douglas, isle of
Man, viewed
from the air.
Renowned for its
tailless cats and
the TT races, the
island has rather
more to offer the
discerning yacht
and aircraft owner.
The Isle of Man – at the top of the world Stable jurisdiction – The Isle of Man is “AAA” rated
by Standard and Poor’s and the Manx Red Ensign
There are over 100 ship registries in the world. on the
is recognised as a British Flag, providing consular
Paris Port State Control annual listings (which covers
services throughout the world.
the north Atlantic and Mediterranean and over 70
registries) 18 are on the Black List, 24 on the Grey Ease of registration – 24 hour availability of senior
List and 34 on the White List. The Isle of Man has staff and a fast response to all queries.
consistently been at the top of the annual White List,
Mortgages – Security of mortgages registered on the
and is currently ranked fourth. on the International Flag
Island.
State Performance table (a compilation of all Port State
rankings) the Isle of Man is in first place, emphasising
Fees – The Ship Registry operates the “Alternative Fees
the quality standards adhered to by the island’s Ship
Scheme”, an arrangement which allows owners and
Registry and which gives considerable reassurance to
managers to budget accurately for survey and audit
the owner.
costs, and there are no annual tonnage fees.
The first ships were registered in the island in 1786
Manning – The Ship Registry has adopted a flexible
and in 1984 the Ship Registry became an independent
approach to manning.
quality “international” register with a strong emphasis
on high standards and efficient service. In 2003 the Isle
Services – The support services to the industry in the
of Man introduced the “Megayacht Code”, a legislative
Island is unsurpassed by any other offshore Flag
code of practice for large commercial vessels over
State; with international banks, marine lawyers,
24 metres, which is now recognised as the industry
finance and insurance, corporate service providers,
standard. Since the introduction of the Code, the Isle
such as Equiom, taxation specialists, recruitment
of Man has become the jurisdiction of choice for a
companies, project managers, charter management
growing number of the world’s most prestigious
and IT services.
yachts. The reasons for this can be explained by Ownership arrangements – Corporate service
answering the questions posed above: providers (such as Equiom) in the Island have
18 YACHTWORLD.COM DeCeMbeR 2008
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