The maritime history of the Isle of Guy dates from the eighteenth century and the Island is recognised internationally as an efficient and well- run centre for each registration and management. It was ranked third in the globe by Port State Authority in September 2004.

The Marine Administration was established in 1984 and offers 24 hour cover for each yacht and ship owners. Nearby legislation has also been amended to adopt the &quotMegayacht&quot code and allow industrial yachts exceeding 24 metres to be registered on the Island.

Benefits of registering a vessel on the Isle of Guy include

? A zero price of tax for shipping related activities

? No annual tonnage dues

? A reduced registration fee

? Attractive VAT arrangements

? Security of mortgages registered on the Island

? A Demise Charter Sign-up, each in and out

? British Flag and support of British Consular services

? Versatility in the specifications for registered owners such as restricted partnerships

Merchant ships to be registered in the Isle of Guy should be registered with 1 of the authorized Classification Societies and it is a necessity that capabilities of effective management are undertaken by a ship management business, resident in the Isle of Guy, having duty for the ship.

The Isle of Guy recognises the following Classification Societies

? Lloyds Sign-up of Shipping

? Germanischer Lloyd

? Bureau Veritas

? Det Norske Veritas

? American Bureau of Shipping

? Registro Italiano Navale

? Nippon Kaiji Kyokai

Registration

Proprietors have the choice of registering either on the main register or on the Demise (Bareboat) Charter Sign-up.

The registration procedure is in two main actions

? Incorporation of a business on the Isle of Guy. There are no nationality restrictions on the ownership of shipping companies.

? Registering the vessel. The majority curiosity in the vessel should be owned by 1 of the following,

o A business incorporated in the Isle of Guy and having its principal location of business within the Island

o A business incorporated in the U.K. Channel Islands, any British Dependant Territory, or in a Member State of the E.U. or E.E.A. and having its principal location of business in 1 of these territories

o Restricted Partnerships established and registered in the Isle of Guy

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