Demise Charter

Demise (Bareboat) Charter Registration: Cayman offers both Demise Charter Out and Demise Charter In vessel registration.

A qualified demise charterer may register a ship under a flag that better facilitates commercial operations and is different from the underlying Flag where it was originally registered by the owner. Matters relating to title, mortgage and other proprietary interests continue to be subject to the Law of the underlying registry (chartering-out Flag). However, for operational purposes, the nationality of the ship becomes that of the Flag where the charterer registers it (chartering-in Flag).

Preferential financing and other conditions may be available on the underlying register.

Demise (bareboat) charter registration in Cayman is usually required to be a fixed period of 2 years or more or such a lesser period as may be allowed by the Director.

There is also provision in Cayman Islands law for Demise (Bareboat) Chartering-Out and for Sub-Demise Chartering, under appropriate circumstances.