Aircraft Registration Malta

 

The Malta Aircraft Registration Act 2010

The Malta Air Operators Certificate (Malta AOC) and Aircraft Registration Malta Act 2010 consolidates the previously existing laws on aircraft registration. Through the establishment of an ambitious aircraft register and the setting up of the Malta Transportation (Regulatory) Authority, Malta is now also well positioned into one of the EU’s most topical business opportunities.

The Malta Aircraft Registration Act provides for the innovative concept of the registration of aircraft under construction. Such can be registered so long as such aircraft is uniquely identifiable. The Malta Aircraft Registration Act endeavors to limit nationality and form requirements in order to make the register accessible to as many owners and operators as possible, while ensuring that the register is not open to anyone and everyone.

To this effect the Malta Aircraft Registration Act prescribes those persons who are qualified to register an Aircraft whether used for the provision of air services or otherwise. These include:

• Citizens of Malta who have approved residence in Malta and citizens of Member States of the European Union, EEA State or Switzerland. Such individuals must have a place of residence or business in Malta, the European Union (EU), the European Economic Area (EEA) or Switzerland;

• An undertaking formed and existing in accordance with the laws in Malta, a Member State of the European Union, the EEA or Switzerland. In terms of the Malta Aircraft Registration Act, the undertaking must have its registered office, central administration and principal place of business within Malta, the EU, the EEA or Switzerland, whereof not less than 50% of the undertaking is owned and effectively controlled by the Government of Malta or by the Government of any other State of the EU, or by the persons abovementioned in paragraph (a), this requirement ought to be present indirectly or directly through one or more intermediate undertakings.

In accordance with the Malta Aircraft Registration Act, a natural person who does not qualify under paragraphs (a) and (b) above, but is a citizen of or an undertaking established in an approved jurisdiction shall be qualified to register aircraft in construction or one which is not used to provide an air service. This delineates the legislator’s intent to widen the scope of the Malta Aircraft Registration Act and consequently expand the range of those who could register under this law. This extends the possibilities for those owners of aircraft who will be using their aircraft for private use and not for hire or reward as prescribed by the pertinent legislation.

Malta VAT Treatment on Aircraft Leasing

The Maltese VAT Department has also recently launched a new aircraft leasing procedure, making Malta an attractive jurisdiction for aircraft registration for both private and commercial aircraft while ensuring full adherence to EU laws and regulations. The net result from this VAT simplification procedure is that the Malta VAT rate of 18% is only payable on that portion of the lease payment which is deemed to be for the use of the aircraft within EU airspace. The minimum percentage of time that an aircraft could be deemed to be in EU airspace, depending on maximum take off mass, maximum fuel capacity, fuel burn, optimum altitude and cruising speed) is of 30%, thereby resulting in a minimum effective VAT rate of 5.4%. For further information please click here.

The Use of Trusts and Fractional Ownership

The Malta Aircraft Registration Act ensures that when there is a trust relation and the Director General is to “look through” to the identity of the underlying beneficiaries, procedures will be implemented to safeguard the confidentiality of the trust arrangement in line with the principles governing trust law. In this manner, an obligation is imposed on the Director General to ensure that the disclosure for the purpose of Malta aircraft registration does not negatively affect the operation of the trust and its inherent confidential nature.

The new Malta Aircraft Registration Act acknowledges the benefits that will result from the employment of trusts in this field, and specific mention is made of fractional ownership and trusts which could be employed when the ownership/use interests of a plurality of persons (legal or natural) is to be regulated in relation to an asset, the aircraft, by interposing a trust relation. Thus, provision for regulation and co-ordination of the beneficiaries’ rights and interests will be made in the trust deed, which can provide for innumerable arrangements, in line with the contingencies of the case at hand.

The Maltese Aircraft Registration Act ensures that the existence of the trustee, being the registered owner of the aircraft, in favour of the determined beneficiaries (in a fixed trust scenario) or for the benefit of determinable beneficiaries (in a discretionary trust scenario) allows the arrangement to operate in a more streamlined manner whilst permitting the rights of the beneficiaries to be enforced against the trustee in case of default, thus protecting the beneficiaries who would be the stakeholders in this arrangement.

Malta Trust Foundation

 

EMD Business Support Services

It is difficult to get established in a foreign land, but with proper assistance from a genuine firm, you can easily crack the deal. Malta is a small island nation, which is quite favourable and promising for foreign investors. This owing to its lenient and promising tax system that favours investors. Malta is small but still has time again to prove its worth as a potential country when it comes to new business ventures. A new business needs support right from its inception throughout its deployment, and for that EMD provides necessary support services.

