To: OWNERS, OPERATORS AND MASTERS OF PLEASURE YACHTS
1. BACKGROUND
1.1 Our Registration team are often informed that change of flag or change of ownership of a yacht will be undertaken at sea in international waters before returning to port. However, it is important that the Technical team (technical@cishipping.com) are also made aware of such intentions to help avert any port state control interventions.
1.2 Changing Flag or Ownership at sea creates some logistical and regulatory challenges in terms of following registration, survey and certification procedures and convention requirements, although modern communications and the digitalisation of certificates has alleviated some of these.
1.3 The purpose of this guidance notice is to set out Cayman Registry (CISR) policy for the management of change of flag or ownership at sea of pleasure yachts in private use.
1.4 ‘Commercial Vessels’ are not covered in this guidance notice due to the more complex coordination required between all parties in the lead up to a change of flag and/or ownership. Guidance will be provided for such vessels on a case-by-case basis, but it is expected that ISM Management Companies are well versed in such matters.
1.5 Only the steps for change of flag have been listed but they also serve as a guide for changes of ownership, and change in name or port, although less steps are applicable.