Marshall Islands Company Formation :: Maritime Services :: Commercial Vessel or Yacht and Private Yacht Registrations

The Republic of Marshall Islands ("RMI") ship registry program was initiated by the Marshall Islands Government in 1988. With the adoption of a new Maritime Act 1990, the maritime laws of the RMI were brought in line with the many changes in ship registration, financing and licensing which have occurred in shipping industry. RMI maintains a comprehensive legislative and regulatory framework which ensures that the shipping registry complies fully with internationally agreed standards of the International Maritime Organization ("IMO"). RMI ship registry is now the ninth largest open registry in the world.

Commercial Vessels (Home Port - Majuro) Seagoing vessels of any tonnage engaged in foreign trade are eligible for registration in the RMI. Vessels should be under 20 years of age at the time of registration. Waivers may be granted for older vessels depending upon their condition and classification. Offshore exploration, production, construction and pipe laying vessels, and other seagoing vessels engaged in the service sector of the offshore energy industry are eligible for registration in the RMI, consistent with age, survey and classification requirements. The diversification of vessels in this category may require the Maritime Administrator to request additional vessel information. Commercial Yachts (Home Port - Bikini or Jaluit) Any yacht engaged in trade, commerce, on charter or carrying passengers for hire is a commercial yacht. The registration of commercial yachts is limited to those of 24 meters or more in length. The Maritime Administrator may consider waiving the minimum size limitations and other requirements for commercial yachts. Ownership: Ownership of commercial vessels and commercial and private yachts must be through a Marshall Islands entity. Entities such as corporation or qualified foreign maritime entities are sufficient for this purpose.
Documentation Required For Vessel Registration Application for Official Number, Call Sign, and Registration of Vessel Bill of Sale or Builder's Certificate transferring title to applicant (3 copies are sufficient) Power of Attorney or Secretary's Certificate of Corporate Resolution Certificate of Confirmation of Class issued by Classification Society dated no earlier than 10 days prior to registration Classification Society Statement or Affidavit that the vessel is "fit to proceed to sea" Special Survey on vessels 15 years or older from the Classification Society Application for Minimum Safe Manning Certificate (This is submitted to the Seafarers' Identification and Certification Division prior to registration.) ISM Code Declaration of Company and Designated Person Proof of Liability Insurance, including owner's repatriation obligations Permission to Transfer or Cancellation Certificate issued by the registry from which the vessel is being transfered Proof that vessel is free of recorded liens and encumbrances Within 90 days of registration, an Application for Ship Radio Station License must be submitted Required fees All applications for Provisional Registration are subject to approval by this Administration. Accordingly, the mere submission of an application for Provisional Registration does not ensure that a vessel will be accepted for entry into the registry or flag of the Marshall Islands.

Private Yachts (Home Port - Bikini or Jaluit) The Administration considers any pleasure yacht not on charter or carrying passengers for hire, not engaged in trade or commerce and being used solely for the pleasure or recreational purposes of its owner to be a private yacht. The registration of private yachts is limited to those of 12 meters or more in length. The Maritime Administrator may consider waiving the minimum size limitations and other requirements for private yachts. Private yachts may be chartered out for twelve weeks to allow for the yacht owner to recoup some of his/her capital investment. This chartering privilege exempts the yacht of having to be registered as a commercial yacht. However, those who wish to charter their private yacht in accordance with the privilege will have to satisfy additional requirements that are not imposed on yachts that are intended purely for private use. Ownership: A Marshall Islands citizen or national or a qualified foreign maritime entity must own the vessel. The term "citizen" or "national" includes Marshall Islands corporations, limited liability companies, partnerships and associations of individuals.
Requirements for Registration Application Form Power of Attorney and/or Corporate Resolutions that incorporate a Power of Attorney. Proof of Ownership, i.e., Bill of Sale, Builder's Certificate. Declaration of Private Use. Tonnage Measurement Certificate Verification of Suitability for Intended Use: - if classed, by a Certificate of Confirmation of Class issued by a Classification Society recognized by the Maritime Administrator, or - if not classed, by a Certificate of Survey, Statement of Compliance or other document issued by a recognized Classification Society surveyor, an Authorized Surveyor or an underwriter's assessor for the company that will be insuring the yacht. Either confirmation of Hull and Machinery and P&I coverage or Cover Note on a combined policy of insurance issued by a recognized insurance company in a form acceptable to the Maritime Administrator. (Proof of hull and machinery and liability coverage from an underwriter in policy form acceptable to the Maritime Administrator is required) Proof that vessel is free of liens or encumbrances. If the yacht is not a newbuilding and is currently documented in another country, consent from that country to the vessel's transfer to the Marshall Islands. Payment of Registration Fees Payment of first year's Annual Tonnage All applications for Provisional Registration are subject to approval by this Administration. Accordingly, the mere submission of an application for Provisional Registration does not ensure that a vessel will be accepted for entry into the registry or flag of the Marshall Islands.