British Virgin Islands vs St Vincent and the Grenadines for yachts
Everything we track for both registers, side by side. Rows neither register has published show a gap rather than an estimate.
Is the British Virgin Islands or St Vincent and the Grenadines cheaper for yacht registration?Link to this section
The registration fee is the entry charge the Virgin Islands Shipping Registry sets in its Statutory Rates, Fees and Charges schedule and the St Vincent and the Grenadines Maritime Administration sets flat for yachts in its Fees and Taxes schedule. The Virgin Islands bill on the registration anniversary; St Vincent charges an Annual Tax. WhichFlagToFly dates the Virgin Islands and St Vincent fee rows.
| Register | Initial registration fee | Annual fee |
|---|---|---|
| British Virgin Islands | Pleasure vessels pay US$600.00 or US$750.00 and commercial yachts US$750.00 to US$1,500.00, banded by length and tonnage; over 3,000 GT is priced on application to the Registry.Statutory Instrument 2008 No. 41, Statutory Rates, Fees and Charges (Amendment of Schedule) Order, 2008, Part 28 'Merchant Shipping Fees and Charges' - Government of the Virgin Islands, archived copy of the Virgin Islands Shipping Registry schedule of feesbvi.gov.vg (web.archive.org) · Schedule of fees (scanned), Part 28, transcribed by OCR, Regulations 5 and 7 and Schedule 2 (Commercial Yachts) and Regulations 5 and 8 and Schedule 3 (Pleasure Vessels), printed p. 3Retrieved 2026-09-01Effective 2008-07-17Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Yacht annual fees run US$100.00 to US$1,000.00 by length and tonnage band, due on the registration anniversary.Statutory Instrument 2008 No. 41, Statutory Rates, Fees and Charges (Amendment of Schedule) Order, 2008, Part 28 'Merchant Shipping Fees and Charges' - Government of the Virgin Islands, archived copy of the Virgin Islands Shipping Registry schedule of feesbvi.gov.vg (web.archive.org) · Schedule of fees (scanned), Part 28, transcribed by OCR, Regulations 5 and 7 and Schedule 2 (Commercial Yachts) and Regulations 5 and 8 and Schedule 3 (Pleasure Vessels), printed p. 3Retrieved 2026-08-27Effective 2008-07-17Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| St Vincent and the Grenadines | Registration is US$500.00 for a pleasure yacht and US$1,000.00 for a charter or Limited Charter Allowance (LCA) yacht; a change of ownership is US$250.00.Fees and Taxes, St. Vincent and the Grenadines Maritime Administration (registry fee schedule published at svg-marad.com/fees.asp) (archived copy)www.svg-marad.com (web.archive.org) · Registration FeesRetrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Annual Tax on a yacht is a flat US$250.00 per year.Fees and Taxes, St. Vincent and the Grenadines Maritime Administration (registry fee schedule published at svg-marad.com/fees.asp) (archived copy)www.svg-marad.com (web.archive.org) · Annual TaxesRetrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
Which flag is better for EU chartering, the British Virgin Islands or St Vincent and the Grenadines?Link to this section
Charter permission is what a flag lets a yacht do for reward, and both Caribbean flags sit outside the EU maritime cabotage Regulation's protected class. The Virgin Islands Shipping Registry issues Yacht Engaged in Trade certificates under its Marine Circular. St Vincent runs three regimes under its limited-charter circular. See the charter rows.
| Register | Charter permissions | Private and commercial regimes |
|---|---|---|
| British Virgin Islands | VISMA's circular, whose published text still carries a draft marking, sets up to 84 charter days a year with 12 passengers; non-VAT-paid yachts may start charters only in Monaco, French and Greek waters.Marine Circular 01/2026, 'Virgin Islands Registered Yachts Engaged in Trade', issued 26 May 2026 - Virgin Islands Shipping and Maritime Authoritybvimaritime.vg · §§5.2–5.4Retrieved 2026-08-29Effective 2026-05-26Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Three routes: pleasure, commercial, and Yacht Engaged in Trade allowing up to 84 charter days a year.Marine Circular 01/2026, 'Virgin Islands Registered Yachts Engaged in Trade', issued 26 May 2026 - Virgin Islands Shipping and Maritime Authoritybvimaritime.vg · §1.2Retrieved 2026-08-27Effective 2026-05-26Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| St Vincent and the Grenadines | Coastal states decide; the EU cabotage freedom does not extend to this flag, and charter in home waters is barred.Council Regulation (EEC) No 3577/92 of 7 December 1992 applying the principle of freedom to provide services to maritime transport within Member States (maritime cabotage), EUR-Lexeur-lex.europa.eu · Art. 1(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Three regimes, including a Limited Charter Allowance of 84 days a year for private yachts.Circular YAT 005 Rev 3, Pleasure (Private) Yachts With Limited Charter Allowance, 20 February 2019, St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · Section IRetrieved 2026-08-27Effective 2019-02-20Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
How does VAT differ between the British Virgin Islands and St Vincent and the Grenadines?Link to this section
Import VAT is the tax charged on a yacht entering a tax territory. The British Virgin Islands levy no VAT; arriving yachts meet customs import duty under the Customs Management and Duties Act on open-market value. St Vincent and the Grenadines charge VAT under their own Value Added Tax Act at the categories the Inland Revenue Department publishes. See the VAT rows.
