Owners using British Virgin Islands to register a mega-yacht, yacht or boat in the BVI enjoy the benefits of mitigating taxes, confidentiality of ownership and minimizing liabilities and risk by owning the vessel through a company. All ship types of unlimited size and tonnage may be registered and the vessel need not be physically present in the British Virgin Islands.
Benefits of Virgin Islands Shipping Registry (VISR) registration are:-
- The VISR is a genuine offshore registry with its operations in the British Virgin Islands
- Pleasure as well as commercial vessels may be registered
- Ship registered in the BVI is a "British Ship" entitled to fly the Red Ensign flag, a flag synonymous with quality shipping with the very highest standards
- Low initial registration and annual maintenance fees
- Worldwide recognition of registration certificates
- Facilitation of mortgages, discharge of mortgages and charges/transfers of ownership
- Political and social stability in the BVI which incorporates the British judicial system