FAQs – Shipping and Yacht Services

What are your fees for acting as Cayman Representative and what does it cover?

US$850 pro-rated for periods of less than a year, and then annually for acting as Local Representative in the Cayman Islands and includes the following services, excluding time and expenses.

  • Physical presence in the Cayman Islands
  • Forwarding of notices, documents, and information received from the Cayman Shipping Registry onward to the vessel owner
  • Renewal of annual Ship Radio Station Licence
  • Agent for payment of annual tonnage fee

Is there any VAT due in the Cayman Islands when purchasing a new vessel?

The Cayman Islands is a tax-neutral jurisdiction. Specifically there is no VAT or any other kind of sales tax in respect of the purchase of a new vessel

Can a BVI company be the owner of a vessel registering in the Cayman Islands?

For a vessel to be registered in the Cayman Islands it must be owned by a “qualified person” which now includes a company incorporated in a number of specified jurisdictions. The British Virgin, Islands as a British Overseas Territory, is suitably qualified. Remember, however, that the company would have to appoint a Local Representative in the Cayman Islands.

What is the documentation required to register a vessel in the Cayman Islands?

The owner, or an authorised representative, must complete a number of Cayman Islands Ship Registry forms and deliver also a builder’s certificate in the case of a newly built ship or a bill of sale following purchase of an existing vessel

What are the advantages of registering with the Cayman Islands Ship Registry?

  • A stable political, legal, fiscal and social environment
  • An efficient, tax-neutral, international finance jurisdiction
  • Modern, comprehensive maritime legislation
  • Provision of a diverse, qualified, and experienced global team of professional surveyors and shipping specialists
  • Choice of a wide range of ownership structures.
  • A range of available vessel registration options including full, interim, provisional, under construction, and demise charter (bareboat), together with the registration of any associated mortgages
  • NO VAT payable in Cayman
  • Protection of the Royal Navy

How long will it take to register my vessel?

Generally transactions are completed within 2 working days of delivery of all of the forms, required documentation and applicable fees to the Shipping Registry. For an additional service charge registration may be completed on a “rush” basis within 24 hours, on the next working day or even, by pre-arrangement “over the counter”

Can I register with Cayman Islands Ship Registry whilst the vessel is still under construction?

Vessels that are under construction and any related mortgages may be registered as soon as the keel is laid

Can I obtain the Official Number and Call Sign before completion of the registration or construction?

Yes, provided that the Registry is in receipt of the application forms and relevant fees