| Register | VAT rate | Basis for VAT on import |
|---|---|---|
| British Virgin Islands | No VAT at all; imported yachts meet 5 percent customs import duty instead.Customs Management and Duties Act, 2010 (No. 6 of 2010) - Virgin Islands, published by Virgin Islands Laws Online, Attorney General's Chambers (laws.gov.vg)laws.gov.vg · Schedule 4, heading 89.03Retrieved 2026-09-06Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Duty is a percentage of the open-market value including cost, insurance and freight (CIF) at import; a temporary basis excluding freight and insurance (FOB) ran 1 May to 31 July 2026 and has lapsed.Customs Management and Duties Act, 2010 (No. 6 of 2010) - Virgin Islands, published by Virgin Islands Laws Online, Attorney General's Chambers (laws.gov.vg)laws.gov.vg · Schedule 7, para. 1Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| St Vincent and the Grenadines | VAT is 16 percent standard and 11 percent on accommodation, with zero-rated and exempt categories alongside.Taxes, Inland Revenue Department, Government of Saint Vincent and the Grenadinesird.gov.vc · What is the current rate?Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Import VAT applies to customs value plus freight, insurance and duty, and yachts carry 20 percent import duty.Value Added Tax Act No. 25 of 2006, Saint Vincent and the Grenadines (Government Printer, Campden Park), read from the Organization of American States Departamento de Derecho Internacional repositorywww.oas.org · s. 26(1)(a)Retrieved 2026-08-27Effective 2023-01-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
Which register is faster, the British Virgin Islands or St Vincent and the Grenadines?Link to this section
Provisional registration is short-term entry before the full certificate, and both registers use it as the way in. The Virgin Islands Shipping Registry issues a provisional certificate abroad or a bridging certificate from the Registrar. St Vincent issues one abroad through the proper officer under the Shipping Act. Compare the timeline rows.
| Register | Provisional registration | Time to full registration |
|---|---|---|
| British Virgin Islands | Provisional certificates are available: a three-month certificate issued abroad, or a US$250.00 bridging certificate from the Registrar.Merchant Shipping Act, 2001 (No. 13 of 2001) - Virgin Islands, published by the Virgin Islands Shipping and Maritime Authority on bvimaritime.vgbvimaritime.vg · s. 27(3)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | The certificate follows the signed Carving and Marking Note: VISMA's service standard is two working days, its marketing says 24 hours.Service Standards, Why BVI page - Virgin Islands Shipping and Maritime Authority (bvimaritime.vg)bvimaritime.vg · Service StandardsRetrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| St Vincent and the Grenadines | Provisional certificates run six months, extendable by a further six, and are issued abroad.Shipping Act 2004 (No. 11 of 2004), Saint Vincent and the Grenadines, as published by the St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · s. 28(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Twelve months on a provisional certificate is the outer limit; no processing time is published.Shipping Act 2004 (No. 11 of 2004), Saint Vincent and the Grenadines, as published by the St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · s. 28(3)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
How should an owner choose between the British Virgin Islands and St Vincent and the Grenadines?Link to this section
Between these two Caribbean flags the deciding inputs are the owner's: the port state control record the yacht will meet where she cruises, whether charter revenue is intended, and how the owning entity is formed. A specialist can weigh both registries against those.
At a glance
The dimensions owners decide on, taken from the rows below. Follow a label to the row it came from and its source.
| Dimension | British Virgin Islands | St Vincent and the Grenadines |
|---|---|---|
| Red Ensign Group | Yes | No |
Line by line
| Item | VGBritish Virgin IslandsVirgin Islands Shipping Registry | VCSt Vincent and the GrenadinesSt Vincent and the Grenadines Maritime Administration |
|---|---|---|
| Registration | ||
| Who may own a registered vessel | Virgin Islands, British, EU, EEA and Commonwealth nationals and companies qualify; others may hold a minority interest.Merchant Shipping Act, 2001 (No. 13 of 2001) - Virgin Islands, published by the Virgin Islands Shipping and Maritime Authority on bvimaritime.vgbvimaritime.vg · s. 4(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Foreign companies register through a registered agent in Saint Vincent and the Grenadines; a foreign individual is not a qualified owner. Keeping the agent typically costs an estimated US$900 to US$2,100 a year on providers' published prices.Shipping Act 2004 (No. 11 of 2004), Saint Vincent and the Grenadines, as published by the St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · s. 6(1)Retrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Which vessels qualify | At least 33 of a ship's 64 shares must be owned by qualified persons; a yacht of 24 m or more with non-resident owners needs a local representative person.Merchant Shipping Act, 2001 (No. 13 of 2001) - Virgin Islands, published by the Virgin Islands Shipping and Maritime Authority on bvimaritime.vgbvimaritime.vg · s. 5(2)–(3)Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Vessels older than 18 years (15 for tankers) need a preliminary Flag State survey and the Administration's special consideration before registration; it is not an automatic bar.Circular REG 001 Rev. 1, Additional procedure for registration and change of Flag surveys, 10 September 2014, St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · para. 1Retrieved 2026-09-01Effective 2014-09-10Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Private and commercial regimes | Three routes: pleasure, commercial, and Yacht Engaged in Trade allowing up to 84 charter days a year.Marine Circular 01/2026, 'Virgin Islands Registered Yachts Engaged in Trade', issued 26 May 2026 - Virgin Islands Shipping and Maritime Authoritybvimaritime.vg · §1.2Retrieved 2026-08-27Effective 2026-05-26Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Three regimes, including a Limited Charter Allowance of 84 days a year for private yachts.Circular YAT 005 Rev 3, Pleasure (Private) Yachts With Limited Charter Allowance, 20 February 2019, St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · Section IRetrieved 2026-08-27Effective 2019-02-20Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Initial registration fee | Pleasure vessels pay US$600.00 or US$750.00 and commercial yachts US$750.00 to US$1,500.00, banded by length and tonnage; over 3,000 GT is priced on application to the