Register-A-Yacht (RAY) provides a wide range of marine and professional services to yacht owners, managers and brokers worldwide. As the marine division of Sovereign, Gibraltar-based RAY combines the expertise of a dedicated team focused on meeting the needs of yacht owners together with Sovereign’s expertise in corporate ownership and tax planning, as well as enjoying access to a global office network that includes London, Malta, the Isle of Man, Cyprus, Dubai, Singapore and Hong Kong.
Registration is the principal test of a vessel’s nationality. Yacht owners must give careful consideration to selecting the most suitable Port of Registry to ensure that it reflects their profile and needs. Each Port of Registry has different regulations in place, offering its own advantages and, in some cases, disadvantages. RAY will assist yacht owners to make the right decision according to their particular circumstances.
Registration of a yacht in the name of a company rather than an individual can provide enhanced confidentiality of ownership, as well as a means to pass assets on to heirs without liability to estate duties or inheritance tax.
Initially established to register vessels under the British Red Ensign, RAY now registers, administers and manages yachts – pleasure and commercial – on a worldwide basis. It also specialises in the provision of:
• Ownership structures
• VAT and tax planning
• Yacht importation
• Safety and technical management
• Marine insurance and finance
• Crew administration and payroll
• Accounting and banking
• Foreign exchange and international payments.
Click here to visit RAY website.