|
|
|
company formation, offshore company formation,limited company
formation, company registration, limited company, bvi company,
companies offshore, private limited company, company, company uk,
offshore ltd
Yacht Registration Panama- Malta -Hong Kong-Dubai (UAE)- Belize- BVI
Panama: Yacht Registration, Boat- Ship-Vessel
Registration
Panama Has the Largest
Shipping Registry in the World
The Republic of Panama has the largest and most
popular shipping registry in the world today. Over the years,
international shipping companies have flocked to Panama to take
advantage of the low registration taxes and fees applied by the
Panama government as compared to other countries.
Panama Ship Registration
All vessels are subject
to a one-time enrollment fee that is based upon a variable scale,
plus a government fee, at the time of registration. Registration of
the bill of sale is $0.20 per net
ton registered or fraction thereof
plus a 20% surtax. The
annual tax that is due is $0.10 per
net ton plus other charges. All international shipping
income is exempt from Panama taxes.
Panama Yacht Registration
Registration certificates for yachts in Panama
are issued for 2 year periods and must be renewed every 2 years for
as long as the yacht is registered in Panama.
Documents Required For Registration
- Purchase & Sale Agreement, Bill of Sale or a Builder's
Certificate if the boat is new
- Power of Attorney (to our law firm)
- Deletion Certificate from the previous registry or Builder's
Certificate if the boat is new
Vessel Registration Process
Panama's Maritime office will issue a
"temporary" Provisional Navigation License which is valid for a 6
month period and can be renewed. Within this 6 month period the
applicant needs to apply for a "permanent" or Definitive Navigation
License which is valid for a 2 year period.
All boats registered in Panama must also meet the Radio Operator
licensing requirements. First, a "temporary" Provisional Radio
Operator License will be issued which is valid for a 3 month period.
A "permanent" Definitive Radio Operator License must be obtained
within this first 3 month period or fines are imposed until the
Definitive Radio Operator License is acquired.
If the yacht is over 20 years of age it will also be required to
undergo a safety survey and other safety requirements.
Anonymous Yacht Ownership Using Panama Bearer
Share Corporations
In order to have anonymous ownership for your
Yacht or vessel in Panama you will need to first incorporate a
Panama corporation in bearer share form. Use our law firm and
nominee directors to set up the bearer share corporation and file
all of the proper paperwork on your behalf ensuring your name stays
out of any public registration databases. This allows you to
maintain total control over the Panama corporation and boat
ownership anonymously. Additional layers of privacy protection can
be achieved by having a Panama Foundation own your Panama
Corporation. Call us for more details.
Since your corporation is in bearer share form you can easily
transfer the boat ownership by simply selling the corporation and
share certificates to another party. No record of the transaction
needs to be recorded nor any taxes paid in Panama upon completion of
the sale.
Registration of Ships and
Yachts in Malta
Why should you
register your yacht or ship in Malta?
Registration of ships and yachts under the Maltese flag offers many
advantages:
-
low company
formation and ship registration costs
-
no
restrictions on the nationality of the ship owner
-
complete tax
exemption for private yachts and ships over 1000 Gross Tons
-
effective tax
rate of 4.17% and VAT exemption for chartering of commercial
yachts
-
no
restrictions on the nationality of the master, officers and
crew
-
no
restrictions or taxation on the sale or transfer of shares
of a company owning Maltese registered ships
-
no
restrictions or taxation on the sale and mortgaging of
Maltese registered ships
-
no trading
restrictions and preferential treatment to Maltese ships in
certain ports
Any vessel can be
registered under the Maltese flag provided it is owned by a Maltese
registered company or by a person habitually resident in Malta.
The formation of a
Maltese company is a straightforward operation and can be taken care
of by this firm, usually within a few hours. There are no
nationality requirements as to both the shareholders and directors
and usually the real ship or yacht owner will be the shareholder and
director of the company. The company will have its registered
office at our own address, unless you have another preference and we
will be the company's authorized representative in Malta so that we
will take care of all the company's administration in Malta.
A vessel is first registered provisionally under the Malta flag for
six months during which period all documentation must be provided
and the vessel will then be registered permanently.