Registry.Statutory Instrument 2008 No. 41, Statutory Rates, Fees and Charges (Amendment of Schedule) Order, 2008, Part 28 'Merchant Shipping Fees and Charges' - Government of the Virgin Islands, archived copy of the Virgin Islands Shipping Registry schedule of feesbvi.gov.vg (web.archive.org) · Schedule of fees (scanned), Part 28, transcribed by OCR, Regulations 5 and 7 and Schedule 2 (Commercial Yachts) and Regulations 5 and 8 and Schedule 3 (Pleasure Vessels), printed p. 3Retrieved 2026-09-01Effective 2008-07-17Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Registration is US$500.00 for a pleasure yacht and US$1,000.00 for a charter or Limited Charter Allowance (LCA) yacht; a change of ownership is US$250.00.Fees and Taxes, St. Vincent and the Grenadines Maritime Administration (registry fee schedule published at svg-marad.com/fees.asp) (archived copy)www.svg-marad.com (web.archive.org) · Registration FeesRetrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Annual fee | Yacht annual fees run US$100.00 to US$1,000.00 by length and tonnage band, due on the registration anniversary.Statutory Instrument 2008 No. 41, Statutory Rates, Fees and Charges (Amendment of Schedule) Order, 2008, Part 28 'Merchant Shipping Fees and Charges' - Government of the Virgin Islands, archived copy of the Virgin Islands Shipping Registry schedule of feesbvi.gov.vg (web.archive.org) · Schedule of fees (scanned), Part 28, transcribed by OCR, Regulations 5 and 7 and Schedule 2 (Commercial Yachts) and Regulations 5 and 8 and Schedule 3 (Pleasure Vessels), printed p. 3Retrieved 2026-08-27Effective 2008-07-17Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Annual Tax on a yacht is a flat US$250.00 per year.Fees and Taxes, St. Vincent and the Grenadines Maritime Administration (registry fee schedule published at svg-marad.com/fees.asp) (archived copy)www.svg-marad.com (web.archive.org) · Annual TaxesRetrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Tonnage dues | No per-ton or per-voyage tonnage due; registered yachts pay a flat annual fee by band instead.Statutory Instrument 2008 No. 41, Statutory Rates, Fees and Charges (Amendment of Schedule) Order, 2008, Part 28 'Merchant Shipping Fees and Charges' - Government of the Virgin Islands, archived copy of the Virgin Islands Shipping Registry schedule of feesbvi.gov.vg (web.archive.org) · Schedule of fees (scanned), Part 28, transcribed by OCR, Regulations 5 and 7 and Schedule 2 (Commercial Yachts) and Regulations 5 and 8 and Schedule 3 (Pleasure Vessels), printed p. 3Retrieved 2026-08-27Effective 2008-07-17Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Yachts pay a flat US$250.00 annual tax whatever their tonnage, with two years due before registration.Fees and Taxes, St. Vincent and the Grenadines Maritime Administration (registry fee schedule published at svg-marad.com/fees.asp) (archived copy)www.svg-marad.com (web.archive.org) · Annual TaxesRetrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Provisional registration | Provisional certificates are available: a three-month certificate issued abroad, or a US$250.00 bridging certificate from the Registrar.Merchant Shipping Act, 2001 (No. 13 of 2001) - Virgin Islands, published by the Virgin Islands Shipping and Maritime Authority on bvimaritime.vgbvimaritime.vg · s. 27(3)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Provisional certificates run six months, extendable by a further six, and are issued abroad.Shipping Act 2004 (No. 11 of 2004), Saint Vincent and the Grenadines, as published by the St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · s. 28(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Time to full registration | The certificate follows the signed Carving and Marking Note: VISMA's service standard is two working days, its marketing says 24 hours.Service Standards, Why BVI page - Virgin Islands Shipping and Maritime Authority (bvimaritime.vg)bvimaritime.vg · Service StandardsRetrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Twelve months on a provisional certificate is the outer limit; no processing time is published.Shipping Act 2004 (No. 11 of 2004), Saint Vincent and the Grenadines, as published by the St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · s. 28(3)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Mortgage registration | Mortgages register in production order, and that order alone fixes priority; barred later mortgages are void.Merchant Shipping Act, 2001 (No. 13 of 2001) - Virgin Islands, published by the Virgin Islands Shipping and Maritime Authority on bvimaritime.vgbvimaritime.vg · s. 80(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Mortgages rank strictly by order of registration; a registered ban on further mortgages makes any breach null and void.Shipping Act 2004 (No. 11 of 2004), Saint Vincent and the Grenadines, as published by the St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · s. 68(1)Retrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Survey requirements | Every ship must be surveyed and her tonnage measured before registration, by class or an authorized surveyor.Merchant Shipping Act, 2001 (No. 13 of 2001) - Virgin Islands, published by the Virgin Islands Shipping and Maritime Authority on bvimaritime.vgbvimaritime.vg · s. 13(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | A pre-registration tonnage survey applies, then renewal surveys every five years and dry docking every 36 months.Shipping Act 2004 (No. 11 of 2004), Saint Vincent and the Grenadines, as published by the St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · s. 14(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| MCA code equivalents | Virgin Islands vessels meet the same safety, security and environmental standards as UK vessels; commercial yachts under 24 m need a certificate under the relevant MCA (UK Maritime and Coastguard Agency) Code of Practice.British Virgin Islands Procedure for First (Initial) Registration, and Summary of Registration Requirements (FAQs) - Virgin Islands Shipping Registry brochure, bvimaritime.vgbvimaritime.vgRetrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | The flag applies its own yacht codes, accepting the UK Large Yacht Code LY3 as equivalent to the Load Line Convention.Safety Code of Practice for Pleasure Yachts Engaged in Commercial Trade, SVG Code Edition 2008 Rev. 7, St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · § 4.2.2Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Charter permissions | VISMA's circular, whose published text still carries a draft marking, sets up to 84 charter days a year with 12 passengers; non-VAT-paid yachts may start charters only in Monaco, French and Greek waters.Marine Circular 01/2026, 'Virgin Islands Registered Yachts Engaged in Trade', issued 26 May 2026 - Virgin Islands Shipping and Maritime Authoritybvimaritime.vg · §§5.2–5.4Retrieved 2026-08-29Effective 