What is the process to register a yacht in the Cayman Islands?

The process to register a yacht in the Cayman Islands involves submitting an application to the Cayman Islands Shipping Registry. The application must include basic information about the vessel and due diligence on its owner. Once the application is approved, the yacht will be issued with a Certificate of British Registry which must be displayed on board at all times.

 

What are the benefits of registering a yacht in the Cayman Islands?

The benefits of registering a yacht in the Cayman Islands include tax exemptions, a reputable flag, a flexible registration system and a modern well developed legal framework. The Cayman Islands Shipping Registry has offices located globally and as part of the Red Ensign Group, Cayman registered yachts fall under the protection of the British Royal Navy. 

 

What documents are required to register a yacht in the Cayman Islands?

The documents required to register a yacht in the Cayman Islands include proof of ownership, a bill of sale, an official measurement certificate, and proof of seaworthiness. Additionally, the yacht must meet all of the technical and safety standards set by the Cayman Islands Shipping Registry.

 

What are the fees associated with registering a yacht in the Cayman Islands?

The fees associated with registering a yacht in the Cayman Islands vary and depend on the size, age, and value of the vessel. There are also annual fees for maintaining the registration which vary according to the gross tonnage. 

 

Can a foreign-owned yacht be registered in the Cayman Islands?

Yes, a foreign-owned yacht can be registered in the Cayman Islands. However, the owner must appoint a local representative who will act as an agent for the yacht. The local representative will assist with the registration process and be responsible for ensuring that the yacht complies with all local laws and regulations.