Why register offshore

When deciding on which flag state to register your yacht of ship with, it is essential that you choose the most appropriate jurisdiction that can offer you numerous advantages and allow you to meet your personal and financial requirements. Vessel owners are increasingly seeking offshore jurisdictions to register their vessel, due to the vast benefits enjoyed through offshore registration. It is advised that a professional consultancy firm of independent specialist is enlisted to help you with the process of registering your vessel as each maritime registry will have its own procedure and standards in place.

For more information on registering yachts offshore, please view our Marine Services section, or Contact Us to find out how we can assist you.

Reasons for offshore vessel registration

Offshore flag states are widely regarded as favorable locations for vessel registration for a number of reasons. Unlike the more conventional flag states, offshore jurisdictions offer an array of benefits from low taxes, inexpensive registration fees, and favorable maritime legislation. The conditions that offshore jurisdictions provide can enable you to achieve your personal, financial and marine related objectives in a legal and advantageous manner.

Although the advantages for each offshore location will vary, in general vessel owners can enjoy the following benefits:

  • Tax free of low tax status
  • Bespoke legislation and legal support for registered vessels
  • Lower registration costs and renewal fees
  • Exotic location
  • No annual filing requirements expect payment of fees
  • Low VAT rates
  • Flexible requirements i.e. crew
  • International registration recognition
  • Confidentiality and privacy

A professional consultancy firm that specializes in offshore yacht and ship registration can guide you on the most suitable offshore flag state to choose which will allow you to meet your overall goals and remain within your financial boundaries.