BVI Yacht Registration

• When registering a yacht in the British Virgin Islands (BVI), you have the option to register either as an individual or under a company. We recommend opting for company registration to avoid liability issues and benefit from additional protections and advantages.
• Individual Yacht Registration: If you choose to register as an individual, you can proceed directly to the next step in the yacht registration process. But before that one thing to keep in mind is that only individuals who are:
  • Citizens of the United Kingdom
  • Citizens of the BVI
  • Citizens of the Caribbean Community and the Organization of Eastern Caribbean States
• Are eligible for individual yacht registration in BVI
• Company Yacht Registration: If you prefer to register under a company and do not yet have an offshore company, we can assist you. Tetra Consultants offers offshore company incorporation services, ensuring a seamless process for registering an offshore company in BVI, which is eligible for yacht registration.
• Various statutory requirements includes:
  • A minimum of 1 director without residency requirements.
  • A minimum of 1 shareholder without residency requirements.
  • A BVI offshore company must have a registered office in the BVI, which is the official address for legal purposes.
  • Appointing a company secretary is not necessary for a BVI offshore company, but it is commonly done to handle signing obligations.
  • Nominee shareholders are allowed in BVI offshore companies, which can provide enhanced privacy for the actual owners of the company.
  • The amount of the authorized capital equals to US$50,000
• Eligibility requirements for BVI Yacht Registration includes:
  • Companies registered in the UK, BVI, European Economic Area (EEA), or European Union (EU) are eligible.
• Compliance of these statutory requirements can be done with various business services provided by Tetra Consultants including nominee director and shareholder services.

• The first step involves understanding the two categories of yacht registration available in the BVI:
• Full Registration: This entails registering the yacht in the BVI, allowing it to fly the BVI flag.
• Provisional Registration: Valid for 90 days, this registration provides temporary validity. If desired, the owner can subsequently apply for Full Registration by furnishing the requisite documentation.
• Tetra Consultants can guide our clients through this initial stage of BVI Yacht Registration, explaining the distinctions between Full and Provisional Registration. We assist clients in determining the most suitable registration option based on their needs and preferences.

• Tetra Consultants play a pivotal role in supporting our clients during the BVI Yacht Registration process by facilitating providing you with the BVI shipping agent. We ensure that our clients receive comprehensive guidance and assistance throughout the registration procedure. Our team works closely with the shipping agent to navigate through the intricacies of registration and to provide any essential information our clients may need.

• Further, we will proceed to oversee the submission of the application and necessary documents to the designated BVI Shipping Agent. Subsequently, we ensure that the agent submits these materials to the Registrar of Shipping for the registration of the yacht. Our role encompasses meticulous oversight of this process, ensuring that all paperwork is accurately completed and promptly delivered to the appropriate authorities. By managing this step on behalf of our clients, we aim to streamline the registration process and alleviate any potential administrative burdens, enabling a smoother and more efficient experience.

• To officially approve the yacht’s name, utilize Form SR101-01, ensuring the chosen name is both new and suitable. The yacht registration process offers flexibility, with registration possible at any of the following three ports:
• Road harbour,
• Gorda sound, or
• White bay.

• Upon submission of the documents as per requirements, they undergo thorough scrutiny and are then allocated a vessel number and an official number.
• Tetra Consultants offer streamlined services to facilitate the acquisition of an official number efficiently. Additionally, we extend our expertise to assist clients in obtaining offshore financial licenses, catering to the needs of companies requiring such permits.

• After the official number is granted, the registrar will issue a carving and marking note containing essential details such as the vessel’s name, port of registry, official number, and registered tonnage.

• Submit payment for yacht registration to the British registrar, with fees varying based on the type and size of the yacht. Upon approval of payment and meeting requirements, you will receive a Certification of Registry, confirming the completion of the registration process.

• Following completion of your yacht registration in the BVI, the next step involves opening a business bank account. Our service for corporate bank account opening streamlines this process, ensuring you have a bank account established within 4 weeks.

Documents required for BVI Yacht Registration

Documents required for individual beneficial owners, directors and shareholders:

• Application Form
• Declaration of Eligibility
• Passport and Visa (Individuals)
• Appointment of Respective Person
• Ownership Proof (Bill or certificate)
• Appointment of Authorized Officer (SR 101-03)
• Certificate of Incorporation (Corporate Entities)
• Proof of Deletion from Previous Registry (if applicable)
• Undertaking to Act as Representative Person (RP) form

Regulatory requirements of BVI company registration for Yacht Registration in BVI

• A company must maintain a minimum of one director who can be an individual or a corporate entity without residency requirements.
• Company must maintain at least one Shareholder who can be an individual and a corporate body without residency requirements.
• Every company registration applicant must also appoint a Company Secretary for itself who can be shareholder or director.
• The Company can avail of a registered address for running business operations in the British Virgin Islands.
• The amount of the authorized capital equals to US$50,000.

Looking for BVI Yacht Registration

• BVI Yacht Registration, whether opting for Full or Provisional Registration, is a meticulous process requiring adherence to regulatory standards. Tetra Consultants offer comprehensive support, ensuring seamless navigation through each step of the registration journey. Beyond yacht registration, our services extend to various comprehensive services, such as corporate bank account opening, legal document drafting, nominee director and shareholder services, and legal representation. With Tetra Consultants, clients receive not only expert guidance in yacht registration but also a full suite of solutions to meet their broader corporate requirements with efficiency and precision.
• Contact us to know more about BVI Yacht Registration and our team will revert back in 24 hours.

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