isle of man yacht flag

Isle of Man Yacht Registration

Introduction.

The purpose of this guide to highlight the many advantages of the Isle of Man Register of Ships and to introduce the comprehensive range of Isle of Man yacht registration services that we provide.

About the Isle of Man

The Isle of Man is a self-governing British Crown dependency located in the Irish Sea situated between England and Ireland.

About the Isle of Man Ship Registry

The Isle of Man Ship Registry is a Category 1 British Red Ensign Group member able to register vessels of unlimited type and size. It is the flag of choice for many large shipping corporations operating all vessel types to very exacting standards. 

Port of Registry

There are four Isle of Man ports of registry, namely:

• Castletown 
• Douglas 
• Ramsey 

The Flag (‘Ensign’)

Isle of Man registered vessels can fly either an undefaced red ensign or a red ensign defaced with the “triskelion” which is represents the ‘Three Legs of Man’ and is island’s national symbol.

The Certificate of British Registry

Upon completion of registration formalities an Isle of Man registered yacht is issued with a Certificate of British Registry.

Eligibility – Yachts

The Isle of Man will accept private pleasure yachts of any size and commercial yachts over 24 metres in loadline length that are based and operated anywhere in the world.

Eligibility – Owners

The Isle of Man Register of Ships is an international register meaning that the register is not just restricted to Isle of Man citizens or Isle of Man registered companies.

In fact all British citizens and companies may register a yacht in the Isle of Man in their own name as well as citizens and companies from countries listed in the following table:

Summary of Features & Benefits of Yacht Registration in the Isle of Man

• The Isle of Man is a neutral, politically stable and well-regarded jurisdiction that has been white-listed as a transparent and well-regulated offshore finance centre
• Member of the coveted ‘Red Ensign Group’ of British ship registries and Isle of Man yacht registration enables the prestigious red ensign to be flown
• Government funded, operated, backed and staffed ship registry
• Neutral port of registry marked on the vessel holding the reputation of a quality register that is familiar to port and customs authorities around the world
• High service levels driven by a customer first service ethos resulting in quick turnaround of applications
• No priority or rush fees – all applications are dealt with on a timely basis
• Wealth of experience – many yachts current on the register
• Competitive registry fees
• No insurance premium tax (6% in UK)
• European time zone
• Isle of Man registration is valid internationally and documentation issued in English so widely understood.
• Isle of Man registered yachts do not have to ever physically visit the Isle of Man
• The Isle of Man Register of Ships provides proof of title and enables the owner to register a mortgage on the vessel
• Certificate of British Registry is valid for ten years and at the end of the five years the process for renewing the registration for a further five years is very easy<
• Yachts over 24 metres in loadline length can be coded and operated as commercial charter yachts on the register
• Entitlement to register includes a wide range of global citizens which can avoid the need for company formation for the majority of potential clients
• Isle of Man registered yachts are entitled to diplomatic protection, British consular assistance and Royal Naval protection (dependent on availability of assets/& nature of the threat)

Isle of Man Yacht Registration By Oceanskies

Oceanskies provides a fixed fee yacht registration service to all yacht owners wishing to take advantage of the benefits of Isle of Man registration for their yacht.

The registration service results in Oceanskies taking responsibility for the entire registration process on behalf of the owner.

Our fees include all registry fees and disbursements providing the internationally recognised Isle of Man Certificate of British Registry and a lifetime radio licence allocating the vessel’s call sign and MMSI number.

Example Pricing

Our fixed fee yacht registration package for the Isle of Man  registration of any  private yacht under 24 metres in registered length lying within the EU costs only £2,250.00 in year one and then £650.00 per annum in second and subsequent years and includes:

• Full Certificate of British registry
• Tonnage Survey Onboard vessel lying in EU
• All registry fees
• Radio licence allocating call sign & MMSI number

Crew Employment & Payroll for Isle of Man Registered Yachts

Through Oceanskies Crew Limited we are able to provide crew payroll outsourcing services from for crew working onboard Isle of Man registered vessels.

This service is a very popular ‘bolt on’ service for our clients as it simplifies the employment of the crew of their Isle of Man registered yacht.

The yacht owner engages Oceanskies Crew Limited to employ and pay the crew of their vessel through a crew services agreement. As employers, Oceanskies Crew Limited issues the crew with contracts in line with the Marine Labour Convention guidelines, pays them, issues payslips, sea service testimonials etc.

For further information please refer to the crew employment and payroll section of our website at the following link:

• Oceanskies Crew

Other Isle of Man Yacht Registration Services by Oceanskies

Oceanskies are able to provide a range of stand alone fixed fee additional registration services including:

• Provision of Isle of Man representative person facilities for yachts over 24 metres in loadline length;
• Registration of new owner details in event of vessel transferring to a new owner qualified to maintain the Isle of Man registration;
• Drafting of sale documents such as a Bill of Sale in the Isle of Man format and any supporting documentation required by the Buyer of the vessel;
• Transfers of vessel registration to the Isle of Man from other British registries, (and vice versa);
• Performance of tonnage surveys and issue of Certificates of Survey for Isle of Man registration on vessels under 24 metres in loadline length;
• Effect change of vessel name;
• Make amendments to registered particulars of vessel;
• Manufacture and supply of tonnage plates displaying official number for Carving & Marking purposes;
• Registration / discharge of marine mortgages;
• Arrange deletion / cancellation of Isle of Man registration to provide a Closed Transcript of Registry (Deletion Certificate); and
• Obtain Current Transcripts of Registry to provide at the time of issue a ‘snapshot’ of the register confirming:
• Vessel dimensions and particulars such as the builder, length, breadth, tonnage, year of build and engine details;
• Details of the current registered owner; and
• Details of any mortgages or encumbrances such as a bank loan registered against the vessel.

Please do not hesitate to contact for a free no obligation proposal for any of our Isle of Man yacht registration services or any general yacht registration query that you might have.

Relevant Guides

More information, who to contact.

Oceanskies on Instagram

Oceanskies on twitter, guernsey office.

