ONBOARD Magazine autumn 2023

REGISTRATION
ST KITTS AND NEVIS INTERNATIONAL SHIP REGISTRY
One of the most important decisions to make as a yacht owner is where to
register your vessel. While there are many options out there, one country that
stands out is St Kitts and Nevis. A beautiful British commonwealth nation
located in the Caribbean, is well-known for its stunning natural landscapes, rich
cultural heritage, and growing tourism industry. It is also rapidly becoming a
popular choice for yacht owners who are looking for a secure and attractive
jurisdiction to register their vessels. There are several benefits to registering your
yacht with St Kitts and Nevis, such as the ease and simplicity of the registration
process. This means that you can get your yacht registered and start enjoying
the benefits in no time. Moreover, registering your yacht with St Kitts and Nevis
provides you with access to a wealth of cruising destinations. The country’s
central location in the Caribbean makes it an ideal base to explore neighbouring
islands and enjoy the stunning beauty of the region. Furthermore, registering
your yacht in St Kitts and Nevis can also provide you with increased privacy and
confidentiality. The jurisdiction offers strict confidentiality laws, ensuring that
personal and financial information related to your yacht ownership remains
secure and protected. This can be particularly appealing for high-net-worth
individuals who value their privacy.
For more details Tel: +44 (0)1708 380400
or visit www.skanregistry.com
in June 2025. The Hong Kong Convention is aimed at ensuring
that ships, when being recycled after reaching the end of their
operational lives, do not pose any unnecessary risks to human
health, safety and to the environment.
Yacht owners need to also keep an
eye fixed on legislation as rules and
restrictions tend to get updated.
Says Ryan at St Kitts and Nevis, “A registry is a registry and
compliance with conventions and regulations are the same, but
the only difference is the criteria which the ‘Shipowners’ must
meet to be entitled to fly that flag. St Kitts has no restrictions
on the nationality, subject to international sanctions, however
shipowners incorporating within Nevis can redeem reduced fees
on the initial registration quote.”
Some countries, such as France, have two shipping registries; a
national registry and an international register to compete with
flags of convenience.
NEW SEA LEGS
Yacht owners need to also keep a firm eye fixed on legislation
relating to shipping as rules and restrictions tend to get updated.
There are planned Maritime Labour Convention (MLC) amendments
coming into force in December 2024 that will apply to commercial
yachts and include additions such as the requirement for social
connectivity. The HK recycling Convention will apply to yachts
Liam Ryan at St Kitts & Nevis says that legislation is standard
for each registry but yacht regulations will differ. St Kitts has
three main types of legislation/regulations relating to safety
which yachts should comply with: Pleasure Vessel Regulations,
2007 – which caters for yachts below 24m which are being used
for private/pleasure purposes: Small Commercial Vessels (SCV)
code – which caters for yachts below 24m which are being used
for commercial purposes operating within the Caribbean and
thirdly, the Large Yacht Code (LY3) – which caters for commercial
yachts above 24m which are being used internationally with a
limitation of 12 passengers.
WAVING THEIR FLAG
So who to choose, (or see if they’ll let you in)? Brooks is ready with
his answer: “One of the world’s leading flag states, the Isle of Man
Ship Registry is pioneering innovation and high quality standards
in the industry. IOMSR provides first class responsive service,
ease of administration, low costs and industry leading support
and expertise. IOMSR plays a central role in a well-established
eco-system. It has strong working relationships with industry
specialists, including Corporate Service Providers (CSPs).
The Isle of Man’s stable political and economic environment
provides tangible benefits to owners who use it to structure
ownership of their yacht, including favourable taxation treatment,
both in terms of VAT planning and corporate tax. Supported by
a large number of CSPs, it is the ideal place for vessel owners
seeking a tailored solution that manages risk, tax and privacy.
IOMSR has set the ‘gold standard’ for superyacht build and
upkeep. It leads innovation in decarbonisation and digitisation,
becoming the first flag state to offer reduced registration fees
to yachts deploying green technology. An Isle of Man registration
also grants the right to fly the ‘Red Ensign’ with all the support
that brings.”
ONBOARD | AUTUMN 2023 | 207