2026-05-26Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Coastal states decide; the EU cabotage freedom does not extend to this flag, and charter in home waters is barred.Council Regulation (EEC) No 3577/92 of 7 December 1992 applying the principle of freedom to provide services to maritime transport within Member States (maritime cabotage), EUR-Lexeur-lex.europa.eu · Art. 1(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Crew certification requirements | UK STCW regulations apply wholesale, adopted into Virgin Islands law and updated automatically when the UK amends them.Marine Circular No. 10/2025, 'Adoption of the Merchant Shipping (Standards of Training, Certification and Watchkeeping) Regulations 2022' - Virgin Islands Shipping and Maritime Authoritybvimaritime.vgRetrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | STCW or MCA officer certificates must carry a flag endorsement, alongside a Safe Manning Document.Shipping Act 2004 (No. 11 of 2004), Saint Vincent and the Grenadines, as published by the St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · s. 99(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Maritime Labour Convention applicability | Commercially operated yachts fall inside the Maritime Labour Convention; pleasure vessels are expressly excluded.Merchant Shipping (Maritime Labour Convention) Regulations, 2019 - Virgin Islands, published by the Virgin Islands Shipping and Maritime Authoritybvimaritime.vg · reg. 3(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Commercial yachts meet the MLC at any tonnage; certification is voluntary, inspection falls every three years.Safety Code of Practice for Pleasure Yachts Engaged in Commercial Trade, SVG Code Edition 2008 Rev. 7, St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · § 14.8.1Retrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Paris MoU standing | Not listed on the Paris MoU White, Grey or Black flag performance lists for 2025.Performance Lists, Paris MoU 2025 Annual Report (published 1 July 2026) - Paris Memorandum of Understanding on Port State Controlparismou.org · Flag Performance White List, Grey List and Black List tables, Performance Lists page of the 2025 Annual ReportRetrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Grey List, rank 54, with 245 inspections and 19 detentions across 2023 to 2025.Performance Lists, Paris MoU 2025 Annual Report (published 1 July 2026), Paris Memorandum of Understanding on Port State Controlparismou.org · Flag Performance – Grey ListRetrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Documents required | Application, Declaration of Eligibility, title documents, survey and tonnage certificates, company papers and the registration fee.British Virgin Islands Procedure for First (Initial) Registration, and Summary of Registration Requirements (FAQs) - Virgin Islands Shipping Registry brochure, bvimaritime.vgbvimaritime.vgRetrieved 2026-08-27Effective 2024-08-20Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | A bill of sale, corporate good standing certificate, tonnage certificate, P&I entry and an inspection report are required.PRO 005, Procedure for the Registration of Pleasure Yachts from 24m up to 500 GT with No Charter Allowance, 15 June 2015, St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · Administrative requirementsRetrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Renewal cycle | No published certificate validity period; annual fees fall due each registration anniversary.Merchant Shipping Act, 2001 (No. 13 of 2001) - Virgin Islands, published by the Virgin Islands Shipping and Maritime Authority on bvimaritime.vgbvimaritime.vg · s. 65(1)(d)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Tax falls annually at US$250.00, while compliance documents run five years.Shipping Act 2004 (No. 11 of 2004), Saint Vincent and the Grenadines, as published by the St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · s. 9(1)(b)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Deregistration process | Registration ends on the owner's application, total loss, lost eligibility or unpaid fees, with mortgagees notified.Merchant Shipping Act, 2001 (No. 13 of 2001) - Virgin Islands, published by the Virgin Islands Shipping and Maritime Authority on bvimaritime.vgbvimaritime.vg · s. 8(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Owners may close registration voluntarily, but mortgagees must be notified and can block it outright.Shipping Act 2004 (No. 11 of 2004), Saint Vincent and the Grenadines, as published by the St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · s. 9(1)(d)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Register size | An estimated 2,500 vessels, from small yachts to an 82 m superyacht, on the Red Ensign Group's figure; the only official statistic is UNCTAD's (UN Trade and Development) count of 29 ships of 100 gross tons and over.British Virgin Islands member-register page, Red Ensign Group (redensigngroup.org), the group of British ship registrieswww.redensigngroup.orgRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | 788 ships and 2.63 million deadweight tonnes on UNCTAD figures; the register itself publishes no fleet count.Maritime profile: Saint Vincent and the Grenadines, UNCTAD Data Hub (UNCTADstat country profile), United Nations Conference on Trade and Developmentunctadstat.unctad.org · Maritime key figures for 2024Retrieved 2026-09-01Effective 2024-01-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Red Ensign Group membership | Member of the Red Ensign Group, on its Category 1 list, which takes ships of unlimited tonnage and type.Red Ensign Group, 'Who we are' (About the Red Ensign Group), redensigngroup.orgwww.redensigngroup.org · Who we are, Category 1Retrieved 2026-09-09Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Not a member of the Red Ensign Group, whose published membership is the United Kingdom, the Crown Dependencies and the UK Overseas Territories that operate shipping registers.Red Ensign Group, 'Who we are' (About the Red Ensign Group), redensigngroup.orgwww.redensigngroup.org · Who we are, membership paragraph and both category listsRetrieved 2026-09-09Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| VAT & importation | ||
