Prestige & Competitive Rates
Gibraltar is a fully fledged British Category 1 Registry with the same status as any other British Registry. The Yacht registration charges are highly competitive. The Ship registration charges and annual tonnage taxes are also more favourable than in other British Registries. Yacht and Ship owners can, therefore, enjoy the prestige and advantages of registration in a Category 1 British Port whilst paying competitive rates.
Tax-Free Profits
The main advantages are obtained when a vessel is registered in the name of a Gibraltar Offshore Company (Offshore Company Formations). As the ship/yacht owner will not be resident in and will not do business in or with Gibraltar, such a Company will be earning tax-free profits from its commercial operations.
For example, profits obtained from chartering a vessel or from any trade or business carried out will be completely free from tax in Gibraltar and such funds can be paid into a Gibraltar bank account held by the Company.
No Import Duty
No Import Duty is payable by non-resident owners when registering a vessel in Gibraltar under a British Flag.
No Additional Taxes or Charges
Once a yacht has been registered no additional taxes or charges of any form are payable in Gibraltar.
VAT Avoidance
All profits are VAT free and even some charters can also avoid VAT.
Protection from Debts of Sister Ships Gibraltar Offshore Companies can be used to register fleets of ships so that each ship is owned by a different company. In this way the other ships in the fleet will be protected against Debts owed by any of its sister ships.
