The popularity of the Jamaican flag as the registration choice for yachts and superyachts seems to be continually on the rise. The flag was launched at the end of 2012 and has benefited from new legislation, designed to make Jamaica more “superyacht friendly”.
Yachts including the 40m M/Y Gusto and the 44m M/Y Lady M, the latter of which famously appeared in the film “The Wolf of Wall Street”, have recently registered under the Jamaican flag. M/Y Lady M is set for a busy winter season of charters in both the Bahamas and the Caribbean. M/Y Gusto, formerly known as Yeratel G, charters regularly in both the Caribbean and Europe.
Adding to the continual growth of the Jamaican yacht flag, Jamaica Yacht Registry has recently launched a new website at www.jamaicayachts.com. Jamaica Yacht Registry offers superyachts three registration options: private, private charter and commercial.
Jamaica Yacht Registry outlines many advantages to the Jamaican flag, including:
- Practical and realistic levels are assigned based upon the size, area of operation and use of the yacht
- Recognition of the MCA’s Large Yacht Code, Marshall Island’s Yacht Code, and other flags’ safety standards
- Allowance for unclassed yachts under 500 GT to be commercially certified
- One of a select few nations to be authorized a US Cruising License
- No restrictions for commercial yachts to charter in Europe.
One of the most popular features is the fact that the requirements can be adapted, based on the yacht and crew size. Jamaica also offers 15 ports of registry to choose from.
Jamaica is in a position to benefit from its historical ties to the United Kingdom, while having the independence to develop their own “customised” interpretations of British law. Customs duty, customs user fees and general consumption tax on Jamaican-registered yachts were scrapped in favour of a single annual fee. Jamaica’s information minister pledged that it would “stimulate nautical tourism and yacht registration in Jamaica.”
For more information on yacht registration, visit Yachting Pages registration tips.
For more information registration in Jamaica, visit Jamaica Yacht Registry.