| VAT rate | No VAT at all; imported yachts meet 5 percent customs import duty instead.Customs Management and Duties Act, 2010 (No. 6 of 2010) - Virgin Islands, published by Virgin Islands Laws Online, Attorney General's Chambers (laws.gov.vg)laws.gov.vg · Schedule 4, heading 89.03Retrieved 2026-09-06Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | VAT is 16 percent standard and 11 percent on accommodation, with zero-rated and exempt categories alongside.Taxes, Inland Revenue Department, Government of Saint Vincent and the Grenadinesird.gov.vc · What is the current rate?Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Basis for VAT on import | Duty is a percentage of the open-market value including cost, insurance and freight (CIF) at import; a temporary basis excluding freight and insurance (FOB) ran 1 May to 31 July 2026 and has lapsed.Customs Management and Duties Act, 2010 (No. 6 of 2010) - Virgin Islands, published by Virgin Islands Laws Online, Attorney General's Chambers (laws.gov.vg)laws.gov.vg · Schedule 7, para. 1Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Import VAT applies to customs value plus freight, insurance and duty, and yachts carry 20 percent import duty.Value Added Tax Act No. 25 of 2006, Saint Vincent and the Grenadines (Government Printer, Campden Park), read from the Organization of American States Departamento de Derecho Internacional repositorywww.oas.org · s. 26(1)(a)Retrieved 2026-08-27Effective 2023-01-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Temporary admission rules | The 180-day duty-free relief in s.74 expressly excludes recreational vessels; what reaches a visiting private yacht is the s.75 non-resident relief and, after 30 days, a temporary importation permit; EU temporary admission runs 18 months.Customs Management and Duties Act, 2010 (No. 6 of 2010) - Virgin Islands, published by Virgin Islands Laws Online, Attorney General's Chambers (laws.gov.vg)laws.gov.vg · s. 74(1) and (5)Retrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | A non-EU flag qualifies for 18 months of EU temporary admission free of duty and VAT.Guidance Note for Pleasure Craft, TAXUD.A.1.003/EC, Brussels, 30 April 2026, European Commission, Directorate-General Taxation and Customs Union (Customs policy)taxation-customs.ec.europa.eu · FAQ 14Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Leasing scheme status | No yacht leasing VAT scheme exists, and there is no VAT for one to attach to.Marine Circular 01/2026, 'Virgin Islands Registered Yachts Engaged in Trade', issued 26 May 2026 - Virgin Islands Shipping and Maritime Authoritybvimaritime.vg · §6.41Retrieved 2026-08-27Effective 2026-05-26Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | No leasing scheme exists; charter hire is taxed by where the yacht is actually used.Value Added Tax Act No. 25 of 2006, Saint Vincent and the Grenadines (Government Printer, Campden Park), read from the Organization of American States Departamento de Derecho Internacional repositorywww.oas.org · s. 14(5)(a)Retrieved 2026-08-27Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Commercial exemption paths | Import duty exemption turns on BVI ownership and BVI registration, not on commercial use.Customs Management and Duties (Amendment) (No. 2) Act, 2025 (No. 15 of 2025), gazetted 29 May 2025 - Virgin Islands, published by the Virgin Islands Shipping and Maritime Authority on bvimaritime.vgbvimaritime.vg · Long title; Schedule 5, para. 23(1)Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Exemption follows international transport, not commercial registration, covering ship's stores, repairs and handling.Value Added Tax Act No. 25 of 2006, Saint Vincent and the Grenadines (Government Printer, Campden Park), read from the Organization of American States Departamento de Derecho Internacional repositorywww.oas.org · Schedule 4, item 24Retrieved 2026-08-27Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Evidence of VAT-paid status | Flag and owner nationality prove nothing; customs assess Union status case by case on documentary evidence.Guidance Note for Pleasure Craft, TAXUD.A.1.003/EC, Brussels, 30 April 2026 - European Commission, Directorate-General Taxation and Customs Union (Customs policy)taxation-customs.ec.europa.euRetrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | No VAT-paid certificate exists; a T2L document or invoice with proof of VAT payment serves instead.Guidance Note for Pleasure Craft, TAXUD.A.1.003/EC, Brussels, 30 April 2026, European Commission, Directorate-General Taxation and Customs Union (Customs policy)taxation-customs.ec.europa.eu · FAQ 1Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Returned goods relief after Brexit | Brexit left the flag's EU position unchanged; only the customs status of the goods moved.Guidance Note for Pleasure Craft, TAXUD.A.1.003/EC, Brussels, 30 April 2026 - European Commission, Directorate-General Taxation and Customs Union (Customs policy)taxation-customs.ec.europa.euRetrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Returned goods relief needs re-import within three years by the same person, plus a Brexit-era special case.Guidance Note for Pleasure Craft, TAXUD.A.1.003/EC, Brussels, 30 April 2026, European Commission, Directorate-General Taxation and Customs Union (Customs policy)taxation-customs.ec.europa.eu · FAQ 8Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Yacht management | ||
| Fee model | Management houses typically charge a fixed monthly retainer scaled to the yacht's size (market guidance puts it at roughly €1,500 to 15,000 or more a month by size) or a share of the operating budget, with charter management charged separately at typically 15 to 20 percent of charter revenue.breezeYachting.swiss - Professional Yacht Management Companies and Their Feeswww.breezeyachting.swissRetrieved 2026-09-01Effective 2025-10-25Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Management houses typically charge a fixed monthly retainer scaled to the yacht's size (market guidance puts it at roughly €1,500 to 15,000 or more a month by size) or a share of the operating budget, with charter management charged separately at typically 15 to 20 percent of charter revenue.breezeYachting.swiss - Professional Yacht Management Companies and Their Feeswww.breezeyachting.swissRetrieved 2026-09-01Effective 2025-10-25Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Fleet size under management | Established management houses typically run fleets of roughly a dozen to 80 yachts, with an industry average of about 24 under management.SuperyachtNews / The Superyacht Group - The Superyacht Management Reportwww.superyachtnews.comRetrieved 2026-09-01Effective 2017-06-12Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Established management houses typically run fleets of roughly a dozen to 80 yachts, with an industry average of about 24 under management.SuperyachtNews / The Superyacht Group - The Superyacht Management Reportwww.superyachtnews.comRetrieved 2026-09-01Effective 2017-06-12Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| ISM document of compliance holder | Yachts Engaged in Trade must meet the ISM Code; under 500 GT a lighter safety management system applies, with no shore-based company needed.VISMA Marine Circular 01/2026, Virgin Islands Registered Yachts Engaged in Trade, issued 26 May 2026, Virgin Islands Shipping and Maritime Authoritybvimaritime.vg · §3.6Retrieved 2026-08-27Effective 2026-05-26Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Commercial yachts of 500 GT and over file copies of the ISM Document of Compliance and Declaration of Company at registration.PRO 002, Procedure for the Registration of Commercial Yachts from 500 GT and over, St. Vincent and the Grenadines Maritime Administration (last update 25/06/2026) (archived copy)www.svg-marad.com (web.archive.org) · Technical requirementsRetrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Crew payroll services | Crew payroll administration is a standard part of a full management mandate, normally run through a dedicated MLC-compliant crew employment company rather than the owning entity.Fraser - Yacht Management Serviceswww.fraseryachts.