Vessels so registered enjoy the same rights and privileges, and have the same obligations as any other ship registered under the Malta flag.

Bareboat Charter Registration of a foreign registered Ship in the Maltese Bareboat Charter Ship Registry may be effected for a maximum period of two (2) years in accordance with the expiry date of the consent of the underlying registry but provided that the agreement covers the period. Registration may be extended.

Bareboat Charter Registration of a Maltese registered ship in a foreign  ship registry may be effected on obtaining the Consent of the Registrar of Shipping to that effect, which Consent will be forthcoming upon satisfaction of the following particular requirements, namely:

1. Evidence of Compatibility of Foreign Registry (where applicable)
2. Consent of Registered Owners
3. Application to Registrar by Owners for permission to bareboat charter register the ship in a foreign registry
4. Undertaking by Owners to surrender the Certificate of Malta Registry to the Registrar within 30 days from the entry of the ship in the foreign bareboat charter registry
5. Undertaking by  Charterers in favour of the Maltese Registrar confirming that the Maltese maritime flag will not be hoisted on the ship for the duration of the bareboat charter registration of the ship in the foreign registry
6. Mortgagees’ Consent (where applicable)
7. Copy of the Charter party Agreement.

Following the bareboat charter registration of the ship in the particular compatible foreign registry, the following obligations towards the Maltese Registrar of Shipping are to be fulfilled, namely:

1. The Carving and Marking Note issued by the Maltese Registry indicating the Home Port of the foreign registry is to be returned duly endorsed by the Classification Society within 15 days.
2. The Certificate of Malta Registry must be surrendered within 30 days.
3. A transcript of Registry or an Extract evidencing the foreign charter registration of the ship is to be provided within 30 days.