The recent license granted to St Julian’s Maritime Finance to provide non-banking financial services has been welcomed by key stakeholders who see this new development as a clear sign that Malta’s thriving maritime center has been further strengthened.
Malta has become the flag of choice for owners of large yachts in Europe and the Mediterranean. Over the past decades, building on its long and varied maritime tradition, Malta has also developed a very strong legal and regulatory platform which has enabled the Maltese flag to become a reputable international shipping registry, and authority of Malta Financial Services a credible licensing and regulatory body. which completes the shipping register.
St Julian’s Maritime Finance, licensed by the Malta Financial Services Authority, offers a range of client-focused financial services, covering customized and attractive leasing solutions for European yacht owners.
Former HSBC Europe Deputy Managing Director Tony Mahoney is Chairman of the Board of St Julian’s Maritime Finance, having had a highly successful career in banking, first for 27 years at HSBC and then in Oman as CEO of Bank Dhofar, where he formulated and led the “Best in Gulf Plan” which helped transform the bank and led to growth rates of over 20%. Mahoney now chairs automotive, IT and consultancy companies alongside his role at St Julian’s Maritime Finance, which he says gives him great pride.
St Julian’s Maritime Finance Limited offers a one stop shop for yacht services including finance lease and operating solutions as well as complementary services such as vessel registration, crew, maintenance and repair . It provides both “asset-backed financing” as well as registration and other client-specific services. This allows owners to acquire and use their yachts more efficiently and economically.
We occupy a special position in the European market
St Julian’s Maritime Finance is a safe cove for owners looking for the convenience and cost savings of working with yachting and finance professionals.
It offers its customers asset-backed leases: finance leases up to €1 million and operating leases between €1 million and €10 million.
George Vella, Chairman of FinanceMalta, said: “As a maritime nation, over the years Malta has successfully transformed itself into a much sought after yachting location with a range of innovative services supporting it, including this financial product unique newly authorized. FinanceMalta’s role is to promote Malta as an international financial center and this new maritime finance license allows new businesses and networks to grow around it.
Mahoney added: “We are uniquely positioned in the European market, with a licensed financial offering that can be deployed with confidence at multiple levels. Malta’s competitive cost structure has helped the island to be competitive and the corporate structures put yacht owners in a very strong position to profit from their wealth while saving considerably on VAT and other costs associated with ownership of a yacht.
Andrew Massa, Senior Partner, DF Advocates, said: “The professional maritime community in Malta is delighted to learn that St Julian’s Maritime Finance has been granted a license to provide non-banking financial services aimed at providing future yacht owners with a solution alternative financing that will certainly continue to enhance Malta’s status as a hub for superyachts.
Willem Steenkamer, CEO of St Julian’s Maritime Finance, continued: “In recent years, Malta has put in place specific legislation which takes into consideration the particular requirements of the local yacht and superyacht industry, and which also attempts to make the process of registering private and commercial yachts under the flag of Malta an attractive and competitive proposition.
“This is what our new non-banking financial license helps us connect to, offering financing options that simply did not exist before and establishing a pillar of the maritime financial ecosystem of which various stakeholders can benefit.”
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