Recognized as one of the most emerging offshore business destinations, Seychelles holds a broad spectrum for the business investors to invest in the offshore business. Situated among the manufacturing centres of Asia, Europe, and Africa, Seychelles has been transformed as an established and reputed offshore jurisdiction. Acquiring a power vessel for luxury or water sport has become one of the signs of privilege opted by high-net-worth-individuals. If you are planning to make an offshore investment in Seychelles, then registering a yacht is one of the smart moves. This article outlines the necessary details required to register a yacht in Seychelles.
The Seychelles Shipping Registry
When it comes to registration of Yacht in Seychelles, the Seychelles Shipping Registry is the ultimate governing body that takes the necessary measures. According to the guidelines, there are several criteria based on which a vessel registration is allowed, which are applicable through:
- By a Seychelles citizen
- Offshore companies
- Special License Company
- A boat not older than 15 years
- Boat aged up to 25 years can be registered with the help of particular documents
Documents Required to Register a Yacht in Seychelles
It is important to note that documentation plays a significant role in registering a yacht in Seychelles. One has to present the following essentials to take the process further.
- List of the Proposed Names
- Application form for Yacht Registration
- Declaration of Ownership
- Certificate of Incorporation (IBC/SIBA)
- Copy of Memorandum of Association
- Copy of Articles of Association
- Copy of the Previous Certificate of Registry
- Copy of Insurance
- Deletion Certificate (if applicable)
- Bill of Sale
- Proof of the authorization of a person to sign on behalf of the person
- Proof of the Vessel to be surveyed for its seaworthiness by SMSA or SMSA Approved
- A photo of the Yacht (in color)
- Radio License (completed relevant application process)
- Application for activation of Maritime Mobile Earth Station
- Registration Fee
What is the Process to Register a Yacht in Seychelles?
The registration of a yacht in Seychelles can be conducted either by using a Seychelles International Business Company (IBC) or directly under Seychelles Flag. To proceed with the yacht registration process in Seychelles, one has to deal with the following steps:
- Join Hands with a Certified Business Consultant: A business consultant or expert is well-versed with the relevant processes and can help you to complete the yacht registration process at ease. Experts like Business Setup Worldwide can help you to ease the yacht registration process at ease.
- Submit the Relevant Documents: The documents mentioned in the previous section need to be handover to the respective business consultant for further approval.
- Verification of the Documents Submitted: Once the agent has submitted the documents to the respective authorities, it will undergo the verification process.
- Approval: After the complete verification process, the provisional registration gets completed. Upon the expiry of 90 days, the vessel can be registered permanently by submitting the following essentials:
- Application for permanent registration
- Bill of sale
- Statutory certificates issued by the classification society
- Carving and marking note
Registering a Yacht in Seychelles is one of the crucial tasks that involve multiple checks and verification processes. At times, it becomes difficult for foreign investors to go ahead with the process as they are not well-versed with the relevant proceedings. To carry out the process in a smooth manner, business investors prefer to take the help of an expert’s guidance. Here’s how an offshore consultant can help you to set up an offshore business.
Understanding the legal processes that get involved in incorporating an offshore business, we at Business Setup Worldwide take the necessary measures to provide hassle-free business setup solutions. Our experts are well-versed with the business establishment process and can provide you tailored solutions accordingly. If you are looking forward to owning your Yacht in Seychelles, feel free to have a word with our business advisors. Contact us today-we’d be glad to assist.