Why Malta makes sense

Malta’s value as a base for superyachts is well-known. Strategically positioned between Sicily and North Africa in the central Mediterranean, it has long been an important yachting centre and for the owner of the 77m M/Y Samar, this country is the natural choice of homeport for his yacht as well as his upcoming new build, which is currently in the planning stages. Having been the owner of a 90m berth at Grand Harbour Marina for a while now, last month he upgraded to a 100m berth and purchased an additional 60m berth option at the marina. The Superyacht Owner talks to Samar’s captain about why the owner thinks this little nation makes sense as a homeport and why he has decided to reinvest in Malta.

Location

“Malta is located at the centre of the Mediterranean and is a real gateway to either the East or West,” says the captain. “For owners travelling to and from the Middle East, Malta can be reached easily, and even a return flight in the same day if desired.” Almost any location in the entire Mediterranean can be reached within two and a half days, with most cruising areas less than one and a half days steaming.



Climate

Malta’s climate is strongly influenced by the sea and it is typical of the Mediterranean. The islands have a very sunny climate with a daily average of five to six hours sunshine in mid-winter to around 12 hours in summer. Winters are mild, with the occasional short chilly period brought about by the north and northeasterly winds from central Europe.

Yacht-friendly Politics

Malta offers all the benefits of being within the EU. However, crucially, the maritime sector is extremely important to the Maltese economy, with Malta having the EU’s largest fleet under its flag. “One of the biggest advantages [over traditionally popular parts in the Mediterranean] is the friendly government attitude toward yachts and yachting crew,” explains the captain. “Maltese governments have been reliably friendly in respect of taxation and regulation of yachts.” Because of this, a stable long-term yacht-friendly environment can be expected, with good direct access to government at senior levels. VAT is also lower than in the UK and Ireland and there is also special taxation treatment for UHNWI individuals.



The Culture

Malta offers captains, crew and their families western standards of health care, education and accommodation, with easy international communications, a low cost of living and significant tax benefits. “English as a primary language is very helpful,” the captain says. “Equally important is the friendly attitude of the local population and the safety factor of Malta society. Compared to other locations, crew and guests are very safe in Malta.” English-speaking Malta retains strong west European traditions and institutions, making it an ideal alternative location to the more crowded and increasingly expensive ports of the western Mediterranean. Its low cost of living, low crime rate and European-style infrastructure serve to increase its attractiveness.



Berthing

Traditionally, Malta’s weakness has been the shortage of available berths but over the last few years there has been a big move to improve this. According to the captain, the owner of Samar chose Grand Harbour Marina as it offers good value, being materially less expensive than most equivalent marinas. Safe in all weathers, IPS certified with generous easy-to-access berths that can include suitable areas for tenders, seaplanes and other support craft, the marina is beautifully located in the historic Grand Harbour and is bordered by the three Cities and Fort St Angelo, with many buildings dating to the 16th Century and earlier.

---

Click here to become part of The Superyacht Group community, and join us in our mission to make this industry accessible to all, and prosperous for the long-term. We are offering access to the superyacht industry’s most comprehensive and longstanding archive of business-critical information, as well as a comprehensive, real-time superyacht fleet database, for just £10 per month, because we are One Industry with One Mission. Sign up here.