The Marshall Islands Yacht Registry has gained increased recognition throughout the yachting community as a result of its more efficient registration process, which includes a yacht owner’s ability to register a private yacht under either a one-year or three-year program.
The Marshall Islands Registry is ranked as the third largest open registry in the world and private/commercial yachts comprise 24% of the Marshall Islands fleet in terms of vessel count.
With an offices in major maritime cities around the world, the Marshall Islands is able to provide same-day service to the yachting community, regardless of location and time zone.
MARSHALL ISLANDS REGISTRATION ADVANTAGES
- White listed with good reputation
- No tax on profits from the operation
- Available for all yachts over 12 M
- Around the clock maritime support
- Maritime offices around the world
- Mortgage protection for lenders
VESSEL REGISTRATION REQUIREMENTS
- Types of vessels that may be registered under the RMI flag include: tankers, cargo ships, containerships, passenger vessels, MODUs, tugs, yachts, fishing vessels and other ocean-going vessels
- Vessels should be under 20 years of age at time of registration. A waiver of the age requirement may be granted depending upon a satisfactory evaluation of the condition, seaworthiness and usage of the vessel
- Ownership must be in the name of a RMI National, Corporation, General Partnership, Limited Partnership (LP), Limited Liability Company (LLC) or Foreign Maritime Entity (FME) qualified in the RMI
CLASSIFICATION OF VESSEL
All commercial vessels are required to be classed by a Classification Society that is recognized by the Maritime Administrator. The following are currently recognized: ABS, BV, CCS, NK, CRS, DNV GL, IRS, KR, LR, PRS, RINA AND RS.