Maritime
At GMX we represent the full spectrum of those involved in the maritime industry, be they offshore, ship and/or yacht owners, charterers, P&I Clubs, banks, yards, marine insurance underwriters, governments and brokers. Maritime law remains very much at the core of our profession at GMX. We understand that night or day, the industry is at work. It is for this reason that GMX set up an emergency response team which is available around the clock.
The firm also has a very strong superyacht portfolio. Considering Malta’s strategic location at the centre of the Mediterranean, it is little wonder how the yachting industry has flourished. The Maltese islands have developed in the ideal holiday destination for yachting enthusiasts as well as a cost effective location for winterisation. Eager to capitalise on the natural beauty of the islands the Maltese authorities have developed a structure whereby individuals may acquire a pleasure yacht with a VAT-paid status at very favourable rates. The same structure was also rolled out for yacht charters commencing in Malta. In the latter case favourable VAT rates are applicable on charter hire, which act as a great incentive for private hires.
At GMX we are at hand to provide the following services, amongst others:
- Arrest of vessels;
- Enforcement of claims against Malta-registered vessels and vessels situated within Maltese territorial waters, including Judicial Sale by Auctions and Court Approved Private Sales;
- Co-ordination of vessel financing transactions, preparation and review of loan agreements, security agreements, statutory mortgages, collateral deeds of covenants, issuing of legal opinions;
- Handling of on-going crewing and compliance formalities with the relevant Maltese authorities;
- Registration, transfer and deletion of vessels under the Malta flag;
- Registration of bareboat charters under the Malta flag;
- Registration, amendment, transfer and discharge of statutory mortgage deeds registered over Malta-registered vessels;
- Searches of the Malta ship register and yacht register;
- Searches of Maltese ship-owning entities and yacht-owning entities;
- Structuring and implementation of vessel re-finance transactions.