Why Malta for Business Relocation?

Malta is one of the most favoured destinations for new business. A large number of foreign investors are keen on establishing or relocating their business to Malta for many reasons and some of the top reasons for Malta Corporation are listed below:

•   Favourable corporate tax system by Maltese jurisdiction
• The workforce and labour in Malta are highly motivated and competitive
• Low labour cost
• The Maltese jurisdiction follows a refundable tax credit scheme as well as double taxation agreements
• Even after being a small island nation, Malta has high standards of infrastructure including commercial, residential, IT, business, and human resources infrastructure
• Malta has a strong and stable economy making it quite favourable for foreign investors

Professional Investor Fund in Malta

In Malta, there are various citizenship and business-related schemes available which again encourages an investor to set up a business here. One of the most popular and widely known schemes is that of the Malta Professional Investor Fund. Also known as PIFs, these are a set of investment-related schemes which come under the Investment Services Act, of 1994. They have fewer regulations in comparison to retail investment schemes and have a minimum investment threshold that is mandatory to achieve. The main benefit or advantage of this investment scheme is that PIFs are exempted from risk spreading and hence are not bothered by any sort of leverage restrictions. The PIF funds can be either managed by an external fund manager or via a self-managed fund. EMD offers all kinds of support services to get complete details and documentation done for PIFs in Malta.

Foundations in Malta

Foundations are not rare in Malta and Malta Trust Foundation has been functional in the country for a very long time from now. Often, trusts and foundations have similar qualities while the mode of operation is what makes them different. There are a set of rules and regulations that must be followed strictly to operate a trust or foundation under Maltese jurisdiction. These usually come under the category of a non-profitable organization serving a social purpose. EMD team provides all details related to the procedure for registering a trust or foundation with ease. You just need to provide the relevant and sufficient papers for registration of the institution.

EMD is out an out-business service provider that offers an array of services including the likes of EMD advocates, EMD advisory, and Malta residence and citizenship. These are offered to a range of business domains including iGaming, finance, IT, and health among others. Hence for the establishment of any kind of business, EMD is the most preferred destination.

EMD aircraft registration services

 Every business needs specific kind of support for is establishment and successful run. Often many small scales or start up industries are in need for more support than already established one. Malta Corporation provides for a helping hand to support entrepreneurs and small-scale industries to get a hold in the competition. One of the most required services in airline sector is the need for appropriate aircraft registration. Malta Aircraft registration provides for a flexibility to all kinds of international flight operators. Such aircrafts are free to stay stable anywhere or operate from anywhere across the globe. Even if a carrier is under construction or maintenance, Malta Aircraft Registration act provides for its registration as well. All these activities are overlooked by efficient team and for their unmatched service and potential, EMD also offers for Covid 19 wage supplement as well.

Advantages of Aircraft registration in Malta

 

The registration act offers an unmatched yet innovative concept of registering the damaged o under construction aircraft until it gets a unique identity. There is no limit to nationality of the owner until and unless the operations are done under permissible law limits. Other key benefits are listed below:

·         As per the law of Malta corporation, non-residents can avail tax refunds which in turn ensures that after registration, transportation of goods to and from Malta will be exempted from Maltese tax

·         Malta is a small yet powerful island nation which is part of the European Union that provides easy flying access in the eurozone allowing a commercial tax-free flying operation

·         The aircraft registration register comes under European Union Aviation Safety Agency or EASA which is legally bound and has some of the highest levels of jurisdiction regulations

·         There I utmost flexibility offered to international operators as the registered flights are free to operate anywhere on the global map

·         The registration act allows flight operators to have a fraction of the ownership rights by single aircraft

EMD is a Maltese based company that offers ample business-related support to every kind of business set up not just limited to aircraft registration. It is a multidisciplinary firm offering services in domains related to legal, tax, advisory and corporate. The trust services of EMD are licensed officially under Malta Financial Services Authority. There are clients from different sectors of the industries and the retention rate is quite satisfactory as well. Malta being a small yet powerful nation is the primary choice for international business. There are different kinds of industries flourishing in the region including the likes of financial services, information technology, advanced manufacturing, remote gaming, shipping, aviation and block chain industry. It is the smallest new part of the European Union that provides for a flourishing competitive edge to successful establishment and running of any kind of business.

Aircraft registration is just a part of the multitude of services offered at the firm. Other business support services include Fintech & Blockchain, Financial Services, iGaming, ICT services, taxation and many more. Be it any kind of business setup- small scale, start up or established MNCs, EMD is undoubtedly a one stop destination for all kinds of support services.