YACHT REGISTRATION

The Gibraltar Yacht Registry is an internationally recognised, high quality registry providing an efficient and cost-effective service, it is an ideal choice for yacht owners who want the confidence of belonging to a British Register and flying the Red Ensign.

As a member of the Red Ensign Group, there is flexibility of transfer to and/or from other Red Ensign ports in an efficient manner. The Registry offers very competitive rates to other British ports, including a 24hr turn-around service on the provision of official documents.

With over 900 active pleasure yachts on the register, all enjoy and benefit from a comprehensive maritime legislation based on English Common Law supported by a first rate legal and fiscal environment. Our ownership eligibility criteria allows owners from around the globe to take advantage of the many benefits we offer.

We have an experienced and dedicated team offering good customer service and assistance in the registration of these yachts, as well as specialized surveyors available to carry out the necessary surveys, and inspections for the issue of certificates showing compliance with LY2, LY3 and the Passenger Yacht Code.

Gibraltar has no VAT system.

From a legal perspective, registering a yacht in Gibraltar offers many advantages of security and reliability:

• The yacht will fly the defaced British flag (Red Ensign) together with the international recognition, protection and prestige that comes with it.

• The ability to seek assistance from any of the British embassies and consulates worldwide where the vessel may be situated.

• Legal title of yacht ownership on registration or transfer of ownership is straightforward.

• All vital details concerning the yacht is contained in the Register, and in the Certificate of British Registry (‘Blue Book’).

• The Register is a public record, open to inspection by interested third parties, such as buyers, and/or potential lenders, offering security as to title.

• The Register enables the owner to dispose of the yacht easily in a cost-effective and timely manner.

• All legal mortgages are required to be registered, enabling interested parties to ascertain from this public record whether a yacht is free from encumbrances or registered liens.

• Yachts over 24 metres can switch between commercial and pleasure registration, offering owners flexibility and operational advantages.

Registration Types

The GYR currently offers three types of registration:

1) Full Registration - Full Registrations are renewable on application for a period of 12, 24, 36, 48 or 60 months.

2) Provisional Registration - Provisional Registrations are valid for a period of three months with the option of an extension giving you a maximum of six month of registration.

3) Registration Under Construction - A vessel undergoing construction, along with any associated mortgages for said vessel, becomes eligible for registration as soon as its keel is laid. The registration process parallels that of full registration, with the exception that instead of a Builder’s Certificate, evidence of ongoing construction (such as a Construction Contract and Shipyard Letter) must be provided. Gibraltar will then issue a Certificate of British Registry for a Vessel Under Construction. Notably, there is no requirement for a registration survey at this stage.

The key benefits of registering a vessel under construction include:

• Allocating a title to the registered owner of the vessel in construction, ensuring its distinct status from the general assets of the shipyard. The extent of this separation depends on the contractual language between the registered owner and the shipyard. This distinction can prove advantageous, especially in scenarios related to bankruptcy.
• A registered mortgage on a vessel under construction enjoys the same priority as a recorded mortgage in full registration. This priority status persists until the mortgage is discharged, even if the construction registration ceases to be in effect.

All the above types of registration have provisions to register mortgages.

Ownership and Appointments

Qualified persons (individuals and bodies corporates or legal entities incorporated) established or registered within a British territory, commonwealth state, EEA state or of an approved country as specified in Schedule 10 of the Gibraltar Merchant Shipping (Pleasure Yacht) Regulations 1997. Companies not falling within any of the above, can still obtain eligibility as a foreign maritime entity (FME) upon application.

If the owners are not residents or do not have a principal place of business in Gibraltar, then they shall appoint a person or company in Gibraltar as their representative person or registered agents.

Lists of current representatives can be obtained by contacting the GYR.

Change of Yacht Use - 24m and over (from Commercial to Pleasure and Vice Versa)

A yacht can alternate between being registered as a commercial yacht and a pleasure yacht, but can only hold one active Certificate of Registry at a time.

To qualify for this facility, a yacht operating under a pleasure yacht certificate of registry must at all times comply with the same underlying requirements as it would if it were a commercial yacht.

For further details, please refer to our Shipping Guidance Notice 144.