Registration of ships and yachts
It is relatively easy to avoid third-party claims against your property. Simply you need to draw your property to an offshore company. In the case of property claims lawsuits are not addressed to you but to an offshore company and such claims will be considered in the courts of the place of incorporation. Thus, the registration of a ship at an offshore company will allow you to minimize both the business risks associated with competition, insolvency and possible personal claims.
Making ship ownership in the property on an offshore company
There are two options to make ship ownership in the property of an offshore company:
a) The ship was originally purchased from the manufacturer or the "secondary market";
b) the ship is already in your property, but you want to pass on the ownership to an offshore company. Both options are possible, but if you want to keep confidentiality, option a) has an advantage because the communication between you and the ship cannot be traced. In case b) the requirements for privacy of ownership by the offshore company may be higher. It is possible to achieve the desired level of privacy through the implementation of a trust scheme. Also it is possible trough chain of successive transactions in order to create the most reasonable constraints to conduct any study of this issue by any third party who is unauthorized by law.
The registration procedure in any offshore jurisdiction is usually not more than two weeks after submission of all documents.
Most of offshore jurisdictions have favorable conditions for registration of ships and the annual renewal of such registration. These conditions are usually supplemented by no taxation on income derived from the use of the ship and, depending on the jurisdiction, no indirect taxes (VAT / VAT) and customs duties.
Transfer of ship ownership
Lacking fiscal and bureaucratic costs in the sale of the ship is one of the important advantages when registering it at an offshore company. It is not selling the actual ship but the company's shares which the ship belongs to. Effectively it allows you to not to change the owner of the ship in the registry and not to undergo additional procedures when changing the real owner. Of course such a "sale of the ship" has no taxation consequences.
If you need as soon as possible to issue all necessary documents in accordance with the requirements of international law, contact our specialists by phone
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