Panama Ship Registration
Panama is famous for being one of the best place in the world to register ships. Once you apply on a Panama ship register service, ship owners will have the advantage of tax breaks that Panamanian law offers within the Panama Maritime Authorities and legislation. This is applicable to ship owners, boat owners, yacht owners or sailboat owners. The Panama register of ships will also allow ships to operate international trade without taxation as its only territorial and will not tax the income of ships involved in international navigation or trade. The Panama ship register will not discriminate the citizenship or nationality of anyone willing to register a vessel under the Panama Flag
Advantages of Panama Registry
- largest ship registry in the world (ships, boats, vessels)
- allows ships and vessels be registered indefinitely
- less expensive to register ship as a Panama vessel
- Panama can register a vessel as old as 25 years
- no minimum tonnage to register a vessel under Panama flag
Marshall Islands Ship Registration
To register any vessel or ship under the Marshall Islands flag, you need to be a Marshall Islands business entity such as a corporation, general or limited partnership, or limited liability company. An existing foreign entity may however also be used by being registered as a Foreign Maritime Entity in the Republic of Marshall Islands.
Advantages of Marshall Islands Registry
- Globally recognized for professionalism, contributions to the safety and security of shipping and efforts to protect the marine environment
- Third largest ship registry in the world
Belize Ship Registration
Belize is also a popular place of ship registration. Located in the Caribbean, this country offers a lot of advantages and benefits for those who decide to register under Belize flag. For example, there are no requirements concerning local ownership or participation in ownership, in order to apply for registration of a vessel in Belize. The Registry is open to any type, class, or size of vessel used for navigation that is engaged in any lawful trade, service or international maritime activity.
Advantages of Belize Registry
- Fast and reliable
- Worldwide network of Deputy Registrars in major maritime centers
- Worldwide network of General Safety Inspectors to conduct inspections to verify compliance with international standards
- Competitive tonnage taxes, fees and discount incentives
- Well established legal system and mortgage recording system
BVI (only yachts) Registration
BVI Registry is a member of the Red Ensign Group. Ships flying under BVI Flag are entitled to British Diplomatic / Consular support and Royal Navy Protection
Advantages of BVI Registry
- Low Initial Registration & Annual Maintenance fees.
- Registry is specialized in Yacht registration and Certificates are recognized worldwide.
- Political and social stability in BVI and British Judicial System.
- BVI is the Yachting Mecca of the Caribbean, equipped with modern state-of-the -art facilities, berths, accommodation, supplies and services.
- Prompt, courteous and efficient service. Fully computerized Fleet Management System and Database.
- BVI is recognized worldwide as a reputable offshore financial centre, leading the world in company formation and related corporate services.
Bahamas Ship Registration
The Bahamas ship register is the flag of choice for many top quality ship owners. It is a popular registry and has one of the world’s largest Registers with over 50 million gross tons of ships flying the Bahamas Flag.
The Bahamas ship registry is known for high standards that are maintained on Bahamian flag vessels as well as a clean maritime environment.
Advantages of Bahamas Ship Registry
- Its reputation of quality and excellence. The Bahamas registry is popular amongst all types of vessels to register while ensuring the highest international standards.
- It has a young fleet. The registration of older vessels is actively discouraged and ships over 12 years old are only admitted if they meet exceptional criteria.
- Foreigners can hold direct title to a Bahamian vessel. As long as a vessel is engaged in “foreign going trade” engaged in trade that is not exclusively within The Islands of The Bahamas or between The Bahamas and the East Coast of Florida, a foreign owner, irrespective of nationality or place of incorporation, can hold title to a Bahamian flag vessel either directly or through a corporate entity. Furthermore any vessel of 1600 or more net tonnage regardless of the nationality of her owners may also be registered as a home trade ship with the express permission of the Minister responsible for Maritime Affairs.
- Tax Exemptions. The Bahamas does not impose any tax on income, capital gains or similar financial revenues. Therefore, the operation or income of a Bahamian- registered vessel or any capital gain on her sale is tax-free in The Bahamas. Foreign owned vessels of more than 150 GRT are also exempt from Bahamas custom duties and documentary stamp taxes, whether they call at local ports or not.
St.Kittys and Nevis Ship Registration
The St. Kitts and Nevis ship registry has no restrictions on ownership of St. Kitts and Nevis ships. It is available and accessible to local and foreign corporations and individuals and any type of ship, including yachts, non-propelled barges, rigs and ships under bareboat charter.
Advantages of St. Kittys Registry
- Worldwide Network of Maritime Registrars and other registration offices for local contact by Owners
- No restriction on ownership of vessel – St. Kitts & Nevis company not required, though using one will result in a lower registration fee
- No restriction on nationality of Master, Officers and Crew on board
- Central control of registration and issuing of documents
- Rapid turn around of enquiries and applications
- Competitive fee structure – no ‘hidden extras’
- Convenient location of Head Office for World Wide time zones
- Individuals or corporate bodies can be owners
- Recourse to a well established legal system based on English Law
- Registration under ownership, bareboat charter and for ships under construction