Commercial Yachts and Passenger Yachts (PAXYs)

Commercial Yacht

A commercial yacht is any yacht engaged in trade (YET), commerce, or on charter, and carrying no more than 12 passengers. The registration of commercial yachts is limited to those of 24 meters (m) or more in length.

Advantages

• Number of days chartered to third parties is unlimited.
• Recognized and accepted by the Paris, Tokyo, and Caribbean Memorandums of Understanding (MoUs).
• No limit on the maximum size and tonnage of the yacht.

Requirements

• Requirements for Commercial Yacht Registration (MI-242CY)

PAXY

A PAXY is any passenger ship registered as per Chapter II of the RMI Maritime Act 1990 that is described on the Certificate of Registry as a PAXY and therefore may be engaged in trade, commerce, or on charter and carrying up to 36 passengers.

Advantages

• Ability to charter with up to 36 passengers.
• Recognized by the Paris, Tokyo, and Caribbean MoUs.

Requirements

• Requirements for Passenger Yacht Registration (MI-242PAXY)

Survey Requirements

All commercial yachts and PAXYs, regardless of tonnage / age, shall be certified to comply with the requirements of the RMI Yacht Code 2021, as amended through August 2023 (“MI-103” or the “Code”) and must undergo a Compliance Verification by an Appointed Representative.

For further information or to proceed with registration please contact yachts@register-iri.com.