Yacht Registration

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Yacht Registration in the Marshall Islands

The Marshall Islands ship registry (the Registry) program provides yacht registration in a highly reputable jurisdiction that complies fully with the internationally adopted standards of the International Maritime Organization (IMO). International lending institutions, shipbuilders, and ports have recognized and maintained full confidence in the Marshall Islands vessel registration, documentation, and preferred ship mortgage recordation standards and procedures. It is this adherence to standards and stellar reputation that has made the Marshall Islands Registry the fourth largest open registry in the world.

To qualify as a private yacht in the Marshall Islands Registry, the yacht must not be on charter for more than 84 days per year or carry more than twelve (12) passengers for hire. It cannot be engaged in trade or commerce and it is used solely for the pleasure or recreational purposes of its owner. registration of private yachts is generally limited to those of 12 meters or more.

There are two registration periods for yacht registrations. The owner of the yacht may register for a one (1) year annual registration, where the owner must renew his/her yacht registration on an annual basis. Alternatively a three (3) year registration is available, freeing the owner from annual filings and also providing for a reduction in costs from the annual registration.

By registering a yacht with the Marshalls Islands, the owner of the yacht has significant practical attributes and services available. These services include:

* Mortgage recordation and documentation: this service allows for the continuation of the preferred status of the mortgage in the present country of registry without interruption.

* Vessel inspection: the Registry has mandatory classification and statutory surveys, certification systems, and annual operational safety inspections recognized by the Maritime Administration as being in full compliance with IMO resolutions.

* Radio station licensing: availability of ship radio station licenses based on the International Convention for the Safety of Life at Sea (SOLAS), the International Telecommunications Union (ITU) and the statutes of the Republic of the Marshall Islands.

* Technical assistance: support and technical assistance is available from a staff of experienced mariners, naval architects, surveyors, nautical inspectors, marine safety and environmental protection specialists, shipping company administrators, radio specialists and casualty investigators.

* Information on maritime regulations and port activities: an information network of Marine Safety Advisories is distributed to apprise owners and operators of changes to international shipping regulations and port State control activities to help avoid unnecessary delays and compliance problems.

* International representation: the Marshall Islands provides a worldwide network of Nautical Inspectors who conduct in-port inspections and respond to ship-owner and operator needs.

Other Advantages include:

* Private yachts are eligible to obtain a United States Cruising Permit.

* Specific Safety Codes of Practice certification for commercial yachts are in place to ensure compliance with national regulations.
Our fees are competitive. Contact our office concerning your specific requirements to receive a confidential quotation for anticipated services.

This article is designed to introduce you to the importance of asset planning and the need to protect your wealth. It is published as part of general information series for visitors to our web site. If you need to pursue an asset protection strategy, make sure you do it with the assistance of a professional.

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