Oceanskies Limited Castle Emplacement St. Peter Port, Guernsey GY1 1AU Channel Islands, Great Britain

Oceanskies Support Services Limited International House Solent International Business Park George Curl Way Southampton SO18 2RZ Great Britain

Malta Office

Oceanskies (Malta) Limited Premiere Business Centre, Suite 1, Level 2 Constitution Street Mosta MST 1750 Malta

Email Crew: [email protected]

Email Registration: [email protected]

Call: +44 1481 711994

Oceanskies Limited is registered in Guernsey (company number 56102) | Registered Office: Castle Emplacement, St.Peter Port, Guernsey GY1 1AU, Channel Islands, Great Britain

Oceanskies Support Services Limited is registered in the United Kingdom (company number 14539527) | Registered Office: 80 Grove Lane, Holt, Norfolk, United Kingdom, NR25 6ED

Oceanskies Malta Limited is registered in Malta (company number C 77899) | Registered Office: Premiere Business Centre Suite 1, Level 2, Constitution Street, MOSTA, MST 1750, Malta

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Isle of Man Category 1

The Isle of Man Ship Registry is a Category 1 British Red Ensign Group member able to register vessels of unlimited type and size.  It is the flag of choice for many large shipping corporations operating all vessel types to very exacting standards.  It currently has over 16m gross tons on its register of which over 50% are tankers. The Isle of Man maintains a reputation for quality and for rapid, pragmatic service at a very reasonable cost to ship owners and operators.  It provides 24/7 service and out-of-hours registration to suit clients’ needs.

The island is also a Centre of Excellence in the Irish Sea with locally based maritime expertise in ship management, crew management, yacht management, ship finance, marine insurance, fiduciary services, chartering, legal services and training.  The Isle of Man is the flag of choice for many of the world’s superyachts. It hosts a number of companies operating specialist services in this sector.

The Ship Registry is certified to the ISO 9001:2015 quality and ISO 14001:2015 environmental management standards and works with owners and operators to uphold its position on the world's Port State Control white lists. The Isle of Man is also recognised by the United States Coast Guard's Qualship 21 scheme as a quality flag.

Further information can be found on the Isle of Man Ship Registry’s website: www.iomshipregistry.com

Yacht Registration - Isle of Man

The Isle of Man is a category 1 Red Ensign flag and is one of the most popular flags for both commercial and pleasure yacht registrations.  The Ports of registry are: Douglas, Peel, Castletown and Ramsey.  

Yacht Registration – Isle of Man

Isle of man yacht registration.

The Isle of Man Ship Registry offers the following advantages that together make up a unique package:

• Political and Financial stability – the Isle of Man has a long history of a political stability and is an OECD ‘white-listed’ jurisdiction
• Mortgage Registration – providing flexibility and security of finance
• Ownership – extensive list of accepted countries for ship ownership structures
• English Law – the Isle of Man operates on a system of English law
• Demise/Parallel Registration – the Isle of Man enables parallel registration with other states, both demise-in and demise-out registration to provide solutions for owners.
• British register – flying the British Red Ensign as a badge of quality
• Professional services – the Isle of Man offers the full range of professional maritime services to assist with the registration, ownership and management of vessels and crew
• Port State Control – strong performance on MOU white lists and USCG Qualship 21 program; includes 1st place on the 2018 Paris MoU White List.
• Out-of-hours registration to suit shipyard times/closing meetings around the world
• 24/7 emergency response by Principal Surveyors (key decision makers)
• Ease for shipyards – no change required to convention standard ship specifications
• Technical expertise – in-house survey and policy teams on hand for advice and consultation
• Network of surveyors – in key global shipping locations
• Pragmatic approach to regulation with a focus on solutions
• Customer service – strong focus on swift response and building relationships
• Flag State Inspection regime using its own exclusive surveyors
• Fees – simple annual fee providing cost effective registration, inspection and certification
• Seafarers Documents – rapid, on-line process for STCW endorsements
• All vessel types – a team fully experienced in the full range of merchant ships, offshore vessels and commercial and pleasure yachts.

isle of man yacht registration

The Isle of Man is a category 1 Red Ensign flag and is one of the most popular flags for both commercial and pleasure yacht registrations.  The Ports of registry are: Douglas, Peel, Castletown and Ramsey

BVI yacht registration

The British Virgin Islands is a non EU jurisdiction for VAT and crew employment and is frequently chosen by owners wishing to benefit from temporary admission when visiting EU waters.  The Ports of Registry are: Road Town, White Bay and Gorda Sound.

cayman islands yacht registration

The Cayman Islands is a non EU jurisdiction for VAT and crew employment and is frequently chosen by owners wishing to benefit from temporary admission when visiting EU waters.  The Ports of Registry are:George Town, The Creek and Bloody Bay.

United kingdom yacht registration

The UK is one of the world’s leading maritime locations and has 116 UK ports of registry.  This enables owners to secure their preferred yacht name.    The UK  register is regulated by the United Kingdom’s Maritime & Coastguard Agency (MCA)

jersey yacht registration

Jersey is a category 2 Red Ensign flag and is suited to yachts up to 400 GT.  The principal port of registry is Jersey.

guernsey yacht registration

The Guernsey registry is also part of the Red Ensign group is open to pleasure yachts up to 150 GT.  The principal port of registry is Guernsey.

malta yacht registration

Malta is the 6th largest ship registry in the world and is one of the most popular EU flags for yacht registration with circa 800 yachts registered.  Yachts of any size may register for pleasure use and yachts of 15 metres or more can register for commercial use.  The sole port of registry is Valletta.

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Yachting registration packages, pricing structures for your every need.

We offer a wide and competitive range of fixed fee pricing packages to suit yacht owners needs.  For more details, please contact one of our specialist team members for further guidance.

Yacht Registration (Pleasure)

• Yacht Registration
• Yacht Name Reservation
• Tonnage Survey Assistance
• Crew Endorsements
• Radio Licence Application

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• Radio Licence Renewals

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• Aug 28, 2023

Navigating Flag Choices for Your Caribbean-Based Charter Yacht: An In-Depth Exploration

In the sophisticated world of yachting, the flag under which a vessel sails signifies more than just identity. It casts implications on legal rights, operational flexibility, and financial considerations. Presented by Mainstay Consulting Group Ltd, this guide illuminates the myriad considerations behind choosing an ideal flag registry, offering an acute insight into the esteemed Red Ensign Group and contrasting it with other renowned maritime jurisdictions.

