REGISTRATION
ISLE OF MAN SHIP REGISTRY The Isle of Man Ship Registry is one of the world’s leading registers of ships and super yachts. A British register providing the very best in service to its valued clients; it is the flag of choice for owners looking for quality and partnership from a flag administration. Based in the Isle of Man with surveyors around the world, the register is run by a team of professionals dedicated to providing the very best in service. With 24/7 service and in-house technical expertise, the register provides advice and regulatory oversight for the ships and yachts on the register, in a pragmatic and commercially sensitive manner. This partnership working and service-culture is what attracts clients to register more of their ships in the Isle of Man. The Isle of Man really does offer high quality and superb service at a low cost. For more details Tel: +44 (0)1624 688500 or visit
www.iomshipregistry.com
Panamanian’s shore. The tax fees are paid once a year for the vessel and commercial yacht and the owners do not pay the taxes of their commercial activities in Panama”.
So yes, there are lots of factors to take into consideration many of which are unique to each owner. Says Brown, “I feel that an owner has to have involvement in the choice of flag and understand why that particular registry is being recommended. A good example of this is the name of the yacht. At the first registry of choice the name the owner wants may already be taken. With the name being such a personal matter getting the one a client wants becomes an important factor over
the flag state”. If owners they want to change flag states say for personal or regulatory reasons, yachts can and do, especially after a sale.
Despite the cautions to the contrary, a yacht owner cares like crazy what is written on the back of his boat and is often his ‘go-to register’ because the name he wants is available. The craziest names on the back of a boat? Try M/Y ‘Shoot low they’re riding chickens’, says Oscar Brown at Baker Tilly. His own particular favourite is ‘Absolute Freedom’. “It’s an average name”, says Brown, “but it got its name when the client finalised his divorce and bought the yacht”.
Dick Welsh points out that the IOM Registry does not allow anything with vulgar connotations, no matter how cleverly they are presented so these are filtered out at the name reservation/approval stage. Asking around the team at IOM Welsh came up with the following notable names that have registered in the Isle of Man: Daddy Cool, Pretty Woman, Shake n Bake, No Bada Bees, Naughty by Nature, Dripping Wet and Tigger.
Adds Welsh, “My favourite, not registered here, but on a small racing dinghy was ‘Usain Boat’. I have also seen ‘The Mutt’s Nuts’ in a marina with obvious reference to what they wanted to call it!”
THE RED DUSTER
The Red Ensign Group of ship registers has long been associated with quality within the maritime sector, and remains the flag of choice for many owners seeking high standards to ensure the safe running of their ships.
Operating under the mantle of “Strength and Quality through Collaboration” and comprising of international shipping registries operated by the United Kingdom, three UK Crown Dependencies and eight UK Overseas Territories. The Red Ensign (or a defaced version with the appropriate national colour) has long been associated with yachting and is a familiar sight on many private and commercial yachts.
Any vessel registered under one of these administrations is a "British ship" and entitled to fly the Red Ensign flag and enjoy the benefits this brings.
Administrations within ‘Category 1’ Registers including Bermuda, British Virgin Islands, Cayman Islands, Gibraltar, Isle of Man and the United Kingdom. ‘Category 2’ administrations include Anguilla, Falkland Islands, Guernsey, Montserrat, St. Helena and Turks & Caicos Islands, Jersey is also a Category 2 register but with the enhanced ability to register both pleasure and commercial vessels. *GT limits apply
124 | SUMMER 2018 | ONBOARD
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