US$850 pro-rated for periods of less than a year, and then annually for acting as Local Representative in the Cayman Islands and includes the following services, excluding time and expenses.

The Cayman Islands is a tax-neutral jurisdiction. Specifically there is no VAT or any other kind of sales tax in respect of the purchase of a new vessel

For a vessel to be registered in the Cayman Islands it must be owned by a “qualified person” which now includes a company incorporated in a number of specified jurisdictions. The British Virgin, Islands as a British Overseas Territory, is suitably qualified. Remember, however, that the company would have to appoint a Local Representative in the Cayman Islands.

The owner, or an authorised representative, must complete a number of Cayman Islands Ship Registry forms and deliver also a builder’s certificate in the case of a newly built ship or a bill of sale following purchase of an existing vessel

Generally transactions are completed within 2 working days of delivery of all of the forms, required documentation and applicable fees to the Shipping Registry. For an additional service charge registration may be completed on a “rush” basis within 24 hours, on the next working day or even, by pre-arrangement “over the counter”

Vessels that are under construction and any related mortgages may be registered as soon as the keel is laid

Yes, provided that the Registry is in receipt of the application forms and relevant fees