Boat and Yacht Registration Services

A sailing vessel such as a boat or a yacht must be registered with a country. The are many countries which offer registration of such vessels and each country has its pros and cons. Selecting one jurisdiction is essential as the vessel will be subject to the laws of the country it is registered.

Before the advantages of registering a vessel let's first understand the difference between a boat and a yacht.

The Difference between a Boat and a Yacht

Boats and yachts are watercraft that offer various commercial and personal services. Here are the  differences between a boat and a yacht:

Basis

Boat

Yacht

Size

Boats are smaller than yachts but still vary in size. 

If a boat is beyond 40 feet in length, it is considered a yacht.

Purpose

Boats are designed specifically for business activities like fishing, cruising or watersports. 

Yachts are for entertainment purposes, cruising and pleasure.

Luxury Facilities

Boats contain only a deck area and are too small to afford luxurious features.

Yachts are known for their luxurious facilities, which often include full kitchens, rooms, bathroom tubs and even helipads.  

Cost 

Boats cost less than yachts due to their small size and simple structures. 

Yachts are costly due to their large size and more functionality.

Maintenance

Boats do not require much maintenance.  

Yachts require more maintenance, such as cleaning and maintaining the rooms, swimming pool, decks and other areas. 

Engine Power

Boats usually do not have engines. Small boats require manpower, whereas big boats require wind or sails to move.

Yachts have potent engines to run through rough water which helps them to run longer. 

 

Different Types of Boat

The segregations of sifferent boats and yachts depend on the usage size. Here is a list of various types of vessel:

  • Megayacht
  • Motorboat
  • Sailing boat
  • Houseboat
  • RIB/SIB
  • Speed boat
  • Jet ski
  • Dinghy/ Small boat

Different Usages of a Boat Registration

Owning a vessel comes with the following uses:

Some water vessels can be used for personal purposes such as travelling and sailing.

You can use any water vessel for commercial purposes such as business, fishing, cargo transportation and ferry services. Commercial vessels can also perform specific tasks, such as research.   

The Benefits of Boat and Yacht Registration

Registering a water vessel comes with several benefits. The process can be completed within 2-3 working days. The advantages are discussed below:

No nationality restrictions exist for completing a yacht registration, and no incorporation address is required to own a yacht in a foreign country. For example, registering a vessel in Seychelles with USA citizenship will not cause any issues for the owner.

The watercraft registration process is straightforward. To make it easier, visit our website and fill out the form according to your jurisdiction preferences. Then, sign and submit the documents to get authorized from the government authority. Once the vessel is registered, official records will be sent to the registered address. 

The boat and yacht registration is a simple procedure that can be completed within 2-3 working days. 

Only a few documents are required for a boat and yacht registration. Here is a list of documents:

  • Application for Vessel Certificate of Number
  • A passport and identification document       
  • Purchase proof of the vessel
  • Proof of Ownership

Renowned Jurisdictions for Boat Registration 

Obtaining a boat license is a legal requirement for sailing in most jurisdictions. Once the permit is secure, choosing the correct country to register your boat or yacht is crucial.

Here's a list of some popular destinations for vessel registration and the benefits of registering your vessel in the country:

British Virgin Islands (BVI)

  • A BVI flag bearer watercraft can travel through all the ports in the world.
  • The country is tax-neutral and because it does not come under  EU VAT, there is no sales tax on goods and services purchased. 
  • Owning a boat license under the BVI flag is secure due to the jurisdiction's stable political and economic environment. 

Marshall Islands

  • The Marshall Islands Registry is considered the third largest in the world. 
  • Vessels registered in the Marshall Islands qualify for benefits under the Paris MoU's New Inspection Regime, identifying them as low-risk for port state control inspections.
  • Watercrafts bearing the flag of Marshall Island can cruise through the United States and Europe. 

Panama

  • Panama offers three types of boat registrations which include private, commercial and bareboat charter.
  • No VAT (Value-Added-Tax) charges are applicable on the boats and are valid for all nationalities. 
  • The registration of vessels needs to be registered annually.

Cayman Islands

  • A Cayman Island watercraft flags a British Ship protected by the British Royal Navy.
  • There are no nationality restrictions and it enjoys a tax-free environment for commercial activities.

The above-mentioned jurisdictions and the advantages can significantly benefit registering a watercraft, but choosing the best location can be tedious. This process can be made easy with the assistance of Business setup worldwide.

Our Role

Business Setup Worldwide is an expert in providing boat and yacht registration services worldwide. We have been serving clients for more than 14 years. Our yacht enrollment services offer a wide range of services under one roof. Feel free to contact us at +971 504808605 or email [email protected] for further information.