Private
Yacht
registration
To register your
yacht provisionally under the Maltese flag we will need from you
- a power of
attorney from the owner authorizing us to register the
company and the vessel; this is a form
we can provide the form by e-mail or fax as you prefer;
- details of
your yacht on a form we can provide the form by e-mail or
fax as you prefer;
The provisional
registration is valid for six months. In order to register
your yacht permanently under the Maltese flag, you must provide the
following documents within six months from provisional registration:
- yacht
survey certificate from an authorized surveyor in the port
where the yacht lies attesting the yacht's seaworthiness;
should your surveyor have difficulty in obtaining the
official Malta Maritime Authority form
then a survey certificate form can be provided
- only if
your yacht is more than 24 metres in length, we will need an
International Tonnage Certificate
- a bill of
sale showing that your Maltese company has bought the yacht;
or a builder's certificate in the name
of the Maltese company if the yacht is new or has never been
registered anywhere previously
- a radio
installation form and a radio licence application which we
will provide to you after provisional
registration which must be filled in by an authorized
surveyor in the port where the yacht lies.
- a Carving
and Marking note from an authorized surveyor in the port
where the yacht lies; this is a form which
we will provide after provisional registration
- if the
yacht has been registered previously outside of Malta, a
certificate showing cancellation of registry from that last
country of registry (deletion certificate)
No other
documentation will be required.
Commercial Yacht
registration
To register your yacht provisionally under
the Maltese flag we will need from you
- a power of attorney from the owner authorizing us to
register the company and the vessel; this is a form can
provide by e-mail or fax as you prefer;
- details of your yacht on a form we can provide by e-mail
or fax as you prefer;
- an MCA Certificate of Survey issued by a classification
society
- if your yacht is more than 24 metres in length, we will
need an International Tonnage Certificate and a Load Line
Certificate also issued by a classification society
The provisional registration is valid for six months. In
order to register your yacht permanently under the Maltese flag, you
must provide the following documents within six months from
provisional registration:
- yacht survey certificate from an authorized surveyor in
the port where the yacht lies attesting the yacht's
seaworthiness; should your surveyor have difficulty in
obtaining the official Malta Maritime Authority form then a
survey certificate form can be provided
a bill of sale showing that your
Maltese company has bought the yacht; or a builder's
certificate in the name
of the Maltese company if the yacht is new or has never been
registered anywhere previously
a radio installation form and a radio licence
application which we will provide to you after provisional
registration which must be filled in by an authorized
surveyor in the port where the yacht lies.
a Carving and Marking note from an authorized surveyor
in the port where the yacht lies; this is a form which we
will provide after provisional registration
if the yacht has been registered previously outside of
Malta, a certificate showing cancellation of registry from
that last country of registry (deletion certificate).
No other documentation will be required. It is
worth pointing out that the operation of commerically registered
yachts for chartering purposes using a Maltese company is very tax
advantageous. Profits from chartering are taxed at 4.17%, there is
no VAT on chartering contracts and VAT paid on purchases by the
Maltese company can be reclaimed.
Ship registration
Since March 2000, no trading ships over
25 years will be registered. Trading ships between 20 and 25
years old must pass an inspection before provisional
registration; Trading ships between 15 and 20 years old must pass an
inspection by an authorized flag state inspector within one month of
provisional registration.
To register your
ship provisionally under the Maltese flag we will need from you
- a power of
attorney from the owner authorizing us to register the
company and the vessel which we
can provide the form by e-mail or fax as you prefer;
- details of
your ship which you can provide on the details form which we
can provide the form by e-mail
or fax as you prefer;
- a bill of
sale showing that your Maltese company has bought the ship
or a builder's certificate in the
name of your Maltese company if the ship is new or has never
been registered anywhere previously
- a
confirmation of seaworthiness from the vessel's
classification society confirming (a) vessel type and
classification; (b) valid dates of statutory certificates;
(c) exemptions or recommendations;
(d) encumberances
- a copy of
the latest International Tonnage Certificate
- a Document
of Compliance and Safety Management Certificate showing the
new ship manager's detail;
if the safety management certificate is not available, the
classification society must state that the
certificate will be issued on registration.
Once provisional registration is
complete, Malta Maritime Authority will issue a Certificate of
Provisional Registration, a Minimum Safe Manning Certificate and, in
the case of tankers, a CLC (Blue Card) Certificate.
To register your
ship permanently under the Maltese flag, you must provide the
following documents within six months from provisional registration:
- a Carving
and Marking note from an authorized surveyor in the port
where the yacht lies; this is a
form which we will provide to you after provisional
registration
- a radio
installation form which must be filled in by an authorized
surveyor in the port where the ship
lies and a non-GMDSS radio licence application for vessels
under 300 gross tons; for vessels over
300 gross tons a GMDSS radio licence application is needed
and if required, an immarsat application;
we will send you these documents following provisional
registration
- a
cancellation of registry certificate from the last country
of registry (deletion certificate)
- a
Certificate of Survey and an International Tonnage
Certificate issued on behalf of the Maltese
authorities
- a
certificate of class
-
a crew list accompanied by photocopies
of the officers' competency certificates and valid
STCW endorsements
|
