Isle of Man Yacht Registration - Switzerland & Monaco

The Isle of Man have added Switzerland and Monaco to the list of countries that qualify to register yachts on the Isle of Man ship register following recent changes made to the island's shipping laws.

The changes extend the list of qualified owners already approved, to include citizens, bodies corporate incorporated in Monaco or Switzerland, or limited partnerships with their principal place of business in Monaco or Switzerland, as persons who are qualified to be the owners of Manx ships.

Mr Alex Downie, OBE, MLC, the political member with responsibility for shipping, said “I am delighted to have been able to establish regulations to extend our ownership criteria to include the important financial centres of Monaco and Switzerland. The private sector yacht management companies on the Island see great potential in this latest move and I hope to see more yachts financed in these countries flying the Manx ensign in the future”.

Duncan Swanson, founder and principal of Oceanskies Limited was also delighted by the move saying, "We work with many Swiss and Monegasque resident owners and the ability for them to register yachts directly under the Manx flag will be welcomed by them as in both jurisdictions it can be difficult for anybody other than a national as opposed to a resident to qualify for registration under their local flag. We are already in discussion with a number of owners living in both Switzerland and Monaco who are keen to register their yachts directly in the Isle of Man and enjoy the benefits of British flag yacht registration."A summary of the countries and jurisdictions who qualify to register yachts directly in their own name under the Isle of Man flag follows:

• British citizens, British Dependent Territory citizens (BDTC) British subjects and British Nationals
• Citizens of the European Union or European Economic Area
• Citizens of the prescribed relevant countries
• Bodies corporate incorporated in the Isle of Man, UK, EU, EEA, BDT, Channel Islands and the prescribed countries
• Limited partnerships

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