Registering your vessel – Choose the flagship that’s best for you!
How do I go about registering my new vessel? What are the differences between all the various countries I can register my vessel? Which flag state is best for my situation?
If these are some of the questions on your mind, Freedom Yacht Management is here to help lead you through the registration process and discover the flag state that best suits you.
Why is the location of where I register my vessel important and what factors should I consider when choosing my flag state?
The state under which your vessel is registered sets the tone on how its operations will be conducted. The rules and regulations of each state are different so it’s crucial that the state chosen is best suited for your yachting needs. The use of your vessel, personal or charter, can also dictate which flag state is best for you.
Other factors to consider when choosing a flag state are:
- How reputable is the Flag state?
- What is their compliancy rating?
- How responsive and accommodating is the Flag state?
- Does your vessel’s build code match Flag requirements?
How many flag states are there and how do I know which one best serves my interests and yachting objectives?
Many. Prior to selecting a flag state, it is highly recommended that you pursue the proper legal and financial consultation to best ensure your interests are being protected. By contacting Freedom Yacht Management, our professionals will steer you in the right direction as to which flagship certification is best for you!
Some of the more common flagship certifications are listed below along with a brief description of each. Again, selection of your flagship registration is not a decision to be taken lightly and will shape the legal and financial framework your vessel will operate within for years to come. As such, it’s highly recommended that you work with a team of professionals in reaching this decision.
The Bahamas – A popular flagship registration, especially for those owners that want to maintain first class certification. This country requires all vessels carry the certifications necessary for commercial activities.
United States – The tight restrictions associated with this flag make it one of the less popular. Its associated regulations dictate where the vessel is made, nationality of the crew and owner(s), and how its chartering operations are to be conducted.
St. Vincent – The commercial codes of this flag have made it a fit for many vessels in the past. Its regulations sometimes lag behind the more advanced flags, but have still made it fairly popular with many owners.
Marshall Islands – Their interpretation of commercial codes have made their flag a very desirable one, especially for yacht owners who decide to charter their vessels. Under their interpretation, a vessel is behaving in a commercial manner only when it is making a profit. Such stipulations help reduce the costly expense of keeping a vessel commercially certified when it is not being chartered, or otherwise not making a profit.
Cayman Islands – The support given by this country to its registered vessels is one reason it has grown to be one of the most popular registered flags. With a strong presence around the world, the Cayman Islands have garnered a large amount of respect from the yachting community within the past several years.
United Kingdom – Being at the pinnacle of maritime law and application, this flag has been pursued by yacht owners desiring to be at the forefront of developing codes of practice. Highly respected in the maritime industry, this flag also directly impacts other flags as well (Cayman and BVIs) due to their governing status
How do I get started?
Freedom Yacht Management is prepared to set you on the right track by assisting you with your vessel registration. Simply complete the short form to the right and a representative from Freedom Yacht Management will be contacting you shortly!