Understanding the Red Ensign Group

At the heart of maritime excellence, the Red Ensign Group (REG) unifies the UK, its Crown Dependencies, and certain UK Overseas Territories that are authorized to register ships. These jurisdictions, sailing under the revered Red Ensign flag, have etched a global mark for their unwavering commitment to safety, regulatory finesse, and unmatched maritime quality.

1. The Influence of Lenders on Flag Choice

Lenders exert significant sway over flag selection. Their primary considerations lie in the safeguarding of their investments. They incline towards flag states that endorse stringent maritime standards, possess unassailable legal frameworks, and assure swift repossession procedures in potential default scenarios. The stability and global recognition of a flag state's jurisdiction infuse lenders with the confidence that their investments remain secure. Interestingly, while many flag states enjoy frequent commendation by lenders, others may not consistently be their preferred choice due to specific jurisdictional peculiarities.

Lender Preferences

Lenders prioritize jurisdictions renowned for their clarity, transparent legal systems, and robust operational standards. The certainty of a jurisdiction's financial and legal environment can lead to enhanced financial terms for yacht owners.

Red Ensign Group :

UK : Highly esteemed by lenders due to its storied maritime legacy and robust legal foundation.

Bermuda : Its well-established financial ecosystem reinforces lender trust.

Gibraltar : Valued for its geostrategic importance.

Isle of Man : Known for its dedication to maritime regulations.

Cayman Islands : A fusion of Caribbean charm and Red Ensign standards.

British Virgin Islands (BVI) : Melding regional acumen with global compliance, though some lenders might approach with added diligence.

USA : Its transparent legal framework is particularly attractive to lenders.

Marshall Islands : Lenders are closely watching its avant-garde fleet and adaptability.

Jamaica : Lenders keenly track its steadfast commitment to upholding maritime benchmarks.

Canada : Its globally esteemed legal architecture makes it a top choice.

EU Flags : Lenders value the cohesiveness of EU jurisprudence, with each member bringing a unique regulatory perspective.

2. The Influence of Insurers on Flag Choice

Insurance companies play a pivotal role in the flag selection process. Their primary concerns revolve around risk management. Insurers prefer flags that boast strong track records for safety, have stringent vessel inspection procedures, and adhere to global maritime standards. The flag under which a yacht operates can significantly impact insurance premiums and coverage terms. A registry known for its rigorous safety and maintenance standards often translates to favourable insurance terms, providing yacht owners with both financial and operational advantages.

Insurer Preferences

For insurers, the safety standards, maritime reputation, and compliance of a jurisdiction play a pivotal role. These parameters influence the perceived risks and thus impact coverage terms and premiums.

UK : Admired by insurers for its rigorous safety regulations. The UK pioneered marine insurance.

Bermuda : Recognized for maritime compliance.

Gibraltar : Its unwavering commitment to maritime safety is a strong point.

Isle of Man : Its sterling safety record is a major attraction.

Cayman Islands : Especially favoured by insurers eyeing high-end yachts.

British Virgin Islands (BVI) : Agreeable for insurers due to its commitment to global compliance.

USA : Its strict adherence to safety norms endears it to insurers.

Marshall Islands : Rising as a preference for insurers, especially those focusing on contemporary vessels.

Jamaica : Earning insurer trust due to its commitment to maritime benchmarks.

Canada : Renowned for its unyielding safety guidelines.

EU Flags : Insurers find solace in the consistent safety ethos each EU member maintains.

3. The Significance of Regulatory Regimes

The maritime regulatory landscape is multifaceted and dynamic. Different flag states have varying regulatory regimes, influenced by international conventions, regional specifics, and local priorities. Regulatory regimes shape everything from vessel construction standards and emission guidelines to crew welfare protocols. For yacht owners, aligning with a flag state that offers a robust yet flexible regulatory environment can pave the way for operational ease and global recognition. Navigating these waters becomes simpler when the chosen flag state has a reputation for proactive adaptation to international standards while catering to the unique needs of yachts.

Regulatory Compliance

In the vast expanse of maritime operations, regulatory compliance stands as a beacon of safety, environmental responsibility, and crew welfare. Adherence to these standards not only safeguards the vessel and its occupants but also fortifies the yacht’s standing in international waters, paving the way for unhindered global navigation.

UK : Continuously updating and aligning with international maritime conventions, the UK leads with its safety-first approach. Its regulations cater to both vessel standards and crew welfare.

Bermuda : With regulations mirroring the UK’s meticulous standards, Bermuda ensures that yachts maintain top-tier safety and environmental protocols.

Gibraltar : Upholding maritime safety and environmental conservation, Gibraltar has tailored regulations fitting its strategic Mediterranean location.

Isle of Man : With consistent surveillance and timely regulatory updates, it ensures vessels under its flag are compliant with the best global practices.

Cayman Islands : Offering specialized guidance for luxury yachts, Cayman ensures both environmental responsibility and guest safety.

British Virgin Islands (BVI) : Adopting a blend of regional nuances with global standards, BVI ensures that yachts maintain a favourable stance in international maritime spheres.

USA : The US Coast Guard ensures rigorous adherence to international maritime conventions. The USA's compliance with safety, environmental, and crew welfare standards is exemplary, making it a go-to for many yacht owners.

Marshall Islands : Prioritizing both safety and environmental conservation, the Marshall Islands have modernized their fleet standards, ensuring they are at par with international expectations.

Jamaica : As a member of the International Maritime Organization (IMO), Jamaica continuously refines its regulations to mirror global best practices while catering to the unique Caribbean maritime environment.

Canada : Transport Canada Marine Safety and Security ensures that all vessels maintain impeccable safety records, adhere to environmental guidelines, and uphold crew rights.

EU Flags : Within the EU, each member state is committed to upholding the various maritime conventions of the IMO. While harmonized in their approach, each member brings a touch of regional specificity, ensuring yachts are well-equipped to navigate both European and international waters.

These regulatory systems offer more than just a checklist; they symbolize a commitment to the highest standards of maritime operations.

4. The Influence of Taxation on Flag State Choices

Taxation forms a cornerstone of decision-making in the maritime sector. The fiscal climate within a flag state can directly impact a yacht's operational costs and overall profitability. Owners often evaluate potential tax liabilities, available incentives, and any bilateral treaties that might offer fiscal advantages. As tax frameworks evolve, yacht owners must prioritize both current benefits and the stability of a country's taxation environment.