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Crew payroll administration is a standard part of a full management mandate, normally run through a dedicated MLC-compliant crew employment company rather than the owning entity.Fraser - Yacht Management Serviceswww.fraseryachts.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Jurisdictions served | Management houses routinely operate across multiple flag states, holding Documents of Compliance from several administrations rather than tying owners to one register.Fraser - Yacht Management Serviceswww.fraseryachts.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Management houses routinely operate across multiple flag states, holding Documents of Compliance from several administrations rather than tying owners to one register.Fraser - Yacht Management Serviceswww.fraseryachts.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Marine insurance | ||
| Wreck removal insurance | Every ship in Virgin Islands waters must insure against wreck removal in an amount the Receiver of Wreck accepts; the Nairobi Convention does not apply here.Merchant Shipping Act, 2001 (No. 13 of 2001) - Virgin Islands, published by the Virgin Islands Shipping and Maritime Authority on bvimaritime.vgbvimaritime.vg · s. 54(2)Retrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Saint Vincent and the Grenadines has ratified the Nairobi Wreck Removal Convention, so compulsory wreck-removal insurance applies.Status of IMO Treaties, summary of status of conventions ('x-Status.xlsx'), as at 25 August 2026, International Maritime Organizationwwwcdn.imo.org · NAIROBI WRC 2007, section II (Contracting States), p. 572Retrieved 2026-08-28Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Passenger liability regime | Carrier liability for a passenger's death or injury is capped at 46,666 special drawing rights per carriage under the Athens Convention 1974 regime, which remains extended to the Virgin Islands; the 2002 Athens Protocol is not.Merchant Shipping Act, 2001 (No. 13 of 2001) - Virgin Islands, published by the Virgin Islands Shipping and Maritime Authority on bvimaritime.vgbvimaritime.vg · s. 367(1)Retrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Saint Vincent and the Grenadines has not ratified the Athens passenger liability convention or its protocols.Status of IMO Treaties, summary of status of conventions ('x-Status.xlsx'), as at 25 August 2026, International Maritime Organizationwwwcdn.imo.org · PAL 1974 to PAL PROT 2002, II. Contracting States tables, pp. 359-379Retrieved 2026-08-28Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Crew placement | ||
| Placement fee model | Crew agencies charge the yacht, not the crew member: typically about one month's gross salary for a permanent placement and 20 percent of earnings for temporary work.Northrop and Johnson Crew Services - Terms and Conditions (2023)cdn.northropandjohnson.com · FeesRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Crew agencies charge the yacht, not the crew member: typically about one month's gross salary for a permanent placement and 20 percent of earnings for temporary work.Northrop and Johnson Crew Services - Terms and Conditions (2023)cdn.northropandjohnson.com · FeesRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Crew pool coverage | On published figures, the main crew agencies each hold databases of roughly 40,000 to 50,000 registered candidates, so coverage is effectively global and differentiation is about screening, not database size.The Crew Network (Fraser) - Looking for Crewwww.crewnetwork.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | On published figures, the main crew agencies each hold databases of roughly 40,000 to 50,000 registered candidates, so coverage is effectively global and differentiation is about screening, not database size.The Crew Network (Fraser) - Looking for Crewwww.crewnetwork.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| MLC compliance support | The registry itself surveys the yacht for MLC 2006 compliance and re-checks it at annual verifications.VISMA Marine Circular 01/2026, Virgin Islands Registered Yachts Engaged in Trade, issued 26 May 2026, Virgin Islands Shipping and Maritime Authoritybvimaritime.vg · §3.6Retrieved 2026-08-27Effective 2026-05-26Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Commercial yachts need an MLC inspection every three years; the Maritime Labour Certificate itself is voluntary.Safety Code of Practice for Pleasure Yachts Engaged in Commercial Trade, SVG Code Edition 2008 Rev. 7, St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · § 14.8Retrieved 2026-08-27Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Payroll administration offered | Crew agencies commonly offer payroll administration as an add-on to placement, usually bundled with MLC-compliant employment contracts, tax withholding and visas.Fraser - Yacht Crew Recruitment (The Crew Network)www.fraseryachts.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Crew agencies commonly offer payroll administration as an add-on to placement, usually bundled with MLC-compliant employment contracts, tax withholding and visas.Fraser - Yacht Crew Recruitment (The Crew Network)www.fraseryachts.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Notice and replacement terms | Agencies typically guarantee a free replacement if a permanent crew member leaves within 60 to 90 days, with the leading houses extending that to 180 days.Northrop and Johnson Crew Services - Terms and Conditions (2023)cdn.northropandjohnson.com · Replacement guaranteeRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Agencies typically guarantee a free replacement if a permanent crew member leaves within 60 to 90 days, with the leading houses extending that to 180 days.Northrop and Johnson Crew Services - Terms and Conditions (2023)cdn.northropandjohnson.com · Replacement guaranteeRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Refit & yard works | ||
