British Virgin Islands yacht registration
Virgin Islands Shipping Registry
What Virgin Islands Shipping Registry publishes about registering a yacht on the British Virgin Islands register.
- Register
- Virgin Islands Shipping Registry
- Official registry site
- bvimaritime.vg
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Common questions
How much does it cost to register a yacht in the British Virgin Islands?Link to this section
The initial registration fee is the charge the Virgin Islands Shipping Registry levies under the Merchant Shipping Fees and Charges part of the Statutory Rates, Fees and Charges Act: 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. The annual fee is the recurring charge under the same tariff: 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. The British Virgin Islands levies no per-ton tonnage due on yachts: 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. WhichFlagToFly lists each line with its source and check date in the British Virgin Islands fee rows.
Is there VAT on a yacht registered in the British Virgin Islands?Link to this section
No. The British Virgin Islands has no VAT, and what applies on importation is customs duty under the Customs Management and Duties Act: 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. The basis on which that duty is charged: 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. VAT-paid status in EU waters is a customs question the European Commission's Guidance Note for Pleasure Craft answers without reference to flag: 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. The British Virgin Islands VAT rows carry each source.
How fast is registration in the British Virgin Islands?Link to this section
Provisional registration on the Virgin Islands Shipping Registry takes two forms under the Merchant Shipping Act, a certificate issued abroad and a bridging certificate from the Registrar: 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. Full registration is a published service standard of the Virgin Islands Shipping and Maritime Authority, running from the signed carving and marking note: 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. The British Virgin Islands timeline row carries the standard.
Who can register a yacht in the British Virgin Islands?Link to this section
Owner eligibility on the Virgin Islands Shipping Registry is the statutory list of qualified persons in the Merchant Shipping Act of the Virgin Islands: 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. Vessel eligibility under the same Act turns on a majority interest held by qualified persons, with a representative person for larger yachts with non-resident owners: 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. The British Virgin Islands eligibility rows carry the section references.
Can a BVI-flagged yacht charter commercially?Link to this section
Yes, under one of three regimes. The Virgin Islands Shipping and Maritime Authority's Marine Circular on Yachts Engaged in Trade adds a dual-use route to the pleasure and commercial registrations: 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. Where a Virgin Islands yacht may charter is decided by the coastal state, and the same Circular sets the flag-side limits: 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. The British Virgin Islands charter row quotes the Circular.
Is the British Virgin Islands on the Paris MoU white list?Link to this section
The Paris Memorandum of Understanding publishes White, Grey and Black Lists of flag performance, and a flag its member states inspect rarely can be absent from all three. The position of the Virgin Islands Shipping Registry, and the size of the fleet behind it, are set out below. The Virgin Islands port state control row quotes the report.
| Measure | Published position |
|---|---|
| Paris MoU flag performance list | 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. |
| Size of the register | 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. |
Does a yacht need a survey to register in the British Virgin Islands?Link to this section
Tonnage measurement is the survey a registrar needs before a ship can be described in the register at all, and code certification is the separate question a commercial yacht answers. What the Virgin Islands Shipping Registry requires: 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. The standards its vessels are held to: 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 Virgin Islands survey row carries the source.
How do I transfer a yacht to the British Virgin Islands from another flag?Link to this section
A transfer of flag runs through two registries: one closes its entry and releases the ship, the other opens an entry once the title papers satisfy it. What the Virgin Islands Shipping Registry asks an incoming owner to file: 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. What ends a registration there: 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. The Virgin Islands document row lists each item.
Is the British Virgin Islands part of the Red Ensign Group?Link to this section
Yes. The British Virgin Islands is a United Kingdom Overseas Territory in the Red Ensign Group, the family of British shipping registers, so a yacht it registers is a British ship. The Group divides its members into an unrestricted tier and a tonnage-capped one, and publishes which is which: 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. The Virgin Islands membership row quotes it.
How should an owner choose whether to flag a yacht in the British Virgin Islands?Link to this section
Three inputs decide whether the Virgin Islands Shipping Registry suits a yacht: where the yacht will cruise and which customs territory it enters; whether it will charter, and under which of the three regimes; and who owns it and how the purchase is financed. An owner sets those beside the register's positions and takes the structure to a professional.
Registration
| Item | Answer |
|---|---|
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
VAT & importation
| Item | Answer |
|---|---|
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
Yacht management
| Item | Answer |
|---|---|
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
Marine insurance
| Item | Answer |
|---|---|
| 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. |
| 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. |
Crew placement
| Item | Answer |
|---|---|
| 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 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. |
| 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. |
| 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. |
| 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. |
Refit & yard works
| Item | Answer |
|---|---|
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
Pre-buy survey
| Item | Answer |
|---|---|
| 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. |
| 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. |
| 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. |
| 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. |
| 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. |
Ownership structuring
| Item | Answer |
|---|---|
| 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. |
| 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. |
Crew employment & payroll
| Item | Answer |
|---|---|
| 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. |
| 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. |
Compliance (ISM/ISPS/MLC)
| Item | Answer |
|---|---|
| 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. |
| 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. |
| 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. |
Guides for this register
Services for this register
Our pages on the services an owner arranges alongside registration.
- 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
- Chartering your yacht commercially: licenses, flags and coastal rules
- Central agents: how yachts are marketed for charter
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