The number of yachts over 24m in length, or superyachts, registered in Malta now numbers over 1,100, as compared to 1,030 last year.
At the end of August, there were 383 commercial yachts and 724 private yachts longer than 24m on Malta’s Merchant Ship Registry.
These statistics were provided by Transport Malta.
Alison Vassallo, partner at Fenech & Fenech Advocates and chairperson of the Yachting Services Business Section within The Malta Chamber, commented:
“Today Malta is an undisputed world leader in the registration of superyachts and the largest European flag.
“Added to this are the legal protection afforded to financiers, effective tax structuring options, a solid legal system and streamlined importation procedures. These are complemented by the excellent marina, refit, chandlery, and agency services offered to yachts physically calling at our shores.”
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Since its inception, the Family Business Office has been instrumental in highlighting the needs of family-run enterprises in Malta.
Seat Load Factor also stood strong during the period, with an increase of 6.8% when compared to 2019