The British Virgin Islands | Benefits Of BVI Ship Registration (Revised 2022)

• Published date: 24 November 2022
• Subject Matter: Transport, Marine/ Shipping
• Law Firm: O'Neal Webster
• Author: O'Neal Webster

The Virgin Islands Shipping Registry continues to make strides in engaging the international community, placing the British Virgin Islands at its core. In the past decade, the BVI has become a sturdy jurisdiction for international registrations. As a Category 1 Registry, many of the world's shipowners, managers, brokers, financers, and other associated professionals have and continue to form professional relationships with the Virgin Islands Shipping Registry.

The Registry maintains a ship registry that meets international quality and takes pride in the support and service standard that it provides to clients. The Registry is ISO 9000:2015 certified and meets III Code standards.

Jurisdiction of Choice

BVI is a jurisdiction of choice for ship registry because it has:

• Stable and reliable regulatory framework
• Certified expertise in the shipping industry
• Readily available corporate, legal, telecommunications, and courier services
• Social and political stability with an independent, judicial legal system based on English common law
• Courts organized with a provision for final appeal to the Judicial Committee of The Privy Council (UK)
• Regulated banking, legal, financial, and computer services
• Regulated offshore financial centre benefits
• No sales tax, which can also include other exempted taxes
• An efficient registry that provides swift and expedient service
• Modern state-of-the-art facilities, berths, accommodations supplies, and maritime services

BVI Benefits

The BVI flag has benefits for commercial, charter, and private vessels.

• The Registry is a member of the Red Ensign Group, which ranks among the top 10 in the world's registry groups.
• Ships flying the BVI flag are entitled to British diplomatic and consular support and Royal Navy protection.
• In addition to its own full survey and certification resources in-house, the BVI has a network of surveyors around the world who can attend to any need.
• Eligibility for registered owners is not restricted to BVI corporations and citizens. Eligibility is permitted to citizens...