The Aircraft Registration Malta Act was introduced on 1st October, 2010 and it was designed to regulate registration as well as enforcement of aircraft mortgages in Malta. The country’s location in the center of the Mediterranean Sea has given it strategic importance. Moreover, other aviation services are also offered in the country, which include finance and management of aircraft, insurance, brokerage, aircraft maintenance, classification and surveying of aircraft.
If you are thinking about registering your aircraft in Malta and are unsure about it, there are several benefits that you can enjoy. Some of these are highlighted below:
- The corporate tax system in Malta is a rather impressive one and this allows you to keep your tax liabilities under control. The legislative framework is pretty strong and double taxation treaties also exist, which can help you save a significant sum in taxes.
- If the lessor is not a Maltese residents, you don’t have to pay any withholding taxes on the lease payments received.
- There are lots of registration possibilities associated with aircraft registration in Malta when you are not using it for commercial purposes.
- Another benefit of registering your aircraft in Malta is that there is transparency of rights and interests in the aircraft.
- When you decide to register your aircraft in Malta, you can also record a number of details relating to the aircraft, along with its ownership and any other essential details.
- Registering your aircraft in Malta is also a good choice because the country has implemented excellent standards of security and safety.
- Malta also recognizes fractional ownership, as per the law, which means that the aircraft’s title can be divided amongst co-owners in specific fractions or percentages.
These are excellent reasons why anyone would want to register their aircraft in Malta.