How to register a super yacht

The process for registering a super yacht can be made significantly easier when enlisting the services of a professional consultancy firm that specialize in yacht registration in favorable flag states. Owners of super yachts can seek registration in flag states that offer low or zero tax rates and high levels of privacy, however, there are a number of factors that must be considered before selecting the jurisdiction of registration.

Process of registering a super yacht

In order to register a super yacht, there are certain considerations that must be assessed before you select the flag state. Such factors that should be considered include;

  • Whether the yacht is used for commercial or private use
  • Where the owner wishes the yacht to be berthed
  • Paperwork required by the flag state’s marine registry
  • Taxes and fees imposed by flag states
  • The type of asset protection structure you seek
  • Technical, safety and crewing requirements as stipulated by the marine registry
  • Type of marine insurance that must be sought
  • Length and cost of the registration process

The registration procedure for registering a super yacht requires a great deal of initial research into the flag state’s registration costs and other standards that must be met by the yacht and its owner. It is important to consider the intended activity of your super yacht, i.e., if it intends to be berthed for the majority of its time or used for chartering international waters, as this may influence the choice of favorable flat state.

Once you have decided upon the flag state to register your super yacht, you must then commence the registration procedure, which will likely involve the submission of certain due diligence documents, financial statements, and details about the yacht and its owner.

Super yacht owners are advised to enlist the help of a yacht broker or professional consultancy firm that are experienced in all areas of yacht registration in offshore flag states, to guide them every step of the way. Consultancy firms can advise on the best marine insurance policies to adopt and can assist in administering the necessary documentation regarding the yacht specifications, title deed, sale of contract, engine size and the yacht’s country of origin.

Once you have gained approval in the pre-application stage, you will be required to send more information including bank reference letters, copy of your passport and other legal and important documentation. Once the marine registry is satisfied with your application, and the appropriate fees are paid, the yacht owner will then be issued a certificate of registration.