Vessel registration has been in practice in one form or another since the earliest days of trading across the seas. It was used as a means to protect local markets by regulating ships transporting cargo among European nations and to ensure that ships were built locally and used local crews.
Today, every vessel wishing to travel internationally must be registered. Vessel registration is used to document a vessel’s ownership in order to provide evidence of its nationality for international law purposes. The nationality of a vessel allows it to travel wherever citizens of that nation are authorised to travel.
The Advantages of Gibraltar
There are many advantages to registering a vessel in Gibraltar, particularly from the point of view of security and reliability. Vessels registered in Gibraltar are registered on the British flag. International conventions and agreements regarding shipping and safety, ratified by the United Kingdom, apply to Gibraltar.
- The vessel will fly the British Red Ensign) and enjoy the international recognition, protection and unrivaled prestige that comes with it.
- The ability to seek assistance from any of the British embassies and consulates worldwide where the vessel may be situated and protection by the Royal Navy.
- Legal title of vessel ownership on registration of transfer of ownership is a straight forward process.
- All vital details concerning the vessel is contained in the register, and in the certificate of British registry (“blue book”).
- No import duty (provided the vessel is not permanently based in Gibraltar)
- No tax on the sale of the vessel.
- Crew can organise their personal affairs from Gibraltar including everything from banking, investments, insurance, health, legal and tax affairs.
More detail can be found via our website here.