Cayman Islands Yacht Registration

Introduction

The purpose of this guide to highlight the many advantages of the Cayman Islands Shipping Registry and to introduce the comprehensive range of Cayman Islands yacht registration services that we provide.

About the Cayman Islands

The Cayman Islands are an autonomous British Overseas Territory in the western Caribbean Sea. The 264-square-kilometre (102-square-mile) territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located to the south of Cuba and northeast of Honduras, between Jamaica and the Yucatán Peninsula. 

About the Cayman Islands Registry of Ships

The Cayman Islands Shipping Registry is a Category 1 British Register of Ships and is a division of the Maritime Authority of the Cayman Islands.

The Cayman Islands have maintained a shipping registry in the Cayman Islands since 1903.

The Cayman Islands are the number one offshore register for super yachts, with an estimated 15% of the world fleet of yachts over 30m (100ft).

In the range of yachts over 40m (130ft), some 20% of the world’s fleet is registered in the Cayman Islands.

Port of Registry

There are three Cayman Islands ports of registry, namely:

• George Town
• Bloody Bay
• The Creek 

The Flag (‘Ensign’)

Cayman Islands registered vessels can fly either an undefaced red ensign or a red ensign defaced with the Cayman Islands crest 

The Certificate of British Registry

Upon completion of registration formalities a Cayman Islands registered yacht is issued with a Certificate of British Registry.

Eligibility – Yachts

The Cayman Islands will accept private pleasure yachts and commercial yachts of any size that are based and operated anywhere in the world.

Eligibility – Owners

The Cayman Islands Register of Ships is an international register meaning that the register is not just restricted to Cayman citizens or Cayman registered companies.

Citizens and companies from countries listed in the following table are able to register in the Cayman Islands directly in their own name:

Anguilla	France	Madeira
Argentina	French Guiana	Malta
Aruba	Germany	Martinique
Australia	Gibraltar	Marshall Islands
Austria	Greece	Monaco
Azores	Guadeloupe	Netherlands
Bahamas	Guernsey	New Zealand
Bahrain	Hong Kong	Norway
Barbados	Hungary	Peoples Republic of China
Belgium	Iceland	Portugal
Bermuda	India	Romania
Brazil	Ireland	Singapore
British Virgin Islands	Isle of Man	Slovakia
Bulgaria	Israel	Slovenia
Canada	Italy	Spain
Canary Islands	Japan	Sweden
Cyprus	Jersey	Switzerland
Czech Republic	Kingdom of Netherlands	United Arab Emirates
Denmark	Latvia	United Kingdom
Estonia	Liechtenstein	United States of America
Faroe Islands	Lithuania
Finland	Luxembourg

Summary of Features & Benefits of Yacht Registration in the Cayman Islands

• The Cayman Islands are a neutral, politically stable and well-regarded jurisdiction that has been white-listed as a transparent and well-regulated offshore finance centre
• Member of the coveted ‘Red Ensign Group’ of British ship registries and Cayman Islands yacht registration enables the prestigious red ensign to be flown
• Government funded, operated, backed and staffed ship registry
• Neutral port of registry marked on the vessel holding the reputation of a quality register that is familiar to port and customs authorities around the world
• High service levels driven by a customer first service ethos resulting in quick turnaround of applications
• The availability of a ‘Ship Under Construction’ registration allows yachts to be registered whilst under construction to provide owners with greater security during the build of their vessels 
• Wealth of experience – many yachts current on the register
• Competitive registry fees
• No insurance premium tax (6% in UK)
• International offices facilitate the ease of transacting in different time zones 
• Cayman Islands registration is valid internationally and documentation issued in English so widely understood.
• Cayman Islands registered yachts do not have to ever physically visit the Cayman Islands
• The Cayman Islands Register of Ships provides proof of title and enables the owner to register a mortgage on the vessel
• Yachts can be coded and operated as commercial charter yachts on the register
• Entitlement to register includes a wide range of global citizens which can avoid the need for company formation for the majority of potential clients
• Cayman Islands registered yachts are entitled to diplomatic protection, British consular assistance and Royal Naval protection (dependent on availability of assets/& nature of the threat)

Cayman Islands Yacht Registration By Oceanskies

Oceanskies provides a fixed fee yacht registration service to all yacht owners wishing to take advantage of the benefits of Cayman Islands registration for their yacht.

The registration service results in Oceanskies taking responsibility for the entire registration process on behalf of the owner.

Our fees include all registry fees and disbursements providing the internationally recognised Cayman Islands Certificate of British Registry and a lifetime radio licence allocating the vessel’s call sign and MMSI number.

Example Pricing

Our fixed fee yacht registration package for the Cayman Islands  registration of any  private yacht under 24 metres in registered length lying within the EU costs only £5,250.00 in year one and then £1,450.00 per annum in second and subsequent years and includes:

• Full Certificate of British registry
• Provision of Cayman Islands  representative person
• Tonnage Survey Onboard vessel lying in EU
• All registry fees
• Radio licence allocating call sign & MMSI number

Crew Employment & Payroll for Cayman Islands Registered Yachts

Through Oceanskies Crew Limited we are able to provide crew payroll outsourcing services from for crew working onboard Cayman Islands registered vessels.

This service is a very popular ‘bolt on’ service for our clients as it simplifies the employment of the crew of their Cayman Islands registered yacht.

The yacht owner engages Oceanskies Crew Limited to employ and pay the crew of their vessel through a crew services agreement. As employers, Oceanskies Crew Limited issues the crew with contracts in line with the Marine Labour Convention guidelines, pays them, issues payslips, sea service testimonials etc.

For further information please refer to the crew employment and payroll section of our website.

Other Cayman Islands Registration Services by Oceanskies

Oceanskies are able to provide a range of stand-alone fixed fee additional registration services including:

• Arrangement of Cayman Islands representative person facilities;
• Registration of yachts under construction as ‘Ship Under Construction’;
• Registration of new owner details in event of vessel transferring to a new owner qualified to maintain Cayman Islands registration;
• Drafting of sale documents such as a Bill of Sale in the Cayman Islands format and any supporting documentation required by the Buyer of the vessel;
• Transfers of vessel registration to the Cayman Islands from other British registries, (and vice versa);
• Performance of tonnage surveys and issue of Certificates of Survey for Cayman Islands registration on vessels under 24 metres in loadline length;
• Effect change of vessel name;
• Make amendments to registered particulars of vessel;
• Manufacture and supply of tonnage plates displaying official number for Carving & Marking purposes;
• Registration / discharge of marine mortgages;
• Arrange deletion / cancellation of Cayman Islands registration to provide a Closed Transcript of Registry (Deletion Certificate); and
• Obtain Current Transcripts of Registry to provide at the time of issue a ‘snapshot’ of the register confirming:
  
  – Vessel dimensions and particulars such as the builder, length, breadth, tonnage, year of build and engine details;
  – Details of the current registered owner; and
  – Details of any mortgages or encumbrances such as a bank loan registered against the vessel.