Comoros Ship Registration
The strategic location of the Comoros in the Indian Ocean can facilitate regional trade and logistics.
Registering a ship under the Comoros flag provides several advantages, such as (a) competitive registration and tonnage tax rates, (b) no restrictions on ship ownership or crew nationality, and (c) flexible registration options. The Comoros flag is currently on the Black List of the Paris and and on the Grey List of the Tokyo MoUs, indicating higher safety and compliance risks.
Facts & Info about: Comoros Ship Registration
- Ownership: Ships can be owned by both Comorian and foreign individuals or companies.
- Company Formation: The owning company can be registered in Comoros or elsewhere.
- Directorship: There are no specific requirements for directors to be Comorian residents.
- Resident Agent: Not required.
- Office Address: The company does not need to have a registered office in Comoros.
- Annual Maintenance: Annual tonnage tax and maintenance fees must be paid.
- Inspections: Regular safety and compliance inspections are mandatory.
- Financial Statements: Not explicitly required.
- Tonnage Tax System:Tax is based on the ship's net tonnage rather than its profits.
- Income Exemptions: No tax on profits from the operation or management of a Comoros-registered vessel.
- Capital Gains: No capital gains tax on the sale or transfer of a Comoros-registered vessel or the shares of a shipping company.
- Registration Process: Typically takes 2-3 days for provisional registration and several weeks for permanent registration.
- Maritime Law: Governs the registration, sales, and mortgages of ships in Comoros.
- Tonnage Tax Law: Regulates the taxation system based on tonnage rather than profits.
- Flag State Control: Comoros is working towards improving its compliance with international maritime regulations.
- Reputation: Comoros is currently on the Black List of the Paris MoU.
- Support Services: Comoros offers maritime services including management, legal, and logistical support.
- Strategic Location: Comoros’s favorable regulatory environment offers advantages for global shipping operations.