Local and foreign enterprisers who want to establish companies in Malta can choose between various economic sectors which are on the rise currently. Among them, agriculture has started to gain the attention of foreign investors. One of the most prolific branches of the agriculture industry is fishing as Malta has a good exposure to the Mediterranean Sea.
Investors who want to open fishing companies in Malta must comply with the local regulations imposed by the government through the Department of Fisheries and Aquaculture in the country. A special license is also required in order to start fishing activities in Malta. Our Maltese company formation advisors can offer information on the legislation governing the fishing sector.
Company and boat registration when opening a fishing business in Malta
The first requirement to set up a business in the fishing sector in Malta is to register a company with the Trade Register. The limited liability company is the most employed type of structure for carrying out fishing activities here. Following the company incorporation process, the Maltese fishing company must purchase the vessel or vessels it will use to carry out its undertakings. These must also undergo registration with the Fishing Vessel Register.
It must be taken into account that fishing boats are classified into the following categories:
- – MFA vessels;
- – MFB vessels;
- – MFC vessels;
- – MFD vessels.
These categories related to the type of activities the fishing companies undertake. Our company formation agents in Malta can explain what these activities are.
Obtaining a fishing license in Malta
After registering the company and the vessels used for fishing activities in Malta, the company representatives must apply for a fishing license which is issued by the Department of Fisheries. The fishing license will specify the type of seafood to be caught, the methods used, but also the size of the fish and other seafood. Also, fishing companies in Malta must comply with the restriction periods for catching certain species.
For full information on the legislation related to fishing in Malta, do not hesitate to contact us. You can rely on us for assistance with the company incorporation procedure in Malta.