WHY REGISTER A YACHT?
THE HIGH SEAS BEING OPEN TO ALL NATIONS, NO STATE MAY VALIDLY PURPORT TO SUBJECT ANY PART OF THEM TO ITS SOVEREIGNTY
(Geneva Convention on the High Seas, 29th April 1958, Article 2)
The freedom of the high seas is a fundamental principle of international law. To ensure that that freedom doesn’t mean anarchy, international law looks to individual states to ensure compliance with a framework of laws and conventions.
Registration of a ship gives it a nationality and a ship without nationality enjoys no protection under international law.
WHY REGISTER A YACHT IN THE CAYMAN ISLANDS?
- Our commitment to providing quality service and striving toward excellence
- Our reputation and industry-wide recognition as the premium yacht flag
- Client-focused and highly responsive:
- Vessel and mortgage registration in 24 hours, provided all documentation is received
- Personal service and flexibility in providing services outside of normal business hours
- Committed to adding further value through offering:
- A range of ownership structures: individual, joint, company and shipping entity
- A comprehensive list of over 70 countries that qualify to own Cayman-flagged vessels
- A variety of registration types: full, interim, term, under construction and demise charter (bareboat), together with the registration of any associated mortgages
- Experience and Technical Excellence:
- A diverse, qualified and experienced global team of professional surveyors, auditors and registration personnel that share a common corporate philosophy that values long-term relationships
- Responsible for drafting and maintenance of the Passenger Yacht Code (PYC)
- Favourable Operating Environment:
- A solid political, legal, fiscal and social environment with a stable parliamentary democracy since 1831
- An efficient, tax-neutral, international finance jurisdiction that offers a wide range of first-tier financial and business services
- Modern, comprehensive maritime legislation based on English Common Law allows flexibility for owners without compromising safety and offers excellent mortgage protection provisions to secure the rights of mortgagees and financiers
- Global Reach – Located in 15 countries and 19 locations including the Cayman Islands, Brazil, China, France, Germany, Greece, Italy, Japan, The Netherlands, Panama, Philippines, Singapore, South Africa, United Kingdom, and the United States.
- Additional Benefits:
- An active international Ship-owners’ Advisory Council (CISAC) that includes the Yacht Committee (CISAC-YC) and national Maritime Sector Consultative Committee (MSCC) of maritime service providers
- International Maritime Organization (IMO) participation through the United Kingdom Government
- Full British Consular services and Royal Naval assistance and protection for Cayman-flagged vessels are available worldwide
- Competitive fee structure