- Non-EU jurisdiction for VAT and crew employment.
- No tax on any profits earned.
Ports of Registry
- Non-EU status.
- 3 ports of registry – George Town, The Creek and Bloody Bay.
- Annual Tonnage tax charged January 1st. Any tonnage accepted.
- No chain of title required for registration – only a Bill of Sale with Deletion Certificate or confirmation Certificate being obtained.
- Ship Under Construction registration or early issue of Official Number and Call Sign available with subsequent MMSI application. Radio licence only issued on full registration.
- Priority processing fees and procedural facilities available for speedy processing. Application and annual fee required for name reservation at each port.
- Cayman Third Schedule FATF approved jurisdictions are qualified for registered ownership.
- Declaration as to use of yacht required.
- Well regulated and favoured for large non-EU yachts.
- Cayman representative required for yacht owned by non Cayman company.
- MCA compliance surveys for vessels over 24m conducted by Cayman surveyors in conjunction with yacht’s Classification Society. Under 24m by Classification Society.