Why are yachts registered in the Cayman Islands?

Why are yachts registered in the Cayman Islands?

One of the main reasons that people register their vessels in the Cayman Islands, is due to the fact that it is a Red Ensign flag and as a British ship the vessel comes under the protection of the British Royal Navy.

Can I register my boat in the Cayman Islands?

You can register yacht as an individual owner or as a company owned vessel in the Cayman Islands.

Why do yachts fly the Cayman Island flag?

However, registering a yacht in a locale like the Caymans — under what has come to be known as a “flag of convenience” — allows those American yacht owners to effectively characterize themselves as foreigners for tax purposes, thereby avoiding the obligation of paying the standard sales and use levies, while enjoying …

Why do yachts have Cayman flags?

As I mentioned above, the Cayman Islands is a part of the Red Ensign Group. This means that getting your yacht registration in the Cayman Islands flags your vessels as a British Ship, granting it protection by the British Royal Navy.

Can I register my yacht in Cayman Islands?

Boat registration in the Cayman Islands is performed with the Shipping Registry (CISR), according to the type of vessel. The Registry is a division of the Maritime Authority of the Cayman Islands and it offers a range of services to those who register merchant ships or yachts and other vessels.

Do you have to fly a courtesy flag?

Whilst technically not a ‘legal requirement’ everywhere you could possibly go, there’s never a time when not flying a courtesy flag would provide any kind of benefit. Many authorities will fine you for having a tatty courtesy flag, and some will even refuse entry if one isn’t flown.

Who owns the yacht glory?

The 34.1-metre yacht Glory has been sold with Andrew P. Cilla of Luke Brown Yachts representing the seller and Kevin Frawley of Denison Yachting representing the buyer. Built in 2006 by Westport, Glory underwent a minor refit this year to freshen her up before her sale.

What is the flag of the Cayman Islands?

The flag of the Cayman Islands consists of a Blue Ensign defaced with the coat of arms of the British overseas territory. Adopted in 1959 to supplement the Union Jack and to replace the colonial flag of Jamaica, it has been the flag of the Cayman Islands since the territory was granted self-government that year.

What is involved in flagging a vessel into Cayman?

Flagging into Cayman involves a series of different activities depending on the type of vessel registration required. Our team advises clients on the most appropriate and cost effective ownership structure for their requirements ranging from individual ownership through to a choice of corporate ownership options.

Do I need to test to travel to Cayman Brac?

Securely verified travellers are no longer required to do on-island testing on Days 2,5 and 7. Vaccinated travellers are no longer required to test prior to travel to Cayman Brac and Little Cayman.

Why choose flagcayman?

The FlagCayman team has the experience and contacts to assist clients with the preparation of mortgages and their registration, transfer, and discharge from the Cayman Registry. We assist our clients with the completion of the requisite application forms and the payment process to obtain radio licenses quickly and efficiently.