A Guide to Yacht Registration in BVI

Yacht Registration in BVI

A yacht is a large luxurious boat or ship used for relaxation and leisure activities owned by high-net-worth individuals and multinational corporate organisations. 

Investing in yacht registration in the British Virgin Islands is a big step that requires understanding the essentials. Having a BVI offshore company registration can simplify the yacht registration process in the British Virgin Islands. 

This guide will help you understand the requirements and procedure involved in registering a yacht in the BVI.

British Virgin Islands: A Yacht Ground

The British Virgin Islands is a top choice when it comes to BVI offshore company incorporation. Offshore company investors and corporate entities widely opt for British ships and marine vessels.

The British Registry Port takes care of the essentials required to register a marine vessel that meets the international standards adopted by the registry.

Different Types of Yachts in the British Virgin Islands

The different types of yachts that are allowed in the British Virgin Islands (BVI) are:

  1.  Luxury Yacht
  2.  Motor Yachts
  3.  Sailing Yachts
  4.  Charter Yachts
  5.  Custom Yachts
  6.  Cruising Yachts
  7.  Explorer Yachts
  8.  Liveaboard Yachts
  9.  Day Charter Yachts
  10.  Commercial Yachts
  11.  Sports Fishing Yachts

Documents for Yacht Registration in the BVI

The basic set of documents that you must submit for the Yacht registration in the BVI are:

  • Application Form
  • Declaration of Eligibility
  • Passport and Visa (Individuals)
  • Appointment of Respective Person
  • Ownership Proof (Bill or certificate)
  • Appointment of Authorized Officer (SR 101-03)
  • Certificate of Incorporation (Corporate Entities)
  • Proof of Deletion from Previous Registry (if applicable)
  • Undertaking to Act as Representative Person (RP) form

How to Register a Yacht in BVI?

To register a yacht in the BVI, you will have to follow the process given below - 

  1. Eligibility

According to the BVI Shipping Act, the yacht's owner has to be either a BVI offshore company registration, a BVI citizen, or a foreign entity that qualifies for registration. 

  1. Select a Registration Category

The BVI offers two categories of yacht registration categories they are -

  • Full Registration 

In Full Registration, a yacht is registered in the bvi and can use the BVI flag.

  • Provisional Registration

This registration is valid for only 90 days, and if required, the owner can apply for Full Registration by providing the necessary documents.

  1. Assign a BVI Shipping Agent

The selected bvi shipping agent will navigate you through the registration process and provide any necessary information that you might require regarding yacht registration.

  1. Submit the Documents

Submit the application along with the required documents to the BVI Shipping Agent, who will submit it to the Registrar of Shipping to register the yacht.

  1.  Get the Name of the Yacht Approved

The yacht name must be officially approved using Form SR101-01. Ensure the selected name is new and appropriate. 

The process of yacht registration can take place in any one of the three ports:

  • Road Harbour
  • Gorda Sound
  • White Bay
  1.  Obtain the Official Number

Once the documents are submitted accordingly, they will be scrutinised and assigned a vessel number along with an official number.

  1.  Carving and Marking Note

Once the official number is issued, the registrar will issue a Carving and Marking note. This document involves the details of the following essentials:

  • Vessel's name
  • Port of registry
  • Official number
  • Registered tonnage
  1.  Payment

Make a  payment for the yacht registration to the British registrar. This payment depends on the type and size of the yacht.

 Once the payment and requirements are approved, you will receive a Certification of Registry.

How Can We Help?

The process of yacht registration in the BVI involves several steps. Carrying out the process without any hassles is essential. As a foreign investor, a BVI offshore company formation could be slightly challenging; that’s why it's best to get help from business experts to guide you. 

Business Setup Worldwide is here to assist you with the process of offshore incorporation. Our consultants know the registration procedure and can direct you accordingly. 

Feel free to contact us and speak with our professionals if you wish to move forward with yacht registration in the BVI or want to learn more about the British Virgin Islands offshore company registration.

FAQs

What is the boat renewal fee in BVI?

1050 USD, including state tax.

How long does it take to register a yacht in BVI?

A couple of days.

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