St Julian\u2019s Maritime Finance’s freshly granted license to provide non-banking financial services has been welcomed by key stakeholders who see this new development as a clear sign that Malta’s flourishing maritime centre has been further strengthened.As is well known in maritime circles, and less well known outside them, 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 that has enabled the Malta Flag to become a reputable international shipping register, and Malta\u2019s financial services authority a credible regulatory and licensing body that complements the shipping register.
\nMalta Financial Services Authority license holders St Julian\u2019s Maritime Finance operate within the marine sector providing a range of client-focused finance services covering customised and attractive financial lease solutions for European yacht owners.
\nFormer HSBC Europe Deputy CEO, Tony Mahoney, is Chair of the Board at St Julian\u2019s Maritime Finance, having had a very successful career in banking, first for 27 years with HSBC, and later in Oman as CEO at Bank Dhofar where he formulated and drove the \u2018Best in Gulf Plan\u2019 that helped transform the bank and led to plus 20% growth rates. Mahoney now chairs automotive, IT and advisory companies alongside his role at St Julian\u2019s Maritime Finance which he says gives him great pride.
\nSt Julian\u2019s Maritime Finance offers a one-stop-shop for yacht services including operating and financial lease solutions as well as complimentary services such as vessel registration, crewing, maintenance, and repair.
\nIt provides both \u201casset backed finance\u201d as well as registration and other client-specific services. This allows owners to acquire and use their yachts in a more efficient and economical manner.
\nSeveral marinas around Malta are situated within the island\u2019s natural inlets which are sheltered in neat creeks that offer protection from harsh weather conditions. Likewise, St Julian\u2019s Maritime Finance is a safe creek for owners seeking the convenience and cost savings of working with yachting and finance professionals.
\nSt Julian\u2019s Maritime Finance provides asset-backed leasing arrangements to clients: financial leasing up to \u20ac1 million and operating leases between \u20ac1 million and \u20ac10 million.
\nCEO Willem Steenkamer (left) and chairman Tony Mahoney (right)
\nTony Mahoney, Chair of St Julian\u2019s Maritime Finance, said: \u201cWe hold a special position in the European market, with a licensed financial offering that can confidently be deployed at multiple levels.
\n\u201cMalta\u2019s competitive cost structure has helped the island to compete and corporate structures put yacht owners in a very strong position to enjoy their wealth while saving considerably on VAT and other costs associated with yacht ownership.\u201d
\nWillem Steenkamer, St Julian\u2019s Maritime Finance CEO, commented: \u201cIn recent years, Malta has put in place specific legislation that takes into consideration the distinctive requirements of the local yacht and superyacht industry, and that also tries to make the process of registering private and commercial yachts under the Malta Flag an attractive and competitive proposition.
\n\u201cThis is what our new nonbanking financial license helps us to plug into, giving options on financing that simply didn\u2019t exist before and putting in place a pillar of the maritime financial ecosystem that various stakeholders can take advantage of.\u201d
\nFor further information visit www.stjmaritime.com
\nThe post New license for St Julian\u2019s Maritime Finance welcomed by Malta\u2019s professional maritime community appeared first on Yachting World.<\/p>\n","protected":false},"excerpt":{"rendered":"
St Julian\u2019s Maritime Finance’s freshly granted license to provide non-banking financial services has been welcomed by key stakeholders who see this new development as a clear sign that Malta’s flourishing maritime centre has been further strengthened.As is well known in … <\/p>\n