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THE VIRGIN ISLANDS


definitions for being called a pleasure vessel and be registered as such. Pleasure vessels in essence usually mean that the owner operates the vessel for their personal use and does not make any profits out of the operation. The vessels are only required to comply with very few maritime legislations.”


Once the owner decides to operate a vessel commercially, things get more complicated: The yacht must comply with international laws relating to its construction, outfitting and manning. Says Jallow, “The rules are very complex and it needs a trained surveyor to certify them fit for commercial operation.” Dr Zammit echoes this by confirming, “Certificates of compliance are required, registration and maintenance fees are generally higher as are fees for insurance. Therefore the cost of buying and maintaining a yacht for commercial use is much higher. More certification is required and there could be more restrictions on crew.”


In the EU, the choice between private and commercial has become very complex as each state has its own customs and tax laws that must be followed. So yachts prefer to switch between commercial or pleasure depending upon the state that they are in. “The Virgin Island Ship Registry


(VISR) is happy to provide such a facility,” says Jallow. “For example, we have a client wishing to change the registry between pleasure and commercial in the European Union. According to new French customs regulations, the owner is authorised to charter non-EU residents under the temporary admission relief but under a commercial certificate of registry.”


“In France, it is perfectly possible to remain under temporary admission and under a commercial certificate of registry. In Spain, it is also possible, but it requires obtaining a chartering license which is very difficult to obtain. As a consequence, the client would like to have a commercial certificate of registry when renting the boat out in France to non-EU resident charterers and a pleasure certificate of registry when using his boat privately in Spain.”


If at this point in the game, the owner hasn’t decided to ditch the idea of buying a boat, Mag. Virna Ayala points out that at the Panama Ship Registry, there are no pros or cons of commercial or private registration. A private yacht has to pay a fixed tax of $1,000 (if Panamanian national) or $1,500 (for a foreign company) every two years.


SHIPPING REGISTRY The Virgin Islands Shipping Registry (VISR) is the Maritime Administration of the British Virgin Islands (BVI), offering first-class services for ships and seafarers, including marine certification, and advice for yacht owners requiring BVI yacht registration. It is also able to serve the global market as a provider of international yacht registration, safety and advisory services. The role of the VISR is to implement the maritime policies of the Government covering shipping operations, safety of life at sea, security, the prevention of, and response to, pollution from ships and yachts. For more details Tel: +1(284) 852 1957 or visit www.bvifinance.vg


WILL THE FLAG STATE HAVE ME? Once an owner chooses a flag state to approach for registration, is there a chance he will be rebuffed at the door? Jallow explains, “Every registry has their own criteria on who they will accept on to their registry. Firstly it depends on the type of registry: traditional or open. Certain registries may not accept persons from countries in any UN sanctions list or the black list of the Financial Action Task Force. The BVI has its own eligibility list as well.” The Panama Ship Registry doesn’t have any owner’s nationality, age or vessel tonnage criteria, once the owners comply with the requirements.


WHAT TYPE OF REGISTRY? So we’ve got this far, but we’re still a marathon away from flying a flag. Now


ONBOARD | SUMMER 2019 | 113


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