The process of registration of yachts and ships

Registration of yachts and sea vessels for an offshore company

In most cases, offshore companies are used for financial, trading or holding purposes, but they have another interesting area of u200bu200buse - yacht registration and registration of ships to an offshore company. Recently, the demand for such services in Ukraine has grown significantly. In this article, we will tell you about the registration of yachts for an offshore company, the benefits and benefits of this process.

Benefits of registering yachts under an offshore flag and registering ships in offshore jurisdictions

1. Registration of ships to an offshore company ensures confidentiality
   The first and main advantage of registering yachts under an offshore company is confidentiality. If the registration of the vessels you own was carried out on an offshore company, this protects you from claims of third parties and from claims that will not be brought against you, but against the offshore company to which the yacht or vessel is registered. This will relieve you of unnecessary business risks associated with competition and insolvency, and personal claims.
2. Tax optimization when registering ships and yachts under an offshore flag
   Registration of ships under an offshore flag allows you to reduce tax costs. Most offshore jurisdictions offer favorable conditions for the registration of yachts and ships, as well as for the annual renewal of yacht registration. Often in such cases there are no direct taxes on income from the use of the vessel, and in many jurisdictions there are indirect taxes. Thus, the registration of yachts and ships under an offshore company is beneficial due to cost reduction.
3. A simplified system for registering ships, ships or yachts.
   The most profitable way is to purchase a vessel on the secondary market or directly from the manufacturer. This method is also suitable if confidentiality is in the first place - in this case, the connection between you and the vessel cannot be determined, since the registration of yachts is made to an offshore company. Such a transaction for the registration of ships and yachts can take about 2-3 weeks. If you are officially the owner of the vessel and want to register a yacht for an offshore company, then it will be quite difficult to comply with the principles of confidentiality. In this case, you will have to use complex schemes, to carry out a number of different operations to register the yacht. However, we are resolving this issue and we can help you in registering yachts for an offshore company. Terms of the transaction - about 1-3 months. The process of buying and selling ships is quite simple and allows you to save a lot of time and money. Such transactions for the registration of ships are also tax-free, which is important, given the cost.
4. Customs formalities regarding the registration of ships.
   An offshore company is also suitable for the registration of yachts and ships due to the low cost of customs duties. In Ukraine, the cost of customs clearance of ships is quite high - 10-20% duty, plus 20% VAT. It is more profitable for the owner to register yachts and ships under an offshore company, because this greatly reduces customs costs. In many offshore areas, the taxation of yacht registration and ownership is quite low. If the registration of sea vessels or yachts was carried out for an offshore company, the owner has the opportunity to avoid paying taxes on income from the use of the vessel, and in some cases, when registering vessels, customs duties and value added tax can also be avoided. For example, when registering yachts in the British Virgin Islands for the commercial use of the vessel, there is no tax on income received (income should not be related to the islands themselves, and small vessels can be registered)
5. Ease of transfer of ownership of the vessel
   The absence of tax and bureaucratic costs is one of the benefits of registering yachts and registering ships with an offshore company. In fact, the shares of the company are being sold, not the ship itself. This allows you not to change the owner in the register and avoid additional red tape when registering ships for an offshore company. Of course, such a “sale of the ship” has no tax consequences.
6. Boat Ownership Security
   When registering ships and yachts to an offshore company, the owner is personally protected from claims and lawsuits, which in this case will be brought against the offshore company. Such claims will be considered at the place of registration of yachts, which also plays a significant role.
7. Terms of registration of ships and yachts
   The procedure for registering ships or yachts takes about 2-3 weeks from the date of submission of all necessary documents.