Taxation Implications Across Flag States

Choosing a flag state isn't merely a regulatory decision; it's also a fiscal one. Here's a snapshot of the taxation environment across prominent flag states:

UK : The UK has a well-structured tonnage tax regime, offering competitive advantages for certain vessel types. There are also specific VAT implications depending on the yacht's operational scope.

Bermuda : While free from local taxes, yacht owners might still need to consider other financial implications based on their residency or vessel usage.

Gibraltar : Known for its attractive corporate tax rates, Gibraltar can be a lucrative choice for yacht owners prioritizing fiscal efficiency.

Isle of Man : It offers a favourable VAT regime for yachts, making it an attractive option for many owners.

Cayman Islands : With no direct taxes, the Cayman Islands stands out as a favourable jurisdiction from a fiscal standpoint.

British Virgin Islands (BVI) : Similar to Cayman, the BVI offers a tax-neutral environment, enticing many yacht owners.

USA : While the US offers a robust maritime infrastructure, taxation can vary based on vessel registration, ownership structure, and operation areas. State-specific taxes can also play a role.

Marshall Islands : Known for its corporate-friendly tax regime, it's becoming an increasingly attractive choice for yacht registration.

Jamaica : As an emerging maritime hub, Jamaica offers competitive tonnage tax rates and other incentives for yacht owners.

Canada : Canada’s tax implications are multifaceted, considering federal and provincial taxes. However, specific incentives might benefit yacht operations.

EU Flags : Within the EU, yacht taxation is harmonized to a degree, but nuances exist based on individual member states. VAT considerations, particularly, can vary across EU jurisdictions.

Navigating taxation waters requires a keen understanding of both local nuances and international conventions. The choice of flag can potentially translate to significant savings or unforeseen liabilities, depending on the jurisdiction’s fiscal framework.

4. The Influence of Privacy in Flag State Choices

For many yacht owners, privacy is more than a luxury—it's a necessity. The choice of flag can significantly influence the level of anonymity or exposure one might encounter in maritime operations. While some jurisdictions offer enhanced confidentiality, ensuring the privacy of ownership structures and operational details, others might lean more towards transparency, influenced by international pressures and bilateral agreements. The flag state's stance on privacy can directly affect decisions regarding yacht registration, especially for high-profile individuals or those sensitive to data exposure.

Privacy Considerations Across Flag States

Balancing transparency with confidentiality is a dance that flag states have choreographed uniquely. Here’s an insight into privacy considerations:

UK : With beneficial ownership registers becoming public, the UK has taken strides towards transparency. While offering robust legal frameworks, the level of privacy might be a concern for some.

Bermuda : Strikes a balance between transparency and confidentiality, ensuring that while data is accessible for legal requisites, general exposure is limited.

Gibraltar : Adheres to EU directives on transparency, making certain ownership details available, yet it safeguards sensitive data with stringent regulations.

Isle of Man : Offers a degree of confidentiality, but the push towards global transparency is shaping its privacy norms.

Cayman Islands : Historically known for confidentiality, recent pressures have seen shifts towards more transparency, but with a keen eye on data protection.

British Virgin Islands (BVI) : Similar to Cayman, BVI has adapted its privacy norms, ensuring a balance that caters to both international requisites and individual privacy.

USA : The US offers robust data protection, but transparency norms vary state by state. Federal requirements can also influence ownership data accessibility.

Marshall Islands : A favourable jurisdiction for privacy, offering confidentiality in ownership structures while adhering to international transparency norms.

Jamaica : While prioritizing data protection, Jamaica ensures that its transparency commitments are in line with international standards.

Canada : Privacy is upheld, but with recent pushes for transparency in corporate structures, certain data might be more accessible.

EU Flags : EU jurisdictions largely adhere to the EU's transparency directives, ensuring data protection but making certain ownership data available for scrutiny.

When choosing a flag state, it's vital to consider both the immediate privacy implications and the jurisdiction's adaptability to evolving global norms.

5. The Weight of Procedures and Costs in Flag State Decisions

Simplicity, efficiency, and cost-effectiveness – these are the attributes yacht owners ardently seek when navigating registration processes. The length, complexity, and costs associated with flagging under a particular jurisdiction can be a determining factor, especially for commercial yacht operators. While some states offer streamlined, digital-first processes, others may involve intricate, time-consuming steps. Balancing between regulatory robustness and operational ease becomes a strategic manoeuvre, often influencing the final flag choice.

Registration Procedures and Costs Across Flag States

As each flag state brandishes its unique registration protocol and fee structure, here’s a comparative glimpse:

UK : With a well-established maritime history, the UK offers structured yet straightforward registration, with moderate fees.

Bermuda : Known for its efficient digital-first approach, Bermuda provides a streamlined process, though with slightly premium costs.

Gibraltar : Offering competitive fees, Gibraltar has made strides in simplifying its registration steps in recent years.

Isle of Man : A blend of traditional and modern, its procedures are comprehensive, with costs aligning with industry standards.

Cayman Islands : Famed for its efficiency, Cayman ensures swift processes but with a more premium fee structure.

British Virgin Islands (BVI) : BVI registration is relatively straightforward with moderate costs.

USA : Varied based on state, the US overall provides a robust infrastructure for yacht registration with a range of associated costs.

Marshall Islands : Recognized for its quick and efficient procedures, its costs are competitive, enticing many global yacht operators.

Jamaica : An emerging maritime hub, Jamaica offers simplified procedures with very competitive fees, positioning itself as a cost-effective choice.

Canada : Boasting a transparent and streamlined process, Canada's fees are moderate, reflecting its commitment to fostering maritime growth.

EU Flags : Within the EU, procedures and costs vary considerably. While some states prioritize digital processes and competitive fees, others remain more traditional with higher associated costs.

The balance between procedure simplicity and associated costs is paramount. The ease of registering a yacht and the transparency in cost structures can profoundly influence owners' decisions, particularly when juxtaposed against the myriad of other considerations.

In Conclusion

Selecting the ideal flag for a Caribbean-based charter yacht is not merely an administrative procedure; it's a multidimensional decision that touches the core of maritime operations, financial implications, and legal considerations. In navigating this intricate landscape, the value of an experienced maritime attorney cannot be understated. Such professionals, deeply entrenched in both the registration and regulatory worlds, prove invaluable.

