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Yacht Management

International maritime law requires every vessel to be registered for proof of both ownership and nationality. Following the enactment of the Shipping (Jersey) Law, 2002 pleasure yachts up to 400 tons and commercial vessels up to 150 tons can now be registered with the Registrar of British Ships, Jersey. Being a Member of the coveted Red Ensign Group, the Jersey registration system is monitored by the UK’s Maritime and Coastguard Agency and is an acknowledged Market leader as a choice of Port of Registry which has been active for 200 years. The cost of registration is very competitive and is renewable every ten years, thereby reducing the costs and inconvenience of re-registration. Under Jersey’s Shipping Laws dual registration of a vessel is possible and the port name on the stern of the vessel can be London.

Many yacht owners choose to purchase their vessel through a corporate structure. A company incorporated in the British Islands and Dependent Territories is able to register a vessel on the British Registry whatever the nationality of the beneficial owner of the company. A company provides confidentiality and corporate ownership also limits exposure to potential tax liabilities. It can also assist with estate planning by alleviating the restrictions imposed in some jurisdictions as to how an individual might dispose of assets upon death.

Basel Trust Corporation (Channel Islands) Limited is experienced in dealing with all aspects of yacht registration and ownership. We can arrange everything relating to the registration of a vessel: reserving the chosen name of your vessel, arranging the tonnage survey, corresponding with the ship builder/boat yard to ensure that all official markings do meet current legislative requirements and are displayed.

This document is a brief guide to subject matter covered, and is not intended to be a detailed or comprehensive statement of the law. It should not be treated as legal advice. Clients are urged to take professional legal and other appropriate advice before pursuing any particular course of action. For more detailed information and professional advice on your own situation please contact Michael Blackie, Frank Gee or Julie Coward at Basel Trust Corporation.

Basel Trust Corporation (Channel Islands) Limited
PO Box 484
3 Old Street
St. Helier
Jersey
JE4 5SS

Telephone: +44 (0)1534 500 900
Facsimile: +44 (0)1534 500 901

E-mail: [email protected]

Regulated by the Jersey Financial Services Commission in the conduct of Trust Company business.