What is the best flag for my yacht?
There are many elements to consider when choosing a flag for a yacht.
The decision on where to register a yacht is dependent on many factors such as:
i. Nationality, and Residency of OWNER
ii. Commercial or Private Operation
iii. Classification Society certification and Construction Approval
iv. Yacht age and condition
v. Proposed Home Berth and Area of Navigation
vi. Owning Company jurisdiction
vii. Existence of Leasing or Financing
viii. Flexibility of Flag Administration with respect to Commercial Activities
ix. Set-up, Annual Administration and Survey Fees
x. Flag Administration Reputation and Rating with Paris MOU
Rosemont Yacht Services and Management personnel will take all these factors into account before advising on the best Flag Administration and type of registration for the efficient and cost effective operation of the yacht.
As well as considering the impact of the flag on the country where the yacht is cruising you should also consider the following:
â€¢ Experience and Reputation - the reputation of the register is vitally important.
â€¢ Political Stability - how stable is the government and economic environment?
â€¢ Political and consular support given by the Flag State.
â€¢ Registration Process â€“ does the jurisdiction provide a convenient and speedy registration service?
â€¢ Mortgages - security of mortgages registered in the Flag State.
â€¢ Registration Fees - how competitive are the fees imposed by the registry?
â€¢ Manning - how flexible is the registry in its manning requirements?
â€¢ Services - what is the business infrastructure of the Flag State, are there comprehensive, professional support services?
The right answer will depend on the use of the vessel, and the personal circumstances of each owner.