REGISTRATION


was. And with government registries, or their officially approved agencies, now marketing themselves openly at international events and public shows such as the Monaco Yacht Show, for example, less and less matters of nationality and eligibility restrictions in general appear to apply.


There’s one aspect I felt that many registries don’t push hard enough and that’s their willingness and capability when it comes to assisting an owner’s design team and shipyard during a new build. Being, as superyachts are, the kind of unique and amazing one- off expressions of their owner’s visionary and heartfelt desires,


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


“The Maltese flag is a European flag of quality with very high level of customer care from the flag state as well as the professional service providers who offer the complete corporate services” says Mark Darmanin Kissaun, Director, SD Yachts, Malta, who added: “National pride used to be considered in the past, however, as more and more yachts joined our registry, national pride has become somewhat secondary as non local owners appreciate the high level of service and efficiency offered by Malta, besides the Maltese flag is a very attractive flag to fly on the stern of a yacht.”


When it comes to nationality and choice of flag, the option of setting up a corporate entity to effectively own the yacht within a chosen jurisdiction and the allocation of shares and directorships to the appropriate people means, in effect, there are few barriers that cannot be successfully navigated around one way or another.


By highlighting those all important ‘Unique Sales Points’ such as fee incentives, special concessions and other singular benefits, the challenge for registries is to differentiate themselves and to ‘add-value’ in one form or another. From a marketing perspective, it’s about how well each registry presents its case, as much as anything else.


once a shipyard and project team have been appointed, the adherence of prescriptive regulations and safety requirements, as determined by the relevant construction code, can leave some aspects of the design & build process open to, let’s say ‘misinterpretation’, at best.


Debbie Podger, Assistant Registrar, Jersey Ships’ Registry, Ports of Jersey, explained more when she told us: “It’s always beneficial for a yard/owner/agent to take the Flag administration onboard when building a new vessel to LY3/PYC standards. The Jersey Registry can work directly with those involved to ensure that all applicable standards are met so the owner does not incur


PANAMA MARITIME AUTHORITY As a member of ‘A’ category of IMO Panama Ship Registry has over 100 years’ experience. Panama offers registration and client service within technical aspects throughout the 64 Private Consulates across the world and nine Technical Documentation Ship Offices, strategically located. The biannual tax, for yacht of pleasure is US$1,500 for foreign owner and US$1,000 for national owner. This fee excludes the payment of any other tax. The yacht owner doesn’t pay the TVA. Panama Ship Register is public, which allows transparency, security and permits to inscribe sales or mortgages faster and more efficient, which enable bank financing and guaranties. For more details Tel: +33 (0)4 91 90 05 84 or email: vjayala@mire.gob.pa


ONBOARD | AUTUMN 2017 | 155


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