|
Post by StillREEL on Mar 7, 2019 15:20:45 GMT
Looking to flag my yacht under the Red Ensign through the BVIs. Pretty straight-forward matter of filling out a few forms. The only issue appears to be finding an agent to act as a BVI resident "Authorizing Person". Found one for $200US but I'm wondering if the yacht registration must be renewed annually or, as I suspect, once your flagged, your flagged.
My concern is that the "annual fee" is an unnecessary cash grab.
Anyone had experience with the BVI or Caymans flag registration?
Thanks
BC
|
|
|
Post by Tafika II on Mar 7, 2019 16:11:04 GMT
GCM is an annual fee and an annual to the government & probably the person you're using as a resident. Use to be you had to visit the home port every 1-3 years, but that may have changed.
|
|
|
Post by Zanshin on Mar 25, 2019 20:57:15 GMT
I believe the fee is annual. The other option is to create a local (I'm in the BVI now) IBC {international business Corporation} for about 900$ per annum and that is owned by you and owns the boat. There is legislation pending in the BVI which might allow British citizens to own a BVI-registered boat directly; and if Brexit doesn't go through then that would also extend to EU-Citizens as well.
|
|