About usGibraltar Boat Registration – from £1150 GBP
The Gibraltar Ship Register is a great choice for all vessel owners who want to be part of the British Register and fly the Red Ensign at a low cost. The Gibraltar flag registration is a straightforward, simple procedure with 4 different categories of registration: full, bareboat, provisional or vessel under construction. British Citizens, British Dependent Territories citizens, British Overseas citizens and EU or EEA nationals and companies registered within the EU or EEA may register a vessel in Gibraltar provided they have a majority interest in the vessel’s ownership.
Therefor a non-EU citizen can easily register a vessel in Gibraltar by setting up a dormant UK LTD. or Gibraltar LTD. to hold there boat in ownership and comply with the Gibraltar boat registration rules. We can setup either the UK LTD or Gibraltar LTD for you in a matter of days.
Gibraltar’s perfect location has made it a popular haven for yachts and leisure craft. As a entrance point to the Mediterranean and the Atlantic, it serves as a provisioning stop for yachts embarking on an Atlantic crossing – an added attraction being its duty free status for liquor and fuel, excellent selection and availability of quality dry goods and those familiar items essential for transatlantic passages. In addition the fuel prices run about 40% less than for instance in Spain.
The most common way to register a vessel is under a UK LTD. or Gibraltar corporate structure. This has several advantages such as confidentiality and it can be arranged that your name does not appear on any yacht or company documents. The onerous task of changing ownership details at the Yacht Registry can be overcome by simply transferring ownership of the company. Ownership though a structure can also overcome costly inheritance tax issues, provide inheritance tax benefits and provide asset protection.
What are the advantages of Gibraltar yacht registration?
- The yacht will fly the defaced British flag (Red Ensign) together with the international recognition, protection and 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.
- Legal title of yacht ownership on registration or transfer of ownership is straightforward.
- All vital details concerning the yacht is contained in the Register, and in the Certificate of British Registry (‘Blue Book’).
- The Register is a public record, open to inspection by interested third parties, such as buyers, and/or potential lenders, offering security as to title.
- Shareholders or company directors need not be Gibraltar residents
- Gibraltar’s VAT exemption
- The yacht does not need to be surveyed annually
- The registration process is generally fast and straightforward
- The Register enables the owner to dispose of the yacht easily in a cost-effective and timely manner.
- All legal mortgages are required to be registered, enabling interested parties to ascertain from this public record whether a yacht is free from encumbrances or registered liens.
- If the vessel to be registered in new, and has never been registered elsewhere previously, then we would need to be furnished with a Builder's Certificate which should carry the seal or rubber stamp of the Builder(s) and should indicate for whom the vessel was built.
- If the vessel is not a new vessel and is currently registered in a Non-British Flag port, then we need to be furnished with a Bill of Sale which indicates the sale of the vessel to the Gibraltar company, and which needs to be authenticated by a Consul or Notary Public who can bear witness to the nationality of the Vendor.
- If the vessel is currently sailing under the British Flag, then an ordinary Bill of Sale without any form of certification will suffice.
- If the vessel has been purchased from a British subject (or corporation), and it has not be registered previously, then we would require the applicant to provide us with a sequence of Bills of Sales from the initial owner to date.
- Every vessel seeking registration in Gibraltar (except for those meeting the criteria described in point f below) is required to produce a Measurement and Tonnage Survey Certificate which should be carried out by representatives of any of the following recognised syndicates:
- Bureau Veritas
- Lloyds of London
- Germanischer Lloyd
- American Bureau of Shipping
- Norske Veritas
- The Royal Yachting Association
- Yacht Brokers Designers & Surveyors Association.
- If a vessel seeking re-registration in Gibraltar can produce certified documentation pertaining to any EU port authority confirming that the vessel is up-to-date in its compliance with their registration requirements, and assuming that this documentation meets with the approval of the Gibraltar Yacht Registry, then the requirements to have a Measurement & Tonnage Survey carried out on the vessel can be simplified via the homologation of the information appearing on these documents to meet British standards.
How to setup a UK LTD to own the yacht?
Anyone can own a yacht under the Gibraltar flag but only EU nationals may hold the yacht under their personal name, while others would need to hold the yacht through an EU company. It is not required that the owner of the yacht resides in Gibraltar or even in the EU. The place of residence of the owner is not relevant at all.
If you are not an European Union citizen, we will setup a UK LTD. for you and you will transfer the ownership of your vessel into this dormant LTD. As the LTD is only used for owning a boat you will not need to pay any taxes or do any government filings. A bill of sale will have to be signed to transfer ownership of your yacht to your new UK LTD. We will make this bill of sale for you or you can make your own. The total cost for setting this up is only £275 GBP.
We can also setup a Gibraltar company for you:
Please download and fill in our standard Company Application Form which is designed to provide you with a step-by-step approach to the setting-up of your Gibraltar company. If you were to print-off this form and work your way through its sections, you could then e-mail or fax through your completed version so that we can have at our fingertips all the necessary information that we would require in order to proceed with matters on your behalf.
Ultimately, we would require you to send us the original signed document together with all other paperwork listed below:
Please provide us with Certified True Copies of an original utility bill, bank statement, credit card statement, copy of driving licence or ID Card, or similar document (not older than 3 months), to indicate proof of address for every proposed Director, Shareholder, Beneficial Owner and/or Authorised Signatory of the Company.
- N.B. In the case of Corporate Directors and/or Shareholders, we would expect to be furnished with:
- A Certified True Copy of the Certificate of Incorporation
- A Certified True Copy of the Memorandum and Articles of Association.
- A Certificate of Incumbency listing the names and addresses of the Directors and Shareholders of the Company.
Please arrange to provide us with a reference from a banker, lawyer or an accountant to read as per the attached draft, for every proposed Beneficial Owner of the Company.
* N.B. The reference should ideally be addressed to:
Form-A-Co (Gibraltar) Limited
Suite 4, 2nd Floor, The West Wing,
Montarik House, 3 Bedlam Court,
Please provide us with Certified True Copies of passports for every proposed Director, Shareholder, Beneficial Owner and/or Authorised Signatory of the Company.
Please provide us with a copy of your Curriculum Vitae.
What are the cost of registering my boat in Gibraltar?
GBP £ 1150 – TO REGISTER VESSEL WITH PRIVATE OWNER
*does not include Measurement and Tonnage Survey
GBP £ 1425 – TO REGISTER AS GIBRALTAR COPORATE OWNER (WE SETUP AN UK LTD. FOR YOU)
GBP £ 1850 – TO REGISTER AS GIBRALTAR COPORATE OWNER (WE SETUP AN GIBRALTAR LTD. FOR YOU)