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Offshore Yacht Registration
ICD Fiduciaries provides yacht and ship registration services on a worldwide basis. The main benefits of offshore yacht registration includes favorable tax treatment, no minimum tonnages requirements and benefits with VAT arrangements. You will gain significant advantages from our services that are available through properly structured ownership and well completed registration procedures. Widely known offshore jurisdictions such as Liberia, Panama, Madeira, Gibraltar, Jersey, the Isle of Man, Seychelles, Cyprus, Belize, Mauritius and Bahamas have a large fleet of offshore merchant ships and yachts. The initial registration fees are modest and there are no taxes applied on profit.
Offshore yacht Registration under Seychelles flag:
The Seychelles jurisdiction offers an an attractive „offshore” system for the registration of vessels. A citizen or a company registered under the laws of Seychelles must own a yacht in exchange for it to sale under Seychelles flag. If the yacht is not in the territorial waters of Seychelles, it may be temporarily registered under a Seychelles flag at a consular or diplomatic representative abroad. The permanent registration with the Seychelles Ship Registrar will follow later.
Seychelles jurisdictions classification:
Seychelles is a member of the Commonwealth, the United Nations, the Indian Ocean Commission, the group of non-aligned countries and the International Maritime Organization, and ships sailing the Seychelles flag are well treated in the world. The Seychelles currently are recognized and work with the following classification societies for yachts and ships:
- America Bureau of Shipping (USA);
- Bureau Veritas (France);
- Lloyd’s Register of Shipping (UK);
- Det Norske Veritas (Norway);
- Germanischer Lloyd (Germany);
- Nippon Kaiji Ryokai (Japan).
The documents needed for the temporary registration of a yacht:
- Proof of ownership of the yacht,
- A certificate signed by the builder,
- A list of at least 3 alternative names under which the boat is proposed to be registered,
- If the yacht has been registered under the law of a different country, evidence that registration in that country has expired,
- Permanent Registration,
- A radio license.
When a period of 90 days has passed, the yacht can be permanently registered.
In order to complete the process, the yacht owner will have to submit the following documentation:
- A Contract of Sale,
- A Carving and Marking note, issued by the Registrar of Shipping,
- Statutory Certificates,
- An application for permanent registration.
Contact our office for more details and to discuss for appropriate jurisdiction based on your needs.
Discover also:
– Offshore company registration process,
– Who and for what can use an offshore company,
– Shchengen Visa and Residential permit.
– Wealth Management solutions.
