News & Insight Open Menu

Isle of Man Yacht Registration

posted by Dan Armsden

Company

  • An EU jurisdiction for VAT but not always approved by the Italian fiscal authorities for Italian residents (therefore use a UK company).
  • No tax on any profits earned.
  • Companies from other jurisdictions (such as Guernsey or UK) may be registered in the IOM for VAT.

Ports of Registry

  • EU status for VAT but not for Cabotage.
  • 4 ports of registry all of which mirror the EU VAT paid status of a yacht – Douglas, Peel, Ramsey and Castletown.
  • Unlimited tonnage but yachts up to 20 years of age accepted.
  • No chain of title required for registration – only a notarised title document with Deletion Certificate (alternative to a UK port). Easy name reservation procedure.
  • Registration may proceed prior to release of Builder’s Certificate on delivery.
  • Comprehensive list of countries for companies or persons qualified for registered ownership.
  • IOM representative required for all yachts over 24m.
  • No annual Tonnage Tax but additional Light Dues payable if yacht in IOM waters.
  • No manning requirements for private pleasure yachts up to 80 GRT. Vessels of 80 GRT and over require certified deck officers and where the engine power is 750 KW or above, certified engineer officers.
  • Only accept charter yachts over 24 m and in Class.
  • MCA compliance surveys conducted by IOM.

We oversee the whole registration process resulting in the delivery of the Certificate of Registry