| Yard network coverage | Refits are routed to a handful of established yard clusters in the Mediterranean, northern Europe, Turkey and the US, with the owner's team tendering the specification across several yards.Hill Robinson - Why Palma is still a leading hub for superyacht refit and maintenancehillrobinson.comRetrieved 2026-09-01Effective 2026-02-25Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Refits are routed to a handful of established yard clusters in the Mediterranean, northern Europe, Turkey and the US, with the owner's team tendering the specification across several yards.Hill Robinson - Why Palma is still a leading hub for superyacht refit and maintenancehillrobinson.comRetrieved 2026-09-01Effective 2026-02-25Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Project management model | The market standard is a dedicated owner's representative or project manager, independent of the yard, running the refit from specification through tender and on-site supervision to redelivery.Superyacht Partners - Yacht Refit Management Serviceswww.superyachtpartners.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | The market standard is a dedicated owner's representative or project manager, independent of the yard, running the refit from specification through tender and on-site supervision to redelivery.Superyacht Partners - Yacht Refit Management Serviceswww.superyachtpartners.comRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Refit fee structure | As a market estimate, refit project management is charged as a percentage of contract value, about 4 to 8 percent on the one published example (€200,000 to 400,000 on a €5 million refit), or on a day rate for shorter jobs.The First Owner's Reference - Superyacht refit cost: when to refit, when to sellfirstownersreference.com · 06 RefitRetrieved 2026-09-01Effective 2026-05-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | As a market estimate, refit project management is charged as a percentage of contract value, about 4 to 8 percent on the one published example (€200,000 to 400,000 on a €5 million refit), or on a day rate for shorter jobs.The First Owner's Reference - Superyacht refit cost: when to refit, when to sellfirstownersreference.com · 06 RefitRetrieved 2026-09-01Effective 2026-05-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Survey oversight offered | Independent survey oversight during a refit is a standard offering, with milestone inspections tied to payment stages and a handover inspection at redelivery.Yacht Designers and Surveyors Association (YDSA) - Types of Surveywww.ydsa.co.uk · Supervision of Construction or RepairsRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Independent survey oversight during a refit is a standard offering, with milestone inspections tied to payment stages and a handover inspection at redelivery.Yacht Designers and Surveyors Association (YDSA) - Types of Surveywww.ydsa.co.uk · Supervision of Construction or RepairsRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Warranty handling | Refit yards typically warrant materials and workmanship for twelve months from redelivery, with outstanding items tracked on a snag list and a retention held until they are closed.Gard (P&I club) - Warranty claims in shipbuilding contractsgard.no · Recommendations and checklistsRetrieved 2026-09-01Effective 2015-03-25Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Refit yards typically warrant materials and workmanship for twelve months from redelivery, with outstanding items tracked on a snag list and a retention held until they are closed.Gard (P&I club) - Warranty claims in shipbuilding contractsgard.no · Recommendations and checklistsRetrieved 2026-09-01Effective 2015-03-25Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Pre-buy survey | ||
| Survey scope options | A pre-purchase survey is normally a full condition survey of hull, machinery and systems, with sea trial, haul-out, engine survey, rig, oil analysis and ultrasonic gauging as separately priced extras.Yacht Designers and Surveyors Association (YDSA) - Types of Surveywww.ydsa.co.ukRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | A pre-purchase survey is normally a full condition survey of hull, machinery and systems, with sea trial, haul-out, engine survey, rig, oil analysis and ultrasonic gauging as separately priced extras.Yacht Designers and Surveyors Association (YDSA) - Types of Surveywww.ydsa.co.ukRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Survey fee structure | Surveyors typically charge per foot on smaller yachts (one published US rate card is US$28 to 30 per foot), moving to day rates or a fixed fee on superyachts, with haul-out, travel and lab testing billed separately.Boston Marine Surveyors - published rate cardbostonmarinesurveyors.com · RatesRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Surveyors typically charge per foot on smaller yachts (one published US rate card is US$28 to 30 per foot), moving to day rates or a fixed fee on superyachts, with haul-out, travel and lab testing billed separately.Boston Marine Surveyors - published rate cardbostonmarinesurveyors.com · RatesRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Time to survey report | Surveyors typically deliver the written report within three to five business days of the inspection, after a verbal debrief on the day.Capt. F.K. Lanier and Associates - Marine Survey FAQcaptfklanier.com · FAQ-7Retrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Surveyors typically deliver the written report within three to five business days of the inspection, after a verbal debrief on the day.Capt. F.K. Lanier and Associates - Marine Survey FAQcaptfklanier.com · FAQ-7Retrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Class records review | On large yachts a review of class records, survey status and flag certificates is standard scope alongside the physical survey.JMS Yachting - Superyacht Pre-Purchase Surveywww.jmsyachting.com · Onboard documentation auditRetrieved 2026-09-01Effective 2025-09-03Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | On large yachts a review of class records, survey status and flag certificates is standard scope alongside the physical survey.JMS Yachting - Superyacht Pre-Purchase Surveywww.jmsyachting.com · Onboard documentation auditRetrieved 2026-09-01Effective 2025-09-03Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Sea trial attendance | Sea trial attendance is standard on a pre-purchase survey, though whether it is inside the quoted fee or billed separately varies by surveyor.Boston Marine Surveyors - published rate cardbostonmarinesurveyors.com · RatesRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Sea trial attendance is standard on a pre-purchase survey, though whether it is inside the quoted fee or billed separately varies by surveyor.Boston Marine Surveyors - published rate cardbostonmarinesurveyors.com · RatesRetrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Ownership structuring | ||
