As yachts and vessels continue to flock to the Malta attracted by beautiful cruising grounds, the abundance of yacht and ship services, excellent marinas and a great service ethic, the island now has another string to their bow.
Warehousing and Stock Management
A bonded warehouse permits indefinite storage of goods in transit from outside the European Union, without paying import taxes. It’s a perfect solution for storing high value, low rotation goods, goods in transit, or for companies needing stock in the Maltese Islands to avoid long delivery times for items coming from abroad.
It’s also a useful service for logistics companies who need to import, for example, materials or spares from non-EU countries to repair a boat in a Maltese port or shipyard.
What can be Stored in a Bonded Warehouse?
Essentially a bonded warehouse can be used for any type of goods arriving in transit from outside the EU, or with a special customs certification subject to tax suspension, including tenders, spare parts, containers, furniture, art, and the owner’s personal belongings. Generally anything and everything! There are certain procedures for goods under special classification, such as those subject to sanitary inspection, and pharmaceutical items cannot be included in this tax suspension category as they are subject to different clearance procedures.
The Benefits of a Bonded Warehouse:
- Items can be stored indefinitely without payment of customs duties. Goods are stored until the client needs them to be imported into Malta, transported or shipped to another non-EU destination. This process facilitates the re-exportation of goods without much financial expenditure because the imported goods intended for re-export are kept in the warehouse.
- In case of a change of schedule, the imported goods can be held safely, securely and indefinitely until delivery to the vessel can be completed.
- The importer may inventory, sort or repackage goods while held in the facilities and minor repairs/works can be carried out on site with prior notification.
- The importer can execute the sale of goods or transfer the title of goods by endorsing the warehouse receipts, thus enabling further savings on the part of the importer.
- Goods kept in the bonded warehouse can be used as collateral security for a bank loan.
And of course, a major benefit is the ability for vessels to store their goods without paying the usual import taxes.
More than that, it’s a solution for moving items from a non-EU zone into the EU and storing items in a convenient and safe space. It also serves as a holding area in the event that a vessel encounters delays or complications with itineraries and cannot take receipt themselves at the scheduled time.
One Step Ahead in Yacht Management Services
Our marine expertise and local knowledge are at your disposal to ensure you enjoy all the advantages and support you need while cruising in Maltese waters. We offer a full range of services including Provisioning, Deck & Engineering Supplies, Spare Parts, Interior Supplies, Logistics, and Customs.