canadian purchase boat in Malta

[mrmagoo777]

Hello Sailers. Need advice. For me to purchase the boat registered in uk by uk citizen, Register in Malta. Do i just go to Transport Malta and check for encumrances, Get civil declatation status, Declaration of ownership at transport Malta in front of commissioner of oaths? Also do i need a lawyer to hold and pay funds to owner. Law firm wants 3900 euro to do it! Double that almost for canadian currency... Advise please.

[gabilo]

Originally Posted by mrmagoo777

Hello Sailers. Need advice. For me to purchase the boat registered in uk by uk citizen, Register in Malta. Do i just go to Transport Malta and check for encumrances, Get civil declatation status, Declaration of ownership at transport Malta in front of commissioner of oaths? Also do i need a lawyer to hold and pay funds to owner. Law firm wants 3900 euro to do it! Double that almost for canadian currency... Advise please.

If you take up Maltese residency costs are quite low... without residency you need to engage an residence agent ...

Apart from that, everything is straight forward ... make a purchase agreement with the buyer, pay, receive the documentation... with this you go to transport Malta or hand everything to the agent.
Provisional certification is valued for 6 months ... thereafter yearly renewal (payment of the fees)

You can also register the boat in Canada if you prefer

I have gone through the same process a while ago. PM me for further details.

[mrmagoo777]

Hi, Thank You, So make sure all paper work done first at Transport Malta, No liens etc? What are yearly residency costs/And how to Get Residency? What are the costs for that? Stephen.

[Uricanejack]

3900 sound like a lot.

I used an American title transfer co. For about 500 for a boat in US. Turns out boat had a lien on it. The title co ensured the lien was lifted. Not particularly unusual the prev owner had a mortgage on the boat which needed cleared to clear the title.
I decided the cost of a title company was worth it to protect my money on an international purchase. They took care of getting it done right and the boat registered with title in my name.
Malta is probably reputable. I would worry enough to pay the cost of getting it done right. Simply because I couldn’t afford to loose the price of a boat if it went wrong.

If the deal gets to complicated is it worth making?

[mrmagoo777]

Hi, Name of company in U.S? They can do Malta purchase. Just the cost of Malta law firms insane. Cost me 6-7,000 canadian .. Thank you, Stephen. Deletion of flag from U.K. TO Register in Malta also. Going to get my boots on the ground.

[hamburking]

I'm also Canadian, and looking for my next boat.

Just curious why you wouldn't want to register the boat in Canada. Fees are modest (a few hundred, cdn) and no tax incurred unless you actually bring the boat into Canada. I have found the Canadian Registrar of ships to be very helpful when problems come up.

[boatman61]

Originally Posted by mrmagoo777

Hi, Name of company in U.S? They can do Malta purchase. Just the cost of Malta law firms insane. Cost me 6-7,000 canadian .. Thank you, Stephen. Deletion of flag from U.K. TO Register in Malta also. Going to get my boots on the ground.

The owner of the boat you bought should have already sent back the registration to be deleted if he's followed the rules.
If the registration number on the boat is preceded by SSR I would not stress about it at all, just go ahead with your new registration.. they don't send any letter/note of deregistration.. its most likely an SSR, the cheapest and easiest UK registration and does not prove ownership.