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Malta implemented an excellent opportunity to buy a yacht leasing. The leasing contract – an agreement under which the lessee is entitled to use the vessel for a regular fee, and upon expiration of the deal he can buy a yacht for a certain percentage of its value. Yacht Leasing in Malta is considered as a service and is subject to VAT, which is paid by the lessee during the period when the boat is located in the territorial waters of the EU.

Based on the classification of the yacht by its type and length, time of use in EU waters, the Maltese government has developed a formula for calculating the amount of VAT. Standard tax rate here is 18%. A person who owns a yacht of 24 meters in length, shall pay a tax rate of 18% to 30% of the total lease payment. Thus, the effective rate is 5.4%. For smaller vessels, depending on the size of the rate is, on average, 7.1%, 10.5%, 12.2% and 18% of 100 percent of the lease agreement.

The initial contribution is equal to 50% of the value of the yacht, and the maximum lease term – 36 months. Minimum profit that boat owner receives from the application of the leasing scheme, has only 1%, the minimum rate that is charged on payments to the lessor is 0%, and the final payment – only 1% of the value of the yacht.

Under such a leasing scheme in terms of the transaction include:

  • approval from the department of taxes;
  • registration of the lessor;
  • application for registration as a tax payer;
  • lease agreement and assess of the yacht, their provision to government departments.

After the ending of leasing the lessor pays tax on interest income from leases, after which the company is liquidated.

Thus, the standard rate applies only to the part of the lease payments, because it seems that the large and powerful yachts most of the period of use will be outside the territorial waters of the EU, and therefore decreases the amount of VAT.

Such a VAT refund scheme attracts many individuals and corporate service providers who benefit from such financing leasing scheme by the owner-client yacht. However, due to the constantly changing conditions and rates of VAT refund independent registration of the leasing transaction may be subject to a number of difficulties and delicate situations for the client, need to change documentation, financial and accounting recalculations. To do this, the client will have to hire a staff of lawyers and accountants who have extensive knowledge and experience in the Maltese and EU legislation, which is fraught with high financial costs.

Our company operates in the provision of professional assistance when buying yachts in leasing for a long time. During this period we have gathered considerable experience, extensive partner base and the best experts in the field of European Union law and Maltese law that allows us to easily support our customers in all situations. Contact us and we’ll tell you about all the intricacies of the yacht leasing in Malta buying process.

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  • ГЛАВНЫЙ ОФИС
5 STARS EUROPE Monaco
Block C/D Le Panorama
57 rue Grimaldi
98000 MC
www.5starseurope.com
info@5starseurope.com
Tel.: +33 1 82 88 38 98
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