VI Shipping Registry Increases Efforts Attract Mega Yachts To The BVI

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Friday, April 4, 2014 – 1:29pm – [GIS]
Greater efforts are being made to attract large commercial yachts to not only cruise the BVI, but to also own vessels in the Territory and fly the Red Ensign Group flag registered under the VI Shipping Registry.

Director of the VI Shipping Registry (VISR), Mr. John Samuel shared the long-term goals and services of the department as he addressed a forum on Synergies in Shipping.

Mr. Samuel stated, “The Virgin Islands Shipping Registry (VISR) is a member of the Red Ensign Group (REG) of British Shipping Registries. The REG is made up from the United Kingdom, the Crown Dependencies such as Isle of Man, Guernsey and Jersey, and the UK Overseas Territories. All of which operate shipping registers from their jurisdictions”.
During his presentation Mr. Samuel explained the role of the VI Shipping Registry, the types of ships that can be registered in the Territory, the importance of registering ships in the Territory, the international protection and recognition offered to registered ships, as well as the countries that are eligible register ships in the Virgin Islands.

He urged the industry to adopt the business of Ship Registration as one of their revenue streams, and as part of their corporate package within the Virgin Islands’ jurisdiction. In so doing, companies can partner with the Virgin Islands Shipping Registry in further developing and promoting the business.

The VISR Director also outlined the plans to attract mega yachts to the Territory through pleasure boating and bigger ships to the Virgin Islands register, thereby increasing ship registrations.

The VISR generates revenue through its services which include audits, surveys, inspections, certifications, registration and annual fees. The presentation which was held on March 20 at Maria’s By the Sea, attracted over 74 attendees representing 29 private sector entities in the BVI.

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