Registration of yachts

Registration of yachts, ships

Flag registration is one of the most important issues faced by the owner of a yacht or vessel. Our company offers a full range of legal and consulting services in this area. We will provide professional legal assistance in registering a vessel, under the national flag and under the “convenient” flag of a foreign state. Traditionally, these include the flags of the Cayman Islands, the Marshall Islands, the Cook Islands, the British Virgin Islands, the Bahamas and other well-known offshore jurisdictions. When choosing a flag, many factors must be taken into account, including the personal residence of the owner of the yacht/vessel, the intended area of ​​navigation, taxes, duties and the specifics of the Flag Register itself.

FORTTRADE specialists will help you choose the best Flag Register for your purposes and register your yacht/vessel.

Also, due to the fact that many yachts spend most of their time in the Mediterranean, more and more shipowners prefer to use European flags. Among the “comfortable” flags of Europe, there is a stable top three: the Netherlands, Malta and Cyprus. Of course, registration in these countries takes more time than in offshore zones, often requiring the registration of a company for ownership (for example, in Malta, either a European company or an individual who is a citizen of the European Economic Area can own a vessel), and generally increases the costs of Yacht maintenance. However, for yachts located predominantly in the Mediterranean basin, registration in one of the European countries will make it easier for owners to pass inspections in terms of logistics, as well as avoid aggressive tax planning in the form of VAT avoidance.