There are many reasons to register your boat or yacht in an offshore territory, including the absence of capital gains tax, low registration and management costs, and the absence of VAT when purchasing. If you’re considering how to register a yacht offshore, these advantages make offshore registration an attractive option for many boat owners.
But how can you benefit from these advantages? We explain in this article how to register an offshore boat.
Choice of the jurisdiction
British Virgin Islands, Seychelles, Panama … There are many options available when it comes to registering an offshore boat. However, the choice of jurisdiction is essential. Indeed, depending on the place of registration of your vessel, it is possible to greatly reduce the initial costs. And also the costs of annual renewal.
Registering a boat in the British Virgin Islands, for instance, is a very good option for registering a large vessel. In addition to benefiting from the prestige of the British fleet, local laws make it possible to incorporate a boat quickly, in particular thanks to the fact that the documents must be drawn up in English (translation tend to be quick and inexpensive).
Seychelles is also a very good option to consider for registering a yacht. Indeed, this country has modern facilities, the registration process is simple and the tax possibilities are attractive. In addition, Seychelles is a member of the United Nations, of the Commonwealth and has ratified the main international maritime conventions.
How to register a yacht offshore: documents required
- a certificate of compliance: this document must be provided by you and then certified by a recognized organization such as Bureau Veritas (FR), Llyods (UK), ABS (USA), etc.
- a safety construction certificate or sales invoice: the drafting of this document is one of the seller’s obligations. It formalizes the sale.
- a declaration of use of the vessel: as a fiduciary specializing in the creation of offshore companies, we are providing you with this document.
- a certificate of cancellation: this document is necessary if your vessel is already registered. For registration in some jurisdictions, additional documents will be required. Do not hesitate to contact us for further information.
