Sarnia Opens Malta Office

Sarnia Yachts, one of the largest yacht fiduciaries in Europe, has opened a new office in Malta.

The company’s headquarters in Guernsey will work seamlessly with the Malta team to offer yacht operation, ownership and administration services.

The new office will establish and administer Maltese companies, handle Maltese flag registrations, offer VAT administration, Maltese Leasing and other locally-based services for both private and commercial yachts.

Having a team on the ground in Malta also provides additional support for the many yachts that are required to visit Malta. The new office in Floriana, close to Grand Harbour, will allow Sarnia to give a personal service to clients and captains during their visits to Malta and ensure that the yacht can depart promptly.

Patrick Spiteri has been appointed Managing Director of Sarnia Yachts (Malta) Limited. His fiduciary background extends to tax compliance and structure solutions across several European jurisdictions.

‘Sarnia has been providing a range of Maltese services for many years and as the Malta business has grown it became necessary to have our own licensed operation based there,’ explains Bruce Maltwood, Business Development Director.

‘The quality of our service is paramount to Sarnia and our clients, so having our team in Malta ensures we can provide the same high standard of client service that we have delivered from Guernsey for the past 45 years. We’ve always been a specialist marine fiduciary and with our focus only on the yachting industry, having a presence in Malta makes sense.’

Malta is geographically well-positioned in the central Mediterranean for yachts transiting between East and West and has extended its already well-known and well-regarded shipping registry and legislation to become one of the most popular flag states for EU-flagged yachts.

Sarnia has over 40 years of experience in yacht ownership and operational services. Between the two offices, 30 staff provide a diverse and flexible range of services including yacht administration, VAT management, flag registration, crew employment and payroll and corporate yacht ownership.

Alasdair Milroy, Managing Director comments: ‘The extension of Sarnia’s business into Malta is an exciting step. We continue to expand but will always remain focused on customer service. Malta offers many attractive options for both commercial and private owners and Sarnia continues to offer the specialist yacht services it has always been known for, with the added convenience of two locations.’

This article was originally published on www.sarniayachts.com. Sarnia Yachts was acquired by Praxis Group in July 2023 and is now trading as Praxis Yacht Services.

Please note that this article is intended to provide a general overview of the matters to which it relates. It is not intended as professional advice and should not be relied upon as such. Any engagement in respect of our professional services is subject to our standard terms and conditions of business and the provision of all necessary due diligence. © Praxis 2023