The benefits of registering in the Cayman Islands are as follows:
Established in 1903 at the Port of George Town.
An efficient, tax-neutral, international finance jurisdiction that offers a wide range of first-tier financial and business services
Modern, comprehensive maritime legislation based on English Common Law allows flexibility for owners without compromising safety and offers excellent mortgage protection provisions to secure the rights of mortgagees and financiers
IMO participation through the United Kingdom Government
Full British Consular services and Royal Naval assistance and protection for Cayman-flagged vessels are available worldwide
High quality local expertise in the fields of banking, Company management, legal and accounting services.
No income, corporate or capital gains taxes exist in the Cayman Islands.
Political stability and full British Overseas Territory status.
Documents which require to be submitted for registration are as follows:
Appointment of authorized officers.
Form GSR 342 - approval of the ship's name.
Application to register, either by the owner or his agent, who is authorized in writing, and under the Company seal in the case of Company ownership.
Certificate of survey - to be organized through the Marine Survey department, using classification societies, if necessary, in the short term.