It's an important and sometimes overwhelming decision to make. Just where should you flag your yacht for international travel? Certainly there are many things to consider, such as how you will be taxed, how to maintain your personal privacy, where you will be permitted to travel and what your exposure to personal liability will be.
In your independent research of flagging your yacht for international travel, you may come across deals that seem too good to be true and most likely are. For instance, we're aware there are a number of service providers that are providing registrations in countries such as Denmark, Poland, and Belgium – none of which are meant for international use. This deceptive practice which draws the client in with enticing fees and promises could translate to future steep penalties and legal fees. So, protect yourself, do your due diligence, and consider hiring a maritime attorney that can help you flag your yacht for international travel.
CT Corporation can now flag your yacht for international travel in the following jurisdictions:
- (LIYR) Langkawi- A string of Islands off the coast of Malaysia offering straightforward, affordable boat registration. In this jurisdiction, there are no restrictions on where the boat is stored and where it sails, giving clients the freedom to dock their boats anywhere and to travel throughout international waters. Plus, chartering, unlike in many jurisdictions, is an acceptable activity!
- (MI) The Republic of Marshall Islands – On the White List maintained by the Paris Memorandum of Understanding on Port State Control (Paris MoU), this jurisdiction is attractive to boat owners around the world. There is no requirement for Principal Use, which allows for business, (including charters!) or pleasure activities. Currently registration in the Marshall Island is open to vessels that are 40 feet and above.
If you require assistance with flagging your yacht for international travel in Langkawi or Republic of Marshall Islands, our seasoned service team is here to help.