However, a word of caution to both owners and agents: Seek attorneys who prioritize your unique aspirations and requirements, rather than those who might indiscriminately point towards their favored flag state partners. The attorney's dedication to the success of your specific application, their familiarity with the nuances of various jurisdictions, and their ability to provide tailored advice can make all the difference in the flagging journey.

Recognizing these complexities, Mainstay Consulting Group Ltd. extends its expertise in not just consulting but also in directing yacht owners and agents toward qualified maritime attorneys. We're not just invested in providing information; we're dedicated to ensuring that your maritime aspirations are realized with precision and efficiency. Whether it's insights into flagging, regulatory nuances, or referrals to top-tier maritime legal professionals, Mainstay is your trusted partner in ensuring a smooth sail across all maritime horizons.

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The Department of Economic Development (DED) is responsible for promoting the regristration of yachts, whether owned and operated on-Island, or from one of the other appropriate territories. These include member countries of the EU and European Economic Area, along with British Dependant Territories.

The DED's operation is conducted by the Shipping Register - which is staffed by marine surveyors whose professional backgrounds include Master Mariners, Marine Engineers and Naval Architects. They travel worldwide to ensure that standards on Manx ships are maintained.

Yacht owners and operators may take advantage of:

• Manx legislation which includes favourable taxation treatment
• No annual tonnage tax
• The prestige attached to the British Red Ensign which Manx vessels fly, and subsequent entitlement to the support of the United Kingdom Government - including consular services throughout the world
• The security of mortgages registered in the island
• A Registry which is prepared to assist the owner in matters relating to safety, prevention of oil pollution, manning and officer certification requirements for the yacht
• An efficient registration organisation, which can quickly and effectively process registry applications to suit the owner's and operator's requirements

The British Flag

Manx registered yachts are British Ships under the separate jurisdiction of the Isle of Man Marine Administration.

The majority interest in the yacht (ie at least 33/64 shares) must be owned by one of the following:

• Companies incorporated in the Isle of Man and having their principal place of business in the Isle of Man.  (There are no nationality requirements for ownership of such companies)
• Companies incorporated in the United Kingdom, Channel Islands, any British Dependent Territory* and having their principal place of business in any such territory
• Companies incorporated in member states of the European Union and European Economic Area Countries** and having their principal place of business in any such country.  It should be noted that the company may be incorporated in any of the above territories or member states and have its principal place of business in any other of the above territories or member states
• Limited Partnerships established and registered in the Isle of Man in accordance with the Partnership Act 1909 and the International Business Act 1994, and in certain prescribed countries as detailed in Manx Shipping Notice No 194 British citizens, British Dependent Territories* citizens, British overseas citizens, British subjects under the British Nationality Act 1981, or British Nationals (Overseas)
• Citizens of member states of the European Union and European Economic Area Countries.** A minority interest in a yacht (ie up to 31 shares) may be owned by non-qualified persons
• In the case of pleasure yachts of over 24 metres, if the qualified ownership is outside the Isle of Man or the ownership is a nominal function within the island, the owner must appoint either a manager or representative person in the Isle of Man having responsibility for the operation, safety and manning of the yacht

*British Dependent Territories

• British Antarctic Territory
• British Indian Ocean Territory
• Falkland Islands
• Pitcairn Islands
• St Helena and Dependencies
• Turks and Caicos Islands
• Virgin Islands (British)

**Member States of the European Union and European Economic Area Countries

• Czech Republic
• Liechtenstein
• Netherlands
• United Kingdom

In 2007, the Isle of Man introduced legislation to extend the number of countries accepted for ownership of Manx vessels, which was previously restrained to the UK/EU/EEA/British Dependent territories.

The list has now been extended to include:

• The Bahamas
• Marshall Islands
• New Zealand
• South Africa
• United Arab Emirates
• United States of America
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Yacht which sank off coast of Sicily is owned by company based on IoM

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Monday, 19 August 2024 13:49

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Registered owner Revtom Limited has address on North Quay

It’s understood a luxury yacht which sank off the coast of Sicily in the early hours of this morning (19 August) is owned by a company based on the Isle of Man.

The BBC has reported that Bayesian's owner is Revtom Limited which is registered at an address on North Quay in Douglas.  

One man has died and six other people are missing after the vessel – which was carrying 22 people – sank in a heavy storm .

The Bayesian is managed by Camper and Nicholsons International which has its headquarters in Monaco.

You can follow the BBC's live blog on the incident HERE .

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Lieutenant General Sir John Lorimer joined the British Army in 1981 and was commissioned into the Parachute Regiment a year later; he commanded 3 PARA from 2000 to 2003. He saw multiple operational deployments in Northern Ireland, the broader Middle East and Afghanistan. At higher command, he commanded 12th Mechanized Brigade and 3rd (UK) Division, completed a year long tour of Kabul as Deputy Commander of the NATO force in Afghanistan and was Chief of Joint Operations 2014 – 2017, commanding all of the UK Armed Forces global operations. His interests include shooting, deer stalking, most sports, skiing, walking and reading.

As an army daughter, Lady Lorimer grew up in Africa, Germany and Norway. She went to school in Dorset and then read Natural Sciences at Durham University. She was commissioned into the Royal Corps of Signals, deploying on operations in Namibia with the UN and in the Middle East during Gulf War 1. She left the Army to persue a career in the defence industry. She has been the Commanding Officer of the First Aid Nursing Yeomanry since July 2017. Lady Lorimer and her husband have 3 sons and her interests include keeping fit, fly fishing, skiing, hill walking and water sports. She is never happier than when exploring beaches and searching for interesting creatures in rock pools.

Michael has been a sailing member for six decades, holding various club posts since 1974; class captain for dinghies and National 18s, Membership Secretary, Bosun, Director, Sailing Secretary, Measurer, Mainsheet editor, boat-park administrator, as well as Rear and Vice Commodore and Commodore (twice). He has sailed in National and International events, in particular the National 18’s from 1976 – 2011. He and his crew won the 18 Class Championship four times and he was class Secretary 2000 to 2012 – re-building a dozen or so 18s over his 37 year involvement. He served on the MYA committee 1991 – 2019 and received the RYA Community Award for Lifetime Commitment in 2011.

