Change of Certificate of Good Standing Requirements

Shipping Notice: CISN 02/2010

Published 6th April 2010, 10:23am

To: OWNERS, MANAGERS, CHARTERERS AND MASTERS OF LARGE PRIVATE AND COMMERCIALLY OPERATED YACHTS

Printable Version

1. BACKGROUND

Under The Merchant Shipping (Registration of Ships) Regulations, 2002, section 5(a), “Where application is made on behalf of a body corporate, the application must be accompanied by- (a) if it is a company incorporated in the Cayman Islands, a copy of its certificate of incorporation accompanied by a certificate of good standing issued by the Registrar of Companies, and, in the case of a company which has changed its name since incorporation, it certificates of change of name; or incorporation, its certificates of change of name; or…”

Presently, a current Certificate of Good Standing is required for registration of a vessel.  Current, meaning it should be dated within 30 days of the application for registration.

2. APPLICATION

In an effort to simplify this process, effective 1 May 2010, an application submitted for the registration of a vessel owned by a company incorporated within the same year in the Cayman Islands, will not require a Certificate of Good Standing. However, an application submitted after the first year of incorporation, the registered agent would need a declaration stating that the company is still in good standing.

For further information contact: Corporate Communications