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Shipping & Aviation

Malta Flag Mortgages

A ship registered in Malta, including all its equipment, machinery and other accessories may be put up as security for a loan by way of mortgage. Such a mortgage over a Maltese ship may be recorded in the Maltese register as soon as the vessel is registered. Transfer and discharge of mortgages may be effected immediately on presentation of the relative documents.

Maltese mortgages provide good security for banks and other financial institutions because, inter alia:

In case of default on behalf of the mortgagor, the mortgagee is entitled:

Foreign mortgages are recognised and granted the same status as mortgages under the Maltese Shipping Act provided such foreign mortgages are validly recorded in terms of the relevant foreign law and certain other conditions are fulfilled.