A Complete Guide to Boat and Yacht Registration in Seychelles

Typically, the vessel in Seychelles undergoes a two-stage process of registration: first, provisional registration, and second, permanent registration. Both resident and overseas applicants can apply for these registrations, provided they fulfill the guidelines cited in the Merchant Shipping Act, 1992. That said, let’s take a detailed walkthrough of how one can apply for these registrations and what legalities come into play when applying for Boat and Yacht Registration in Seychelles.

Legalities Concerning Boat and Yacht Registration in Seychelles

If the boat and yacht is not within the Seychelles’ territory, it can still be registered under a Seychelles flag at a consular representative abroad. Later, the boat owner can file an application for permanent registration with the Seychelles Ship Registrar. 

A vessel is registered initially for 90 days. However, this specific timeline can be extended by an additional 90 days if compliances aren’t met. Upon sharing the required documentation, the vessel owner can secure the provisional registration. 

After completing the above timeline and meeting the required norms, the vessel owner can obtain permanent registration without paying additional fees. 

Unlike residents, foreign applicants seeking boat and yacht registration cannot directly apply to the authority. First, they need to incorporate an offshore company as part of the registration process. 

Benefits of a Registered Vessel or Yacht in Seychelles

Securing boat and yacht registration comes with numerous benefits that ease vessel management and minimize operational costs. These include:

• Vessels operating in international waters do not require paying taxes on the salaries of crew members and officers.
• A foreigner can enjoy 100% ownership. 
• A rebate of 30% is available to owners filing their second ship with the authority within 12 months of the first registration. 
• 100% privacy for the identity of principals
• Vessel registration acquired via IBC qualifies for zero taxes on profits. There is no withholding tax either. 
• The sale or transfer of a Seychelles yacht does not attract any taxes

Procedure to Secure Boat and Yacht Registration in Seychelles

Based on your residency status, you can follow the given steps accordingly for the vessel registration in Seychelles: 

Step 1: Incorporate an Offshore Company, if required

For a foreign applicant, Seychelles offshore company formation is a must. For this, you can either choose IBC or any other suitable vehicle, depending on your business needs and tax requirements. We recommend appointing a certified agent if you have any doubts. 

Step 2: Arrange the Necessary Documents 

The paperwork plays a vital role in the vessel registration process. Exercise caution before submitting them to the authorities. Ensure each document excels at accuracy and completeness. 

Step 3: Apply for the Provisional Registration 

For this purpose, you can partner with a certified agent, especially if you are applying as a foreign applicant. The agent will handle the filing formalities and submit appropriate documentation to the authority. 

Step 4: Grant of Certificate

The authority shall vet the paperwork within the purview of the Merchant Shipping Act, 1992, and may inspect the vessel to assess its quality. If qualified, the authority shall grant a provisional certificate, which will remain valid for 90 days, after which the applicant can apply for permanent registration. 

Step 5: Apply for a Permanent Certificate 

If the vessel successfully completes the provisional period and complies with the required quality standards, the applicant can apply for a permanent certificate, which requires filing an application with the relevant authorities. 

Step 6:  Inspection and Grant of Certificate

Upon successful filing, the authority shall verify whether the vessel complies with the requirements outlined in the provisional certificate. If qualified, the applicant will receive the permanent certificate. 

Paperwork for Boat and Yacht Registration in Seychelles 

Documents for Provisional Registration 

• A document detailing the technical specifications and information about the vessels. It must have the builder’s signature.
• Document confirming that the vessel no longer holds the other nation’s flag
• A radio license 
• Proof evidencing that the vessel in question belongs to the owner 
• A list of at least three alternative names under which the vessel is proposed to be registered.

Documents for Permanent Registration

• Certificate of class 
• A certificate reinforcing that the vessel in question adheres to the quality norms 
• A certificate evidencing that the construction of the vessel is in compliance with the required standards
• International oil pollution certificate 
• Load line certificate 
• Minimum safe manning certificate 
• GMDSS safety radio certificate 
• Seaworthiness certificate
• Bill of sale 
• Declaration of transfer 

Conclusion 

It is apparent that there is a lot to consider when pursuing boat and yacht registration, whether you are a resident or a foreign national. While the information above will help you proceed with peace of mind, consulting with an advisor or trusted service provider like BSW will keep you ahead of the curve. Business Setup Worldwide (BSW) is recognized as one of the top service providers for diverse offshore needs. Whether you need to form a company or leap into a brand-new venture, our offshore business consultant will take care of everything with ultimate precision and professionalism. Contact us now to experience seamless registration from start to finish.