Gibraltar Yacht & Boat Registration
Gibraltar has long been a haven for luxury yachts – and the wealth that accompanies them. Low taxation, three prestigious marinas, and membership of the British Flag Registry, it’s not difficult to see why many choose Gibraltar for their superyacht. With the iconic rock signalling its location at the opening of the Mediterranean, this idiosyncratic overseas territory is perfectly placed to register and berth a yacht.
The Gibraltar Yacht Registry is an internationally recognized, high quality registry providing an efficient and cost-effective service, it is an ideal choice for yacht owners who want the confidence of belonging to a British Register and flying the Red Ensign. As a member of the Red Ensign Group, there is flexibility of transfer to and/or from other Red Ensign ports in an efficient manner. The Registry offers very competitive rates to other British ports, including a 24hr turn-around service on the provision of official documents.
With over 800 active pleasure yachts on the register, all enjoy and benefit from a comprehensive maritime legislation based on English Common Law supported by a first rate legal and fiscal environment.
British Citizens, British Dependent Territories citizens, British Overseas citizens or EU or EEA nationals or companies registered within the EU or EEA may register a vessel in Gibraltar provided they have a majority interest in the vessel’s ownership. If the owner(s) making up the majority interest (i.e. 33 shares) is/are not residents of Gibraltar, a Representative Person/Registered Agent must be appointed. A body corporate shall be treated as resident if it has a place of business in Gibraltar.
As a British national or a citizen of the EU, you are entitled to own a British Flag vessel. Yachts can also be registered under the name of a limited company, as long as the company has been incorporated in a jurisdiction which is subject to UK laws and has a principal place of business in this location.
This ability makes it possible, and indeed sensible, for a Non-British national to make use of Gibraltar companies to own their vessels; the yacht will be registered in the name of the Gibraltar company, with the owner or nominee holding all the shares.
Any vessel registered in Gibraltar, whether in the name of an EU citizen or a Gibraltar-based company, will need an appointed Registered Agent who is entrusted with annual renewal of registration.
How to Register vessel in Gibraltar? Private or Corporate owned.
The most common way to register a vessel is under a Gibraltar corporate structure. This has several advantages such as confidentiality, as it can be arranged so that your name does not appear on any yacht or company documents. The onerous task of changing ownership details at the Yacht Registry can be overcome by simply transferring ownership of the company. Ownership though a structure can also overcome costly inheritance tax issues, provide inheritance tax benefits and provide asset protection.
Cost Of Registering A Yacht In Gibraltar
We charge the following for registering your vessel in Gibraltar:
GBP £ 1150 – TO REGISTER VESSEL WITH PRIVATE OWNER
*does not include Measurement and Tonnage Survey
GBP £ 1850 – TO REGISTER AS GIBRALTAR COPORATE OWNER (WE SETUP AN GIBRALTAR LTD FOR YOU)