Seychelles yacht registration is regulated by the Merchant Shipping Act of 1992. Vessels that are under the age of 15 may apply. A seaworthiness certificate is needed if the vessel is older than this. It is necessary to conduct a survey to confirm that the ship is in good condition for trade and that all class and legal criteria can and will be met.
For offshore ownership of a ship or ship management company with a Seychelles registration, the International Business Company (IBC) is the most effective form.
Refer to Seychelles company incorporation to know more about IBCs in Seychelles. Such a business will not be subject to Seychelles income tax on profits or dividends. Sales and transfers of vessels with Seychelles registrations, or the businesses that own them, are also tax-free, as are the wages paid to officers and crew of vessels with Seychelles registrations.
SHIPPING REGISTRY OF THE SEYCHELLES
The Seychelles Shipping Registry is the final governmental organisation that implements the essential procedures when it comes to yacht registration in the Seychelles. The regulations state that there are a number of standards that must be met in order for a vessel to be registered, and these standards are applicable through:
- A resident of Seychelles
- Offshore companies
- Special License Company
- A boat with a maximum age of 15 years
- Boats up to 25 years of age can be registered with the use of specific documentation.
DOCUMENTS REQUIRED TO REGISTER A YACHT IN SEYCHELLES
- The Proposed Names List
- Application form for Yacht Registration
- Declaration of Ownership
- Certificate of Incorporation (IBC/SIBA)
- Copy of Memorandum of Association
- Articles of Association Copies
- a copy of the previous registration certificate
- Copy of Insurance
- Deletion Certificate (if applicable)
- Bill of Sale
- Proof of the authorization of a person to sign on behalf of the person
- Evidence that the vessel will be inspected by SMSA or an SMSA-approved organization for seaworthiness
- A photo of the Yacht (in color)
- Radio License (after completing the necessary applications)
- Radio License (after completing the necessary applications)
- Registration Fee for Maritime Mobile Earth Station Application
WHAT IS THE PROCESS OF REGISTERING A YACHT/BOAT IN SEYCHELLES?
A Seychelles International Business Company (IBC) or the Seychelles flag may be used for a yacht’s registration in the Seychelles. The following actions must be taken in order to register a yacht in the Seychelles:
- Contact a Licensed Business Consultant – Relin Consultants is a business consultant or specialist who is familiar with the necessary procedures and can assist you in easily completing the yacht registration process. We will make the yacht registration procedure easier.
- Submit the Necessary Documents – Relin consultants must receive the documents listed above. We will submit these documents for further approval.
- Verification of the Submitted Documents – The documents will go through the verification process after the Relin consultants have submitted them to the appropriate authorities.
- Approval – The temporary registration is finished after the full verification process. The following documents must be provided in order to register the vessel permanently after the 90-day period has passed:
- Bill of sale
- Application for permanent registration
- statutory certificates provided by the classification society
- Carving and marking note
BENEFITS OF SEYCHELLES YACHT REGISTRATION
- Seychelles is regarded as a flag of convenience, which means boat owners can take advantage of advantageous marine laws and rules. In comparison to other jurisdictions, it offers more ownership structure flexibility, tax advantages, and fewer limitations.
- Seychelles provides boat owners with a tax-efficient environment. A yacht registered in the Seychelles cannot be operated, rented out, or sold without paying income tax, capital gains tax, or inheritance tax. Owners of yachts may experience significant cost reductions as a result.
- The Seychelles has a simple and effective registration procedure for yachts. The essential documents can be easily produced and submitted because the requirements are clear. This enables a simple and rapid registration process.
- There are no trading limitations for yachts registered in the Seychelles. This entails that yacht owners are unrestricted in their ability to hire or use their yachts for business purposes. It allows for flexibility in how income from yacht operations is generated.
- Major worldwide maritime registries accept Seychelles as a member of the Worldwide Maritime Organization (IMO). Yachts registered in the Seychelles are recognized internationally and are free to go across international waterways.
Reach out to us at Relin Consultants for further assistance with your Seychelles Yacht Registration.
Who may register a yacht in the Seychelles?
Any person or corporation, regardless of citizenship or place of residence, may register a yacht in Seychelles. Yachts can be registered for individual or business use.
What conditions must be met before registering a yacht in the Seychelles?
A completed application form, ownership documentation, a survey certificate, seaworthiness documentation, payment of the registration costs, and evidence of ownership are the essential prerequisites for Seychelles yacht registration.
Is there a minimum vessel size needed to register in the Seychelles?
Yachts registered in Seychelles are not limited in size. Small pleasure boats to superyachts of various sizes can be registered as yachts.
Can a yacht with a Seychelles registration be rented out?
Yachts with Seychelles registrations can be rented out for business purposes. There are neither trading prohibitions nor chartering activities limitations.
Are there any tax benefits for yachts with Seychelles registrations?
Yacht owners might benefit from tax advantages in Seychelles. A yacht registered in the Seychelles cannot be operated, rented out, or sold without paying income tax, capital gains tax, or inheritance tax.
Can I modify the yacht’s ownership information after it has been registered in the Seychelles?
It is feasible to modify the yacht’s ownership information if it is registered in the Seychelles. With the necessary paperwork and payment of the applicable fees, a transfer of ownership can be conducted through the Seychelles yacht register.
Can I sail my yacht with a Seychelles registration in international waters?
Yes, yachts registered in Seychelles are recognized internationally and are permitted to go through international waterways. Major worldwide maritime registries accept Seychelles as a member of the Worldwide Maritime Organization (IMO).