Ship and Yacht Management Services

Our Specialist Yacht and Ship Registration Service

WHY THE ISLE OF MAN? 

The Isle of Man has long been recognised as a unique European centre for international shipping business and where, more importantly, it has become the flag of choice for today’s modern maritime business. The Island has also become a convenient base for ship management operations, taking advantage of the low costs involved in operating from the Island, and from the beneficial tax regime currently in force. Enjoying the same time zone as the UK, and never more than one hour different from its European counterparts, the Isle of Man also has easy transport links by both sea and air.

Companies based in the Island can enjoy the quality of life associated with a relaxed island location while making use of exceptional telecommunications links to the rest of the world and the facility to conduct business in the other shipping centres of Europe with ease.

The Island's tax strategy currently provides for a zero rate of corporation tax applicable to shipping related earnings as well as a number of other benefits making the Isle of Man a cost effective centre in which to undertake shipping business.

The Isle of Man has a long established maritime industry and its Shipping Register forms part of the British Register, the first ships having been registered in 1786. The implementation of the 1991 Merchant Shipping Registration Act provided the Isle of Man with a forward-looking legislative framework within which the shipping industry operates.

THE ISLE OF MAN SHIPPING REGISTRY

The Isle of Man Ship Registry celebrated its 30th anniversary in 2014.  It considers itself as  'a centre of excellence', where client focus is paramount, providing a high quality service with significant cost savings over its competitors. The combined expertise of both the Isle of Man Ship Registry and the Cayman National teams, means that pragmatic and bespoke solutions can be provided for all requirements prior to registration and this relationship continues whilst the vessel is in service to ensure the needs of the client can be fully met at all times.

Key  benefits :

  • A high quality professional service,  24/7 with fast response to queries
  • Reasonable costs and no annual tonnage dues
  • A favourable taxation regime designed to encourage business
  • The right to fly the "Red Ensign" and access the support of British consular services world-wide and British Royal Navy protection
  • Flexibility in the requirements for registered owners
  • The availability of Demise registry both "IN" and "OUT"
  • Support for ships treated unfairly by Port State Control
  • Full political support for shipping
  • ISO 9001/2008 Accreditation
  • Not a Flag of Convenience
  • Regular advice bulletins on key issues to help owners respond to them

CAYMAN ISLANDS' REGISTRATIONS

Liaising with our colleagues in the Cayman Islands, we are able to provide a 'representative persons address' which is required for registrations of yachts and ships in the Cayman Islands, particularly attractive to clients outside the European Vat area.

YACHT MANAGEMENT

Cayman National can supply a fully automated, multi-currency payroll system with individual payments to crew members outside of the European Union (EU) eliminating any employers EU national insurance liabilities, allowing for increased efficiency and reduced administration schedules.  The system is also expandable to facilitate the creation of a full back office financial and commercial solution.

Our Crew contracts are fully MCA compliant and conform to all maritime employment legislation.  Crew member details are generated from a central data bank which minimises any potential inputting errors.

The system also covers all aspects of Superyacht administration, automating and centralising all essential data and administrative requirements, keeping track and recording the Yacht and Crew training and eliminating payroll obstacles. Workflow is eased and data is secured properly.

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