Registration of ships and vessels

Ships and other vessels intended for both international trade and private recreational use can be advantageously registered in some offshore countries.

Vessels shall be registered as the property of an offshore companies and thus acquire the right to fly the flag of the country in which the company is registered.

A typical example of countries where the procedure of the registration of ships and vessels is easy and financially advantageous are Belize or Panama. Panama ship registry is the largest in the world.

Demands of local authorities in these countries to the condition of registered vessels and even on the crew are relatively benevolent.

In these countries, there are very low registration fees, a simple registration procedure and zero tax on income from operations of merchant ships.

Choosing the correct country for your boat or ship has considerable importance for the annual fees and taxes.

The most commonly used tax havens for the registration of ships and vessels

• Belize
• Panama