 metres and yachts above 24 metres in order to be operated commercially. As at December 2015 more than 230 yachts, with an average length of 31 metres, are registered as commercial yachts under the Malta flag.