| Owning company minimum capital | No minimum share capital: the memorandum states only the maximum number of shares, and shares may be par value, no par value, partly paid or nil paid.BVI Business Companies Act, Revised Edition 2020, consolidated text published by Virgin Islands Laws Online, Attorney General's Chambers (laws.gov.vg)laws.gov.vg · s. 9(1)(e)Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | No minimum capital applies; a company states authorized capital only if it has one, and pays US$125.00 to incorporate.International Business Companies (Amendment and Consolidation) Act, Chapter 149 (Act No. 34 of 2007, as amended by Act No. 48 of 2007; short title changed to Business Companies (Amendment and Consolidation) Act by Act No. 36 of 2018), Saint Vincent and the Grenadines, WIPO Lexwww.wipo.int · s. 31Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Beneficial ownership disclosure | Beneficial owners are filed with the Registrar within 30 days; the register is not public but a person showing a legitimate interest may apply to inspect it.BVI Business Companies (Amendment) Act, 2024 (No. 15 of 2024), published by Virgin Islands Laws Online, Attorney General's Chambers (laws.gov.vg)laws.gov.vg · s. 96A(1)Retrieved 2026-08-29Effective 2025-01-02Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Beneficial ownership goes to the licensed registered agent before incorporation; there is no central beneficial ownership register, public or non-public, and bearer shares are not permitted.Saint Vincent and the Grenadines, 4th Round Mutual Evaluation Report, Caribbean Financial Action Task Force, adopted at the CFATF November 2023 Plenary in Aruba, as published by the FATF (archived copy)www.fatf-gafi.org (web.archive.org) · para. 27Retrieved 2026-09-01Corroborating source, not the register's own publicationOpen sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Crew employment & payroll | ||
| Seafarer employment agreements | Every commercially run Virgin Islands ship, and every Yacht Engaged in Trade as a condition of its certificate, needs a written seafarer employment agreement with at least seven days' notice; the Director-approved form is obtained from VISMA at application.Merchant Shipping (Maritime Labour Convention) Regulations, 2019 - Virgin Islands, published by the Virgin Islands Shipping and Maritime Authoritybvimaritime.vg · reg. 21(1)Retrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Every seafarer needs a written employment agreement meeting MLC Standard A2.1, with seven days minimum notice to end it early.Circular MLC 002 Rev. 8, Procedures for Maritime Labour Convention Certification, effective 26 December 2020, St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · DMLC Part I, item 4Retrieved 2026-09-01Effective 2020-12-26Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Crew social security | Contributions follow employment in the British Virgin Islands, not the flag; the private rate is 8.5 percent of insurable earnings, 4 percent employee, 4.5 percent employer.Social Security Ordinance, Chapter 266, Laws of the British Virgin Islands, as published by the Virgin Islands Social Security Board (vissb.vg)www.vissb.vg · s. 18(4)Retrieved 2026-08-29Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Crew not resident in Saint Vincent and the Grenadines owe no national insurance there; for crew within the scheme, contributions are 14 percent of insurable earnings in 2026 (7.5 percent employer, 6.5 percent employee) up to EC$1,200 a week.National Insurance Act, Chapter 296 (Act No. 33 of 1986 as amended), Laws of Saint Vincent and the Grenadines Revised Edition, published by National Insurance Services (archived copy)nissvg.org (web.archive.org) · Second Schedule, item 2(a)Retrieved 2026-09-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| Compliance (ISM/ISPS/MLC) | ||
| Commercial yacht code applied | Commercial yachts of 24 m and over, carrying up to 12 passengers, are surveyed against the Red Ensign Group Yacht Code Part A.The Red Ensign Group Yacht Code, Part A: Large Yachts, July 2024 Edition, Red Ensign Groupwww.redensigngroup.org · §1.2(1)Retrieved 2026-09-02Effective 2024-07-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Commercial yachts of 10 meters to 500 GT follow the flag's own safety code; from 500 GT it looks to LY2 or SOLAS certification.Safety Code of Practice for Pleasure Yachts Engaged in Commercial Trade, SVG Code Edition 2008 Rev. 7, St. Vincent and the Grenadines Maritime Administration (archived copy)www.svg-marad.com (web.archive.org) · § 3.1Retrieved 2026-08-28Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| ISM Code applicability | Full ISM Code applies at 500 GT and over; yachts under 500 GT still run a scaled safety management system.The Red Ensign Group Yacht Code, Part A: Large Yachts, July 2024 Edition, Red Ensign Groupwww.redensigngroup.org · §23A.1(1) and §23B.1(1)Retrieved 2026-09-02Effective 2024-07-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | ISM Document of Compliance copies are filed from 500 GT where the Code applies; the code governing smaller commercial yachts sets no safety-management requirement.PRO 002, Procedure for the Registration of Commercial Yachts from 500 GT and over, St. Vincent and the Grenadines Maritime Administration (last update 25/06/2026) (archived copy)www.svg-marad.com (web.archive.org) · Technical requirementsRetrieved 2026-08-28Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
| ISPS Code applicability | Yachts of 500 GT and over must comply with the ISPS Code; Part A of the Code states no requirement below that, which is the Code's silence and not a finding that none applies.The Red Ensign Group Yacht Code, Part A: Large Yachts, July 2024 Edition, Red Ensign Groupwww.redensigngroup.org · §31.1(1)Retrieved 2026-09-02Effective 2024-07-01Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. | Registration filings include the ISPS security set where the Code applies; the flag's code below 500 GT sets no security requirement.PRO 002, Procedure for the Registration of Commercial Yachts from 500 GT and over, St. Vincent and the Grenadines Maritime Administration (last update 25/06/2026) (archived copy)www.svg-marad.com (web.archive.org) · Technical requirementsRetrieved 2026-08-28Open sourceInformational only, not legal, tax or financial advice. Contact a qualified professional for current information. |
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- VAT and importation for yachts and private aircraft
- Yacht management companies: what they do, what they cost, how to choose
- Yacht insurance by flag: what is compulsory and what the market requires
- Finding yacht crew: how agencies work and what owners pay
- Who owns a yacht or a private aircraft? Companies, trusts and the register
- Employing yacht crew: contracts, payroll and social security
- ISM, ISPS and MLC for yachts: what your flag requires
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- Central agents: how yachts are marketed for charter
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