With its extensive ports, facilities and related services, together with a comprehensive and legal framework, the island today attracts vessels of all types, from tankers to cruise liners, super yachts and oil rigs, such that Malta has become Europe’s leading flag administration having the largest European ship register.
With a clientele that includes both private individuals and corporate bodies with varying demands, IURIS has geared itself to provide clients with results-driven solutions in an efficient, tailor-made and cost-effective manner. Services provided include the purchase and lease of vessels, ship registration and maritime litigation, in addition to ongoing monitoring and compliance services.
Our team of lawyers at IURIS may provide you with assistance on:
The sale and purchase of vessels
IURIS is retained by sellers and purchasers of second-hand tonnage to advise on SnP transactions, including, the drafting of addenda to the MoA, rider clauses, sellers’ and purchaser’s documentation, seller’s and purchaser’s corporate authorities and attendance and coordination of deliveries at closing meetings.
IURIS offers a comprehensive package consisting of both legal and advisory services on project/asset financing, including the review and vetting of loan agreements, transaction and security documentation, the drafting of corporate authorities necessary for the borrower to enter into a proposed financing transaction, the drafting of mortgage recitals, the registration, amendments and discharge of Maltese statutory mortgages and the provision of legal opinions and advice on the enforceability of Maltese statutory mortgages. The IURIS team has extensive experience in the field of enforcement of mortgages or other forms of security in Malta.
The IURIS shipping department offers clients and other intermediaries a comprehensive one-stop-shop on all matters pertaining to the registration of ships, yachts and other vessels under the Malta flag, together with ancillary services such as the formation of shipping companies, acting as a resident agent to international owners, carrying out vessel searches, maritime consultancy, as well as liaising with flag states and classification societies on technical and regulatory matters.
The firm ensures a hands-on approach to every ship registration transaction. Our years of experience in this sector coupled with a long-standing relationship with the management of the Shipping Register enables us to provide a timely, efficient and cost-effective service to our clients and at the same time ensure a smooth ship registration process.
The litigation department at IURIS is composed of a team of experienced advocates who are regularly engaged before the Maltese courts and in arbitration proceedings in Malta on a variety of maritime and shipping disputes, including the enforcement of maritime claims, Section 37A injunction proceedings, the enforcement of foreign judgments and arbitration awards in Malta and attendance and participation at judicial sales by auction of vessels.
IURIS practitioners within the corporate and fiduciary departments further complement the IURIS team with their focus on corporate law and tax law. This specialised, small yet well-knit team is what has enabled IURIS to assist its international clients beyond registration and incorporation, into management and taxation aspects of shipping organisations which are typically used by own ultimate beneficial owners to charter, operate and manage their vessels registered in Malta.
Malta’s offerings to the yacht and super yacht industry go well beyond the possibilities of flag registration. The yachting industry in Malta offers a whole range of services and facilities ranging from the island’s deep natural harbours, its state of the art marinas, extensive refit and repair facilities, a multitude of support shore services and infrastructure, a cluster of local and international operators and skilled service providers together with bunkering operations and supplies.
A number of super yachts have chosen Malta as their base, taking advantage of the location as well as the favourable tax regime which makes registering a new yacht under the Malta flag an attractive proposition. This is complemented with a welcoming approach of the English-speaking locals, which makes visits of the most discerning captains and crew a pleasant experience.
Malta offers Value Added Tax (VAT) benefits to yacht owners when operating or leasing their vessel through a company in Malta and additional benefits for the short-term chartering of yachts to clients of a Maltese company.
IURIS is a member of the Super Yacht Industry Network Malta, which brings together a variety of service providers to the Maltese yachting industry.
SIMON GALEA TESTAFERRATA