MARITIME

Frequently Asked Questions

Maritime FAQs

What types of vessels are eligible for registration in the RMI?

Seagoing vessels of any tonnage engaged in foreign trade, including commercial yachts and private yachts 12 meters or more in length, are eligible for registration in the RMI.

How can an entity be created?

An entity for vessel ownership is easily formed and maintained. More information on business entity formation can be found in our Corporate Services section. Owners may find it advantageous to form more than one entity for a vessel if there is more than one company involved in vessel operations, crewing, cargo handling, and chartering.

What is a foreign maritime entity (FME)?

An FME is a foreign-registered corporation, general or limited partnership, or limited liability company that has qualified to own or operate a vessel registered in the RMI. An entity incorporated in a jurisdiction other than that of the ship registry may register as an FME by completing an application available through any IRI office.

How long does it take to register a vessel?

A Provisional Certificate of Registry for a vessel may be obtained in one business day, provided that all of the required information and proof of ownership have been received and initial registration fees have been paid. The Provisional Certificate is valid for one year, during which time the owner/operator can obtain the documents required for the Permanent Certificate of Registry.

Can a newbuilding be registered prior to completion?

A newbuilding registration is a notation in the Registry’s records of an intention by the prospective owner to potentially register the newbuilding in the RMI upon its completion and delivery from the shipbuilder. The vessel can be registered once the owner officially obtains its title. Please contact any IRI office for additional information on newbuilding registration.

Commercial Vessels:

Is there an age requirement?

Vessels should not be more than 20 years of age at the time of registration; however, vessels older than 20 years may be granted a waiver for registration depending on the vessel’s condition and whether the vessel meets the requirements of its Classification Society. Applications for vessels 15 years of age or older should be submitted with a Status Report of the vessel’s statutory survey and certification and a copy of its latest Intermediate or Special Survey Report.

What type of entity may own a commercial vessel?

A commercial vessel registered in the RMI may be owned by an RMI corporation, general or limited partnership, limited liability company, or qualified FME.

What does "bareboat registered" mean?

Bareboat charter registration temporarily permits a vessel to fly the flag of another country while ownership continues to be registered in the owner’s State. It provides a welcome element of flexibility in a number of commercial situations. While registered pursuant to a bareboat charter, a vessel is allowed, with the consent of its owner’s State of registry, to fly the flag of its bareboat charterer’s State for a period determined by that State’s law or, if for a shorter time, by the term fixed in the bareboat charter party.