arrangement fees and annual fees (if any), speed and simplicity of the process, customer service and ongoing support are examples of other variables which need to be applied.
“Getting the flag state right for your vessel is potentially as important a decision as the choice of vessel itself,” explains Joshua Paine from the Guernsey Registry of British Ships, who then added: “Choice of flag is one to which owners should give careful thought; a decision could so easily be made on the basis of short term convenience but the global recognition and reputation of each flag state needs to be weighed carefully, particularly in terms of where a vessel is most likely to be operating and ensuring that the interests of the owner and their crew are addressed properly by the selected maritime administration.”
Giving out altogether more subliminal messages, your chosen flag is as much about portraying confidence and the inferred subtleties as anything else and something which is perhaps best described along lines similar to the old wives tale that you can ‘always tell a man by his shoes’.
Shane Barks from luxury asset management specialists and yacht registry experts, Baker Tilly Isle of Man, said: “Flying the British Red Ensign is more than a show of national pride. It is a hugely respected flag; a badge of quality that shows the vessel is run and operated to its potential. Our experience shows that the jurisdiction and the flag under which a vessel is run provide owners with confidence and belief that their investment is being looked after.
JERSEY SHIPS’ REGISTER Jersey has had an active ships registry since 1803, and now has over 2000 registered vessels based all over the world. Monitored by the MCA, the registry takes stringent measures to maintain the respect, integrity, reputation, and efficient service already established. With a robust and well regulated offshore finance centre, Jersey also has the associated maritime legal, company formation, and banking expertise to assist potential owners to register at the Island Port. Applications are welcomed from British, Commonwealth, and European Union citizens, regardless of residency, as well as from Bodies Corporate incorporated in one of those areas. Pleasure vessels up to 400 gross tons may be registered, and up to 150 tons if the vessel is to be commercially used. The registration will be valid for 10 years, and there is no annual charge. For more details Tel: Tel: +44(0) 1534 448128 or visit
www.ports.je/shipsregistry
And while Baker Tilly Isle of Man are happy to recommend the Isle Of Man Registry in certain cases, their position as being part of a global advisory network enables access to the kind of independent advice owner’s find useful.
Head of Group Business Development at Baker Tilly, David Stevenson, said: “We would discuss the client’s particular requirements before providing the appropriate advice as to which jurisdiction would be best suited and this may include the Isle of Man if that works for the client. There are of course many other highly respected jurisdictions such as Malta, Cayman Islands and the USA where we would be happy to provide assistance to the client going forward.”
Certainly national pride plays an important part, but my research suggested that even this is not nearly as prevalent as it once
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