Yacht Registration in the Marshall IslandsThe 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:
Other Advantages include:
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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