SHIP MANAGEMENT

USES 

 

Malta is ideal as a base for ship operations. Maltese legislation allows the incorporation of special types of Ship Management Companies intended to be used also for the management, administration or operation of ships whether the vessels are registered in Malta or elsewhere. 

 

It is possible for such Ship Management Companies to set up a fully equipped management office in Malta with its own staff. Work permits can be obtained for any expatriate employees required to run the operation from Malta. Any equipment required by the company can be imported duty free into Malta. 

 

The company can utilise local commercial banking services in order to operate its financial transactions or operations (both domestic and foreign) from Malta itself. 

 

This sector has proved very popular over the past years and various Ship Managers have set up such companies here and are running whole fleets of vessels with full management, accountancy, banking and auditing services being carried out in Malta. 

 

BENEFITS 

 

Low level of taxation for non-resident shareholders of such companies. 

 

Complete anonymity is offered to the beneficial owners of such Ship Management Companies, and this is made possible through the use of Nominee shareholders and Nominee directors offered by locally licensed Nominee Companies such as our-in-house TCV Management & Trust Services Limited. 

 

All profits can be expatriated at the choice of owners or retained in local foreign-currency designated interest-bearing accounts. 

 

No exchange control requirements. 

 

Operations can be in any currency. 

 

REQUIREMENTS 

 

For requirements see information in the Maltese Companies section of the website.