Advantages of Registering Shipping Vessels in the Cayman Islands
The Cayman Islands Shipping Registry (CISR) is recognised the world over as the leading registry for super yachts and has the highest registered tonnage of such vessels in the world.
As a Category One British Registry it is able to register vessels of any size, age and type (the only exception is commercial fishing yachts). From small pleasure crafts to super tankers and merchant ships, the organisation ensures all international standards are met.
Benefits of Registering Shipping Vessels in Cayman
Some of the many advantages of registering shipping vessels in the Cayman Islands are:
- Absence of direct taxation reducing the tax burden of ownership and operation
Prompt and efficient vessel registration service - Any vessel registered in the Cayman Islands is a “British ship” and is entitled to fly the Red Ensign flag (with or without the Cayman Islands insignia), and is under the protection of the Royal Navy.
- A choice of three ports of registry – George Town, The Creek (Cayman Brac) or Bloody Bay (Little Cayman)
- Competitive registration, survey and tonnage fees
- Professional and skilled marine survey capability
- A stable political fiscal and social climate
- Quality banking, company management, legal and accounting services
- Full assistance of the British consular services worldwide
- Excellent relationship with the US Coastguard
- Modern comprehensive maritime legislation
- Cayman’s reputation is attractive to insurers and lenders
- Choice of a wide range of ownership structures
- Full range of available registration options including full, interim, provisional, under construction, and demise charter (bareboat), together with the registration of any associated mortgages
Shipping Vessel Registration Process & Requirements
The Cayman Islands provides a prompt and efficient vessel registration service.
The procedure involves the completion of a number of standard forms and dealing with a number of formalities, such as approval of the proposed name for a vessel and appointment of an authorised officer or agent in the case of corporate ownership. The application to register a shipping vessel should be accompanied by certain supporting documentation, including the following:
- Builder’s Certificate
- Bill of Sale
- Certificate of Good Standing (or equivalent)
- Certificate of Incorporation (for company owned yachts)
- Certificate of Survey and International Tonnage Certificate
- Certified copy of passport (for individually owned yachts)
Once the CISR is satisfied with all documentation, a Carving and Marking Note is issued to the owner and the Registrar issues a Certificate of British Registry along with the Tonnage Certificate.
Getting Help with Vessel Registration
For full details of the registration requirements and appropriate Government Fees, see visit the Cayman Islands Shipping Registry website.
If you’d like to simplify the process, Cayman Management can take care of this for you. Upon receipt of the specifications of the vessel and the appropriate documentation, Cayman Management will attend to vessel registration and any other needs you may have.
