Malta Additional services

Accounting Services

Under Maltese law all companies must prepare accounts and have those accounts audited. Sovereign provides a highly competitive accounts service package that ensures companies avoid penalties by complying with this requirement. The service also includes liaison with the Maltese tax authorities in order to procure any available tax refund.

Aviation Services

Gibraltar-based (RANA) is the aviation division of The Sovereign Group. Combining the experience acquired over 20 years in the field of aircraft registration and offshore company management, RANA offers a complete range of professional and highly tailored services to aircraft owners and operators worldwide.

Bank Accounts

Sovereign is able provide introductions to a number of banks in Malta and elsewhere in the world with which we have long-term relationships. Sovereign can also assist with account opening procedures.

Insurance Services

Insurance is one of the most effective ways to manage risks and protect your assets, and is a vital part of the wealth management process. Gibraltar-based Sovereign Insurance Services (SIS) provides a full range of insurance broking services – from home, contents, travel, accident and life cover through to more complex products such as “key man”, professional indemnity and kidnap and ransom cover – at the most competitive pricing levels available in the international insurance markets. SIS is licensed by the Gibraltar Financial Services Commission to act as an insurance intermediary for general insurance business within the European Economic Area (EEA) but also has strategic partnership arrangements with a series of underwriters and brokers throughout the international insurance community so as to be able to meet a client’s insurance requirements anywhere in the world.

International Tax Planning

It is relatively straightforward to set up or purchase a company but it is vital to get proper advice on how to structure the ownership of that company, how it should be administered and how to organise its commercial arrangements. Every case is different and a high level of expertise is required to ensure that the advice is up-to-date, effective and fully compliant. Once we have understood your personal and business requirements, Sovereign is in a unique position, through its global network of offices, to advise on a suitable structure which will meet those needs and should result in significant tax savings.

Marine Services

Malta is one of the most popular jurisdictions for yacht registration. A solid legal framework, attractive incentives to yacht owners and operators, and a strong maritime tradition have all contributed to Malta becoming the largest maritime flag in Europe and the seventh largest in the world. All kinds of vessels, from large cruise liners and tankers to private yachts, can register under the Maltese flag.

Depending on their intended use, yachts can be registered under the Malta Flag either as a private pleasure yacht or as a commercial yacht. Under the VAT on Yacht Leasing regulations 2006, only a percentage of the lease value is subject to VAT. Depending on the length and type of yacht, the effective rate of VAT will vary from 5.4% to 9% of the lease value.

Yachts used on a commercial basis are registered as commercial yachts with the Maltese Commercial Yacht Register. Companies operating commercial yachts are also exempt from income tax on any income derived from the operation of such yachts.

Gibraltar-based (RAY) is the marine division of the Sovereign Group. It was formed in 2000 to provide marine corporate and administration services to yacht owners, as well as to maritime law firms, yacht managers and brokers and other professional firms involved in the yachting industry. Initially established to register vessels under the British Red Ensign, RAY is now registering, administering and managing yachts – both pleasure and commercial – on a worldwide basis.

Nominee Shareholder Services

A minimum of two shareholders is required (unless a single member company is opted for). Shareholders may be corporate or individual. Details of the shareholders appear on public file, however licensed trust companies are permitted to hold shares on a fiduciary basis. Sovereign Trust (Malta) Limited is licensed by the Malta Financial Services Authority to provide nominee shareholding services to its clients.

Overseas Property Ownership

Sovereign assists many of its clients with the acquisition of real estate worldwide. We advise on tax and structuring and can manage the transaction process and financing arrangements. With our regional knowledge of property ownership laws and regulations, along with our tax planning expertise, we can help you reduce any potential exposure. Most people who own or intend to own property abroad will not be fully conversant with local legal procedures or taxes – stamp duties, municipal and wealth taxes – and may not fully recognise the longer term implications in terms of potential exposures to capital gains tax, inheritance tax or forced heirship rules. Substantial benefits may be derived through the use of corporate, trust or foundation structures to address these issues.

Payroll Services

By outsourcing your payroll you can free up your valuable time and resources to concentrate on the important business of running your company. Sovereign can provide a comprehensive yet flexible outsourced payroll service tailored to each of our client’s specific requirements.

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Sovereign Trust (Gibraltar) Limited
Tel: +350 200 76173