Yacht Registration
Yachts have been registered in the Isle of Man for many years but in more recent years yacht owners and operators have further recognised the Island as an economic and efficient centre for ownership and, in some cases, the management of yachts registered in the Isle of Man or elsewhere.
It is the policy of the Isle of Man Government to promote the registration of yachts in the Island, whether owned and operated from within the Island or other appropriate territories, which includes British Dependent Territories and member countries of the European Union and European Economic Area.
The Department of Trade and Industry is responsible for the implementation of this policy and its operation is conducted by the Shipping Register, which is a Division of the Department. The Shipping Register is staffed by marine surveyors whose professional backgrounds include Master Mariners, Marine Engineers and Naval Architects.
Yacht owners and operators may take advantage of:
- Manx legislation which includes favourable taxation treatment
- No annual tonnage tax
- The prestige attached to the British Red Ensign which Manx vessels fly and subsequent entitlement to the support of the United Kingdom Government including consular services throughout the world
- Security of mortgages registered in the Island
- A Registry which is prepared to assist the owner in matters relating to safety, prevention of oil pollution, manning and officer certification requirements for the yacht
- An efficient registration organisation, which can quickly and effectively process registry applications to suit owner's and operator's requirements
Manx Yachts - British Flag
Manx registered yachts are British Ships. They are, however, under the separate jurisdiction of the Isle of Man Marine Administration.
The majority interest in the yacht (ie at least 33/64 shares) must be owned by one of the following:
- Companies incorporated in the Isle of Man and having their principal place of business in the Isle of Man. (There are no nationality requirements for ownership of such companies)
- Companies incorporated in the United Kingdom, Channel Islands, any British Dependent Territory* and having their principal place of business in any such territory
- Companies incorporated in member states of the European Union and European Economic Area Countries** and having their principal place of business in any such country. It should be noted that the company may be incorporated in any of the above territories or member states and have its principal place of business in any other of the above territories or member states
- Limited Partnerships established and registered in the Isle of Man in accordance with the Partnership Act 1909 and the International Business Act 1994, and in certain prescribed countries as detailed in Manx Shipping Notice No. 194
- British citizens, British Dependent Territories* citizens, British overseas citizens, British subjects under the British Nationality Act 1981, or British Nationals (Overseas)
- Citizens of member states of the European Union and European Economic Area Countries.** A minority interest in a yacht (ie up to 31 shares) may be owned by non-qualified persons
- In the case of pleasure yachts of over 24 metres, if the qualified ownership is outside the Isle of Man or the ownership is a nominal function within the Island, the owner must appoint either a manager or representative person in the Isle of Man having responsibility for the operation, safety and manning of the yacht
- The British Red Ensign is the flag that is normally flown on Manx yachts. However, registered owners resident in the Isle of Man may, if they wish, fly on their British yachts the Red Ensign incorporating the "Three Legs of Man"
*British Dependent Territories
Anguilla
Bermuda
British Antarctic Territory
British Indian Ocean Territory
Cayman Islands
Falkland Islands
Gibraltar
Montserrat
Pitcairn Islands
St Helena and Dependencies
Turks and Caicos Islands
Virgin Islands (British)
**Member States of the European Union and European Economic Area Countries
Austria
Cyprus
Czech Republic
Denmark
Eire
Estonia
Finland
France
Germany
Greece
Hungary
Iceland
Italy
Latvia
Liechtenstein
Lithuania
Luxembourg
Malta
Netherlands
Norway
Poland
Portugal
Slovakia
Slovenia
Spain
Sweden
United Kingdom
In 2007, the Isle of Man introduced legislation to extend the number of countries accepted for ownership of Manx vessels. Previously restrained to UK/EU/EEA/British Dependent territories, the list has now been extended to include: Australia, the Bahamas, Canada, China, Hong Kong, India, Japan, Liberia, Marshall Islands, New Zealand, Pakistan, Panama, Russia, Singapore, South Africa, United Arab Emirates and the USA.
This allows ownership structures of vessels using companies registered in the above countries to remain unchanged when vessels transfer registration to the Isle of Man, thus providing a smoother transition.
Isle of Man Ship Registry
The Registry has Surveyors who are all well experienced, with professional backgrounds as Master Mariners, Marine Engineers and Naval Architects, who travel worldwide to ensure that standards on Manx ships are maintained.