As of April 1st,2019, the Isle of Man Ship Registry have substantially increased their annual registration fees for pleasure vessels and introduced three new fee bands based on vessel length:

Pleasure Vessel Annual Fees
Pleasure Yacht LOA Old Fees New Fees
12m and over £122 £250
Over 12m and under 24m £122 £500
24m and over £122 £1000

The fee increase effects all pleasure yachts that are on the Isle of Man register on or before April 1st, 2019.

The increase in fees appear to signal a move by the Isle of Man registry to move away from the registration of smaller yachts to concentrate on superyachts and commercial tonnage.

We have been contacted by a number of yacht owners seeking to change their port of registry in view of the fee increases.

We are recommending that owners consider the transfer of their vessels to either the UK or Jersey registries.

Both the UK and Jersey registries provided an equivalent British flag ‘red ensign’ title registry but on a far more cost effective basis with competitive ‘one off’ rather than annual fees providing a registration valid for five years for the UK and ten years for Jersey.

Oceanskies are pleased to offer an alternative cost-effective registration transfer of port package to owners of Isle of Man registered pleasure vessels wishing to transfer their port of registry either to the UK or Jersey as follows at a discounted price of £1,500.00.

The UK package is offered to private yachts of any size and provides a fast interim provisional registration valid for three months, the provision of a permanent Certificate of British Registry valid for five years and a lifetime radio licence allocating vessel call sign and MMSI number.

The Jersey package is offered to private yachts up to the maximum Jersey tonnage limit of 399 GT and provides a fast interim provisional registration valid for three months, the provision of a permanent Certificate of British Registry valid for ten years and a lifetime radio licence allocating vessel call sign and MMSI number.

The savings over a ten year period are considerable and demonstrated below:

12 metres and under
Set-up cost Annual Fees Saving
IoM for 10 years N/A £2500
UK for 10 years £1,500 £75 (payable after 5 years) £925
JERSEY for 10 years £1,500 NONE £1,000

 

Over 12m and under 24m
Set-up cost Annual Fees Saving
IoM for 10 years N/A £5,000
UK for 10 years £1,500 £75 (payable after 5 years) £3,425
JERSEY for 10 years £1,500 NONE £3,500

 

Over 24m
Set-up cost Annual Fees Saving
IoM for 10 years N/A £10,000
UK for 10 years £1,500 £75 (payable after 5 years) £8,425
JERSEY for 10 years £1,500 NONE £8,500

Please do not hesitate to contact us to obtain a free no obligation proposal for Isle of Man yacht registration and overview of the next steps by sending us a copy of your current Isle of Man Certificate of Registry to [email protected]

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