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Robert took up sailing after moving to the Isle of Man in late 1996, joined the IOMYC soon after and has been an active member of the Club ever since. Passionate about all things water, these days you will find him sailing dinghies and keelboats, and in addition to local racing has competed in a number of RORC / Rolex offshore races both fully crewed and two handed. He bought his first boat in 2011 and currently owns TaniT a Sydney 36. Has held RYA Powerboat and Keelboat Instructor qualifications and was Commodore of the IOM Yacht Club between 2017- 2021. Do say hello, if he doesnt do so first, in the boat park or the club.

Iain has been a keen sailor since school when reluctant, non-sailing parents relented and bought him his first sailing dinghy. Experiences with the Ocean Youth Club and skippering opportunities at University were followed by a few carefree years as an RYA cruising instructor and race skipper at a UK sailing school. Offshore racing followed, sailing as either Skipper or Mate on competitive boats in Fastnet and Sydney Hobart races amongst others. Iain’s wife is also a sailor (just as well!) and they recently bought a Melges 24 which they are finding very rewarding, especially when sailing with their children. Iain still gets a buzz from helping people to develop their sailing skills, so if in doubt please ask and he will try to help!

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Rach was literally dragged into sailing in 2008 by her husband who thought it would be good to “be part of the Team” despite never having been sailing a day in her life! It didn’t take long to get the bug and fall in love with the amazing people that make up the Yacht Club. She still wouldn’t confess to being a particularly great sailor, but the fun and atmosphere keep her coming back all these years later. Rach part owns and races one of the First-Class 8 keel boats and is an avid attender of the various social events the club has to offer. She joined the Board at the end of 2021 as part of the clubs-revamp and re-launch to support the club in its’ strive to be all it can be for the local community and anyone who loves to be on the water.

Tracy lives in Port St Mary with her partner Dean and their rescue dog, Bertie. Since joining the Yacht Club in 2020 as a novice sailor she has completed the RYA dinghy course and powerboat level 2, joined the Social Committee, learnt how to (safely) serve toasties on a Sunday, crewed on Lilee, passed her RYA Day Skipper, crews a safety boat (occasionally) and is proud co-owner of Foillan. She is keen to warmly welcome to the IOMYC others who may be thinking about giving sailing a go. Tracy enjoys the social aspect of club life and as a Director, she leads on comms and media.

Chris was a late comer to sailing. He moved to the Isle of Man in 2021 and joined Isle of Man Yacht Club as he needed a place to park his RIB . Once a member, Chris discovered the club’s social environment and decided to move to Port St Mary so he wouldn’t have so far to travel. Chris has a Power Boat Level 2 certification and some limited sailing experience from a season of crewing on James Walker’s Corby 33 Lilee. He is also a club director, a regular safety boat volunteer, and he manages the maintenance of the club house.

Dean lives in Port st Mary with his partner Tracy and their rescue pup Bertie. They moved to the island in 2019 and joined the yacht club in 2020. He and his partner completed Comp Crew in 2016 and Day skipper in 2023, and is looking to complete intermediate and advanced powerboat in the future. Dean is currently Safety Officer (on water) . He manages all aspect of the safety boats required to support sailing events and is a keen social supporter of the club. Dean co owns Foillan with Tracy and owns RIB yellowfin, Dean also co owns and races Wet Weekend (SB3) with James Walker and Dan Shimmin. Normally found in the bar with other members, Dean would be delighted to welcome new members to the yacht club.

David has served on the Board of Directors continuously since 1994 and held the position of Honorary Treasurer for 23 years. He has served a 2-year term of office as Commodore. He is also Centre Principal for the Training section of the Club ensuring that RYA Standards are maintained. Although never competing in sailing events, he has spent hundreds of hours on the water in the capacity of Patrol boat for both racing and training events. Both of his children learnt to sail here and Christopher is now Chief Instructor.

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Jason, our Keel Boat Captain has been on the water sailing from a young child and can always be found sailing somewhere, whether it be a Flying Fifteen, First Class 8 or a First 31.7. Jason and his wife Debbie, in addition to cruising their First 31.7 Eauvation to Scotland, Wales, England, Ireland and France, have campaigned their yacht successfully at numerous overseas regattas over the last 15 years, with the help of fellow IOMYC sailors. If you need any help or advice on cruising or racing, or help getting a place onboard for our weekly racing I’m here to help.

Ben took up sailing when he moved to the island in 1990. Initially crewing on various yachts at DBYC . Most notably Jason Corletts Eauvation, taking part in numerous round Mann races, major regattas, and Beneteau 31.7 National championships. He joined IOMYC when he bought into a partnership with the Bradleys and Corletts in one of the original First Class 8s G8crasher. He also crews on Barlows N18, helping with achieving a total crewing age of close to 200. Recently he has been seconded / volunteered to the role of club Boatswain where he maintains the clubs increasing number of dinghies, ribs and the Yellow Peril.

Other Members of the committee are

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• Elke Zinnecker

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David has served on the Board of Directors continuously since 1994 and held the position of Honorary Treasurer for the last 23 years. He has served a 2-year term of office as Commodore. He is also Centre Principal for the Training section of the Club ensuring that RYA Standards are maintained. Although never competing in sailing events, he has spent hundreds of hours on the water in the capacity of Patrol boat for both racing and training events. Both of his children learnt to sail here and Christopher is now Chief Instructor.

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Body found after luxury yacht ‘carrying British passengers’ sinks off Sicily

Local media said a fierce storm, including water spouts, battered the area overnight.

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Louise Thomas

A body has been found after a luxury yacht believed to be carrying British passengers sank in bad weather off the coast of Sicily , authorities have said.

Fifteen people were rescued from the 55m (180ft) vessel but another seven are still missing, according to the area’s mayor.

A baby, along with its mother, was reportedly among those rescued and taken to hospital, according to Italian news outlet Corriere.

Four British passengers, two Americans and a Canadian are said to be missing, Italian news agency Ansa reported. It is not known what country the person who died is from.

The superyacht, named Bayesian, capsized at around 5am off Palermo and was flying a British flag, according to ship-tracking site Marine Traffic.

