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Boat Registration
Belize Boat Registration	Vanuatu Boat Registration	Cayman Islands Yacht Registration

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Cayman Island Offshore Yacht / Boat Registration :

A Cayman registered vessel owned by a Cayman company enjoys all the privileges afforded to the British Flag and full international recognition while benefiting from the tax free status and confidentiality laws of the Cayman Islands.

The Cayman Islands offers important advantages to larger vessels. Pleasure craft of any size are exempt from requirement of recurrent surveys on vessels over 13.7m and 24m and exempt of strict laws affecting manning of vessels over 80 GRT.

Private chartering is acceptable. With respect to larger vessels, the Cayman Islands will be endorsing the MCA mega yacht code for vessels over 24m, engaged in chartering but carrying 12 or less passengers. The Cayman Islands Shipping Registry provide support to help with the implementation of the regulations.

Requirements

For a Ship to be registered in the Cayman Islands the following conditions must be complied with :

The owner must be British or EC citizen or be an individual or company in specified British dependencies e.g. Cayman, Gibraltar, Isle of Man, Bermuda, etc. Ownership requires only 33/64 or more to be "British". It should be noted that a Cayman company regardless of nationality of its beneficial owners would qualify as a "British" owner.

The owners are required to appoint a local representative agent as a point of contact with the Registrar of Ships.

The ship is subject to survey by the Marine survey department to ensure compliance with international standards.

The ship requires a Safe Manning Certificate and the three senior officers (Master, Chief Officer and Chief Engineer) require either British certificates or appropriate certificates considered the equivalent - certificates from certain Commonwealth countries or from NATO or EEC countries.

UK and other EC citizens are able to register yachts in the Cayman Islands in their own names. This avoids the expense of forming and maintaining a yacht owning company. However, incorporation of a company does secure limited liability whereas an individual owner risks the consequences of unlimited liability. Limitation of owner's liability is especially important where the yacht is to carry passengers, either as guests or by charter. A limited liability company is the normal structure used. The governing law of the companies, however, determines its effectiveness.

If privacy is likely to be required, either now or in the future, then our nominee company should hold shares in ordinary companies from the outset. We, in turn, issue a nominee agreement giving beneficial owners access to their shares on demand. In this way, the register of members (shareholders of record) will not disclose the names of the beneficial owners, should someone wish to invoke a discovery of assets.

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Cayman Benefits

The benefits of registering in the Cayman Islands are as follows :

	Manning restrictions are less onerous than for other British dependencies, while still providing the benefits of flying under the Red Ensign Flag.
	Red ensign flag entitles ships to the protection of the Royal Navy.
	Full assistance of the British consular service worldwide, which is especially useful in connection with crew matters.
	Absence of exchange controls
	No income, corporate or capital gains taxes exist in the Cayman islands. (i) Political stability and full British

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Registration

The benefits of registering in the Cayman Islands are as follows :

Appointment of authorized officers.

Form GSR 342 - approval of the ship's name.

Application to register, either by the owner or his agent, who is authorized in writing, and under the company seal in the case of company ownership.

Title documents

Certificate of survey - to be organized through the Marine Survey department, using classification societies, if necessary, in the short term. Survey fees are US$80 per hour plus surveyors travelling expenses.

Declaration of ownership

On registration the Registrar allocates an official number to the vessel and issues a carving and Marking Note to the surveyor. Where required the Registrar will also assign the international call sign.

	Fee Schedule
Yacht Registration :
	Government Fees - Yacht Registration			US$
	Yacht Registration Fee	Up to	1500 GRT	634.00
	Annual Tonnage Fees	Up to	200 GRT	73.00
		Thereafter, up to	1000 GRT	0.3659/GRT
		Thereafter, over	1000 GRT	0.1220/GRT
Annual tonnage fees are pro-rated quarterly for the balance of first calendar year of registration.
`	Miscellaneous Fees			US$
	Annual Radio Station License			12.00
	Registration of a Bill Of Sale/Mortgage (recording, transfer, or discharge):		Up to 1500 GRT	195.00

	Company Registration
	Government Fees - Company Registration	authorized share capital not exceeding
		Over US$2m	US$2m	US$51,000
	Registration Fee			US$
	Exempted Company	1,750.00	700.00	500.00
	Ordinary Non-Resident Company	600.00	600.00	427.00
	Ordinary Company	305.00	305.00	183.00
	Foreign Company (registered to operate in Cayman Islands)	1,037.00	1,037.00	1,037.00
Annual Fee
`	Exempted Company	1,750.00	700.00	500.00
	Ordinary Non-Resident Company	600.00	600.00	427.00
	Ordinary Company	305.00	305.00	183.00
	Foreign Company	610.00	610.00	610.00

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Only the Registration fee is paid during the first calendar year of registration. Annual Fees are payable in January of each subsequent year. It is not necessary to issue all shares authorized. However, some owners prefer to limit authorized share capital to, say, US$2,000 and issue all shares. All classes of company listed above can own yachts. Exempted companies offer more privacy than ordinary companies.

	OUR FEES
	Registration Of Company And Yacht	Euro
	Company formation, legal fees, subscribers' meetings, etc.		US$
	Setting up the registered office, corporate records, meetings, statutory returns, client liaison, etc. approx.		500.00
	Miscellaneous disbursements such as photocopies, company seal and stamp dues, approx.		600.00
	Registration of one vessel, including documentation, associated company work and client liaison, approx.		150.00
	Foreign Company (registered to operate in Cayman Islands)1,037.001,037.00		1,900.00
Annual Management Fee
	Maintaining registered office, company records, secretary, nominees, etc. payable in advance, base fee		750.00
Annual Management Fee
	(not including any Government annual fees payable during first year).		Euro
	Yacht registration with an ordinary company		5,000.00
	Yacht registration with an exempted company		183.00

For an application form, or for any questions you have, please email us at mailto:OffshoreGo@safe-mail.net?subject=Cayman Yacht Registration remembering to tell us which service you require.