REGISTRATION
and accounts for the largest tonnage of registered vessels in the world. With a fleet containing 81 million tons making up nearly 22% of the world’s total tonnage only a small percentage are superyachts. The majority of the 8,000 plus vessels are registered as fishing boats, cargo ships, and tankers.
Lucia Hurnikova is the Secrétaire Administrative at Consulat Général du Panama in Marseille. Hers is one of a network of global offices that includes 9 Regional Segumar Offices, 64 Private Merchant Marine Consulates all around the world and more than 200 flag inspectors. With 24/7 availability Lucia and her team at the Consulate offers an open ship registration to owners, regardless of their nationality.
The owner of a ship can be a natural or legal person, Panamanian or foreign, based in Panama or any other party. Owners benefit from low and competitive fees and any income derived from the operation of yachts engaged in international trade is exempt from tax.
Panama allows dual registration of both foreign vessels and Panamanian registered
UK SHIP REGISTRY The UK Ship Registers’ online registration is now available 24/7 with e-certification and online payment offered as standard. The system offers a quicker and easier solution for owners and managers wanting to fly the UK Red Ensign and enhance their reputation internationally. Ship owners and their management teams can perform all registration options online. This will reduce the amount of administrative paperwork, offer faster access to the vessel’s details, and speedier registration. The dedicated Large Yacht Services team are always available to provide tailored services and advice to owners and managers globally. For more details Tel: +44 (0)203 8172014 or visit
www.ukshipregister.co.uk
vessels with another country. This means a foreign ship under charter for a period of two years (renewable) can be registered under the Panamanian flag without losing its original registration; Panamanian ships also can have a special foreign registry without losing the Panamanian flag. Lucia says, “Dual flag registration is a great advantage to the shipping community that wants to retain the benefits of an open register and local register. This is considered an advantage for European ships which could otherwise be forced to register with many other European countries at a greater expense versus an open registry offered by Panama.”
BAHAMAS
With more than 700 islands, rocks and cays, The Bahamas is truly a maritime nation. Bahamian culture, heritage and history have long been associated with the sea. The country’s centuries-old trading traditions and its modern prosperity and affluence owe their success to seafaring and the sustained growth of maritime services. Today, The Bahamas is an international maritime centre whose centres of excellence in shipping law are based on English law. A comprehensive maritime cluster of island based financial services, insurance and ship brokering is enhanced by the absence of income tax and corporation tax. Popular with owners of new yachts the Bahama Marine Authority (BMA) actively discourages older vessels from joining the Register. The BMA has published its own Bahamas Yacht Code to cover the statutory requirements for commercial yachts under its flag. This is based on the REG Large Yacht Code and
has been tailored to fit the requirements of owners seeking to flag outside Europe.
DOMINICA The Commonwealth of Dominica International Maritime Registry offers yacht owners, both commercial and private, cost effective yacht registration with no tonnage tax or size restrictions. Despite the lack of supportive evidence, the Dominica claims to be one of the largest private yacht registries in the world and so its website claims: “is fast becoming recognised as one of the top five.”
It offers registration to yachts through a network of Consulates dotted around the globe. One of these is in Athens Greece. There,
Christos Vardikos, the consul
for Dominica offers clients the ability to customise the length of registration periods to better convenience the customer and keep documents up to date. He says, “Registering a yacht under our flag is fast, simple, and cost-effective.”
In addition, the Registry provides a free self- inspection programme to help private yacht owners ensure that safety and security on their craft is they claim ‘Of paramount importance’. The Commonwealth of Dominica International Maritime Registry even offers a Yacht Masters License (Operator of Uninspected Passenger Vessel for Twelve (12) Passengers or Less) through mariner and seafarer training program delivered by Northeast Maritime Institute – College of Maritime Science comprehensive maritime learning management system, Northeast Maritime Online – NEMO.
ONBOARD | AUTUMN 2020 | 71
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