The Isle of Man is at the forefront of yacht registration and management. Manx Yacht Forum Members offer yacht owners and managers with the facility to register and manage vessels from one of the most respected and progressive international financial centres and provide truely golbal solutions the industry's needs.
Why Choose the Isle of Man
The Isle of Man is an established international finance centre, with a secure base built on political stability, low taxation and a firmly established fiscal and regulatory environment independent of the UK.
This provides a sound platform for business to flourish and the Island has actively sought to create a diversified economy that is not heavily reliant on any one sector, thus allowing us to react swiftly and effectively to events in world markets.
Since the adoption of the "Megayacht Code" in 2003, the Isle of Man has become a centre for excellence for the registration and management of superyachts. Yachts have been registered on the Isle of Man for many years and owners and operators have come to recognise the Island as a secure, efficient and economic centre for registration and management.
A highly important benefit for owners and operators is that they can profit from the Island's highly advantageous tax regime, including beneficial VAT arrangements.
Now that yachts of 24 metres can be registered on the Isle of Man, the Island is becoming the jurisdiction of choice in which to register Red Ensign vessels.
Yacht owners and operators may take advantage of:
Manx legislation, which includes a favourable tax regime No annual tonnage tax Security of mortgages registered on the Island The prestige attached to the British Red Ensign which Manx vessels fly and consequent entitlement to the support of the United Kingdom Government including consular services throughout the world A Ship Registry that is prepared to assist the owners in matters relating to safety, prevention of oil pollution, manning and officer certification requirements for the yachts An efficient registration organisation, which can efficiently and effectively process registry applications to suit owners and operators' requirements Professional and efficient corporate services provision Beneficial VAT arrangements Political stability