Following lengthy discussions, the European Union and the United Kingdom signed the Trade and Cooperation Agreement on 24 December 2020; thus allowing both territories to start a new path of joint and mutual collaboration.
From a shipping perspective, one of the many uncertainties linked with the post-Brexit period, related to the possibility for UK citizens to continue owning a Malta registered yacht. In fact, Maltese laws allow any EU, EEA and Swiss citizens to own a Malta flagged vessel or yacht. Should these not be resident in Malta, they would be required to appoint a local resident agent in accordance with Maltese laws.
Maltese authorities, through legal notice 466 of 2020 extended such possibility also to UK citizens residing or not in Malta. Such legal notice, although not totally unexpected, has been welcomed by many with great enthusiasm. This, in fact, allows Malta to continue serving all those UK citizens which, for so many years, took advantage of the Malta flag and its solid and yet flexible regulatory framework.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
