Each ship or aircraft is subject to state registration. One of the popular types of ships and aircraft registrations, because of its efficiency. is the registration in offshore jurisdictions. Such kind of registration has many advantages and opportunities for owners of ships or aircrafts.

Registration in the  offshore entitles yachts and ships sail under the flag of the State in which the proper registration was made and the property rights are formalized.

Among the main advantages of the offshore ships and aircraft registration is privacy. It gives the owner an opportunity to reduce the risks of business or other competitions and  avoid the problems associated with the various trials.
 

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Another advantage of the offshore registration of ships and aircrafts  is the possibility to reduce tax payments to a minimum level. There are many offshore areas, where the fee of the registration and ownership of ships and aircraft is at a low level. At the same time, the owner can avoid paying taxes on income earned as a result of usage of the ship as the ship is registered in the offshore zone.

In some cases we can even avoid customs duties and value added tax.

For example, in the British Virgin Islands the tax liability is completely absent in the case of income from the commercial use of the vessel or its sale. However, it should be noted that the income should not be associated with the Islands, and you are allowed to register only small ships.

Requirements and documents for registration of aircrafts and ships in the offshore areas are different and depend on many parameters.

 

The cost of registration of yachts and ships:

№

Jurisdiction

Terms

Total cost of registration

Subsequent annual payments

1.

Anguilla

2 weeks

$ 2100

$ 600

2.

Belize

3 weeks

Depending on the technical specifications

Depending on the technical specifications

3.

British Virgin Islands

3 weeks

Length up to 24 m - $ 3500

Length from 24 m - $ 4000

$ 600

 

$ 800

4.

England

2 weeks

$ 3000

-

5.

Comoros

7 working days

Length up to 12 m – $ 2700

$ 600

7 working days

Length from 12 m to 24 m – $ 3200

$ 800

6.

Jamaica

7 working days

Length up to 12.9 m – $ 2500

$ 600

7 working days

Length from 12.9 m to 24 m – $ 2850

$ 650

7.

Seychelles

7 working days

$ 3300

$ 900

8.

Saint Vincent and the Grenadines

2,5 weeks

$ 3500

$ 750

9.

Marshall Islands

3 weeks

$ 3100

$ 900

10.

Montenegro

5-7 days

Depending on the length and capacity of the engine

 

11.

Panama

3 weeks

$ 3,000 for resident

$ 3,500 for non-resident

$ 2200 (third year)

12.

Isle of Jersey

2 weeks

$ 2500

$ 500

13.

Isle of Man

3 weeks

$ 3000

$ 700
14.

Other jurisdiction

  by agreement  by agreement  by agreement

 

For any further information please contact our specialists.