The body was found near the wreck at a depth of 50m (164ft), the fire and rescue services said.

The daily Il Giornale di Sicilia newspaper reported that the yacht had mostly British passengers on board, but also people from New Zealand, Sri Lanka, Ireland and British-French citizens.

Speaking earlier, Filippo Tripoli, the mayor of Bagheria in Sicily, said: “This morning, off the coast of Santa Flavia, a foreign boat sank due to bad weather, 15 people recovered and seven missing.

“Already all the police forces and emergency services are operational and our Red Cross volunteers are present.”

Karsten Borner, captain of a nearby boat, told journalists “a little baby and the wife of the owner” of the Bayesian were among the survivors, while those missing included the owner and a child, news agency Reuters reported.

He said his crew took on board some survivors who were on a life raft, including three who were seriously injured.

A spokesman for the Foreign, Commonwealth and Development Office (FCDO) said: “We are in contact with the local authorities following an incident in Sicily, and stand ready to provide consular support to British nationals affected.”

Bayesian completed a number of sailings in recent days, calling at various ports in Sicily, according to ship-tracking website VesselFinder.

The superyacht can accommodate up to 12 guests in six suites.

She was built in 2008 by Italian company Perini Navi.

Her registered owner is listed as Revtom Ltd.

There is little publicly-available online information about the company, which appears to be based on the Isle of Man.

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Six people missing, including British tech tycoon Mike Lynch, and one dead after tornado sinks luxury yacht off Sicily

R escuers were on Monday searching for six people – including British tech tycoon Mike Lynch – who went missing after a luxury yacht was hit by a tornado and sank off the coast of Sicily, killing one of the 22 people on board.

The vessel was hit by the tornado at around 5 a.m. Monday, according to a spokesperson for Italy’s Coast Guard. The yacht was anchored about a half a mile from the port of Porticello on the Mediterranean island.

Four Britons and two Americans are among those missing, the spokesperson said.

A source told CNN that Lynch, the founder of software giant Autonomy, was a passenger on the yacht. The source spoke to CNN on the condition of anonymity, as they were not authorized to speak to the media.

Fifteen people were rescued, including Lynch’s wife Angela Bacares, and one child was airlifted to the children’s hospital in Palermo. Eight people were hospitalized in total, according to the mayor’s office. One body was found on the hull of the yacht, the Coast Guard said.

A small waterspout – one of several types of tornadoes – developed over the area Monday morning, according to a report from the European Severe Weather Database. Other strong storms across Sicily brought torrential rainfall late Sunday, dumping more than 4 inches (100 mm) of rain in less than four hours in Brolo, east of Palermo.

The weather forecast had warned of potential strong winds, with storms across the entire southern region of Italy Sunday, the Coast Guard spokesperson added.

One survivor, Charlotte, 35, described how she battled to hold onto her one-year-old daughter, Sofia, reported Italian news agency ANSA, as a barrage of waves sank the yacht.

“In two seconds I lost the baby in the sea, then I immediately hugged her again amidst the fury of the waves. I held her tightly, close to me, while the sea was stormy,” she told journalists. “Many were screaming.”

The captain is among the survivors, the spokesperson for Italy’s Coast Guard said.

The 56-meter yacht called the “Bayesian,” which flies under a British flag, had mostly British passengers and crew, in addition to two Anglo-French, one Irish and one Sri Lankan, the spokesperson told CNN. The New Zealand Ministry of Foreign Affairs and Trade told CNN two of its citizens were involved in the incident, but were not among those still missing. The nationality of the dead person has not been disclosed.

The Italian fire brigade said its divers had reached the yacht’s hull 49 meters (160 feet) below sea level, according to a press statement. The brigade also dispatched helicopters to bolster the search operation.

The captain of a nearby boat said he turned on his engine to avoid crashing into the Bayesian, Reuters reported, as fierce gales swept the area.

“This morning we got this strong gust and we had to start the engine to keep the ship in an angled position,” he told reporters on Monday. “After the storm was over, we noticed that the ship behind us was gone.”

The UK’s Marine Accident Investigation Branch (MAIB) is deploying a team of four inspectors to Palermo to conduct a preliminary assessment of the yacht, a source familiar with the operations told CNN. The source, who spoke on the condition of anonymity, did not say when the team is expected to arrive in Sicily.

British tycoon among those missing

Lynch, the British entrepreneur missing from the yacht, had been plagued by legal woes since 2011 , when he sold his company to tech firm Hewlett-Packard (HP) for $11 billion.

In June, he was acquitted of fraud by a jury in San Francisco, after prosecutors accused him of trying to inflate Autonomy’s revenue in the latest chapter of the legal saga.

He turned ground-breaking research at Cambridge University into the foundation of Autonomy, which became Britain’s biggest software company and a member of the blue-chip FTSE 100 index.

Lynch was lauded by academics and scientists and asked to advise the British government on technology and innovation.

Ownership records held by maritime information service Equasis show that the yacht is owned by the Isle of Man-registered Revtom Limited company. Revtom Limited’s latest annual return from April lists Bacares as its owner.

This is a developing story and will be updated.

CNN’s Catherine Nicholls, Benjamin Brown and Eve Brennan contributed reporting.

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Five teenagers arrested after stabbing

Five teenagers have been arrested after a man was found with a stab wound.

Police were called to Thornhill, Southampton shortly after 21:00 BST on Thursday to reports of an altercation taking place on the green area between Byron Road, Gerard Crescent and Burke Drive.

Officers patrolling nearby found an 18-year-old man with a stab wound to his torso. He was taken to hospital where he is in a stable condition.

Officers remained in the area on Friday carrying out inquiries and high visibility patrols.

Three 17-year-old boys, all from Southampton, were arrested on suspicion of grievous bodily harm with intent and affray.

Police received a second call just after 23:00, relating to the welfare of a 19-year-old man at an address on Boswell Close.

The man later attended hospital for treatment for a hand injury.

The force said it believes this report was linked to the earlier altercation and two further people were arrested.

A 19-year-old man from Southampton was arrested on suspicion of affray and attempting to cause grievous bodily harm and a 17-year-old girl from Southampton was arrested on suspicion of grievous bodily harm with intent.

Sgt Louise Taylor said: “We know that those living locally will be concerned to hear of these incidents, however we want to reassure you that we are carrying out thorough and extensive enquiries today in order to establish the full circumstances of what has taken place and robustly deal with those responsible."

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Deep seas and tight spaces impede search for 6 missing after yacht sinks off Sicily

Italian Firefighters scubadivers sails towards the area where the UK flag vessel Bayesan that was hit by a violent sudden storm, sunk early Monday, Aug. 19, 2024, while at anchor off the Sicilian village of Porticello near Palermo, in southern Italy. (AP Photo/Lucio Ganci)[ASSOCIATED PRESS/Lucio Ganci]

PORTICELLO, Sicily (AP) — Police divers resumed searching Tuesday for six people believed trapped in the hull of a superyacht that sank in deep seas off Sicily, including British tech magnate Mike Lynch, who was celebrating his recent acquittal on fraud charges with the people who had defended him at trial.

The luxury sailboat, off Porticello near Palermo, was about 50 meters (164 feet) underwater — far deeper than most recreational divers are certified for and a depth that requires special precautions. Recovery crews could only stay for 12-minute shifts, a measure that slowed efforts to reach the cramped inside of the wreck.

Divers tag-teamed the shifts and were using a remote-controlled underwater vehicle, or ROV, to help in the search. They hadn’t been able to access the below-deck cabins because they were blocked by furniture that shifted during the violent storm that struck the vessel early Monday. Rescue crews said they assume the missing six are in those cabins because the storm struck when most would be sleeping, but the teams haven’t verified their presence there through portholes.

The Bayesian, a 56-meter (184-foot) British-flagged yacht, was moored about a kilometer (a half-mile) offshore when a storm rolled in before 4 a.m. Monday. Civil protection officials said they believed the ship was struck by a tornado over the water, known as a waterspout, and sank quickly .

Grainy film from closed-circuit cameras from shore, broadcast on the website of the Giornale di Sicilia, showed the majestic, illuminated 75-meter (246-foot) mast of the Bayesian weathering the storm and then disappearing over the course of a minute.

Italian Firefighters scubadivers sails towards the area where the UK flag vessel Bayesan that was hit by a violent sudden storm, sunk early Monday, Aug. 19, 2024, while at anchor off the Sicilian village of Porticello near Palermo, in southern Italy. (AP Photo/Lucio Ganci)

Photo: ASSOCIATED PRESS/Lucio Ganci

Fifteen of the 22 people aboard survived, including a mother who reported holding her 1-year-old baby over the waves to save her. One body was recovered, identified by officials as the Antiguan-born on-board chef. The rest of the 10-person crew survived, including the captain whom prosecutors reportedly sought to interview.

The survivors were rescued by a nearby sailboat after getting into a lifeboat.

Lynch, who was once hailed as Britain’s king of technology, was cleared in June of fraud and conspiracy charges in a U.S. federal trial related to Hewlett Packard’s $11 billion takeover of his company, Autonomy Corp. His wife, Angela Bacares, survived the sinking. Hannah Lynch, the couple’s 18-year-old daughter, is reportedly unaccounted for.

Also unaccounted for are Christopher Morvillo, one of Lynch’s lawyers, and his wife, Neda; and Jonathan Bloomer, a chairman at Morgan Stanley International and the former head of the Autonomy audit committee who testified in Lynch’s defense, and his wife.

Karsten Borner, the captain of the Sir Robert Baden Powell, which rescued the survivors, said he was close enough to see the Bayesian as the storm came in.

“A moment later, she was gone,” he said.

“It’s a great, great tragedy,” said Britain’s ambassador to Italy, Edward Llewellyn, who visited Porticello on Tuesday. Britain sent four investigators to the scene, given the disaster involved a British-flagged ship and British citizens were among the missing.

Luca Cari, a spokesman for the rescue teams, said the search was proceeding much more slowly than another big shipwreck in Italy, the 2012 Costa Concordia cruise ship that flipped on its side off Tuscany’s coast, because of the depth of the wreck and the limited space divers have to maneuver.

“That was much simpler. Here everything is more tight,” he said.

The outing was intended at least in part as a celebration of Lynch’s acquittal and a “looking forward to what was coming next,” said Reid Weingarten, a Washington attorney and a member of Lynch’s defense team who was not on the yacht.

“A lot of people went, a lot of people were planning to go and then, of course, this happened,” Weingarten said.

Weingarten worked with Morvillo and said he “was like a brother.”

Aki Hussain, CEO of international insurer Hiscox Group, where Bloomer was chairman, said the company was “deeply shocked and saddened by this tragic event.”

“Our thoughts are with all those affected, in particular our Chair, Jonathan Bloomer, and his wife Judy, who are among the missing, and with their family as they await further news from this terrible situation,” he added.

Among the survivors, the Emslie family was released from Palermo’s pediatric hospital on Tuesday. Charlotte Golunski had reported that she momentarily lost hold of her 1-year-old daughter, Sofia, in the water but then managed to hold her up over the waves until they were both pulled to safety, doctors said.

The father, identified by ANSA news agency as James Emslie, also survived.

“They don’t talk much, primarily because they consider themselves survivors and they don’t understand why they survived given what they went through,” said Dr. Domenico Cipolla, head of the emergency room at Di Cristina pediatric hospital.

Speaking to reporters Tuesday, Cipolla said the parents had been in touch with other survivors, who are being housed at a nearby hotel and were waiting for other family members to arrive in Sicily.

The Bayesian, built in 2008 by the Italian firm Perini Navi, is registered to Revtom Ltd., according to online maritime database Equasis. Bacares, Lynch’s wife, is listed as Revtom’s sole owner, according to corporate registration documents from the Isle of Man.

According to online charter companies, it had been available for charter for 195,000 euros (about $215,000) a week and was notable for its massive 75-meter-tall (246-foot-tall) aluminum mast, one of the tallest in the world.

The coast guard said to date there was no trace of fuel leaks from the wreckage.

In an unrelated event, Lynch’s co-defendant in the Autonomy trial who was also cleared, Stephen Chamberlain, was killed Sunday when he was hit by a car while running in Cambridgeshire, England, said Chamberlain’s lawyer, Gary Lincenberg.

Winfield reported from Rome. Associated Press writers Eric Tucker in Washington; and Danica Kirka and Kelvin Chan in London, contributed to this report.

Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

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