Sao Tome and Principe Ship Registration
Sao Tome and Principe, an island nation located off the western coast of Central Africa, allows for flexible ownership structures, including ownership by non-residents and corporations, subject to compliance with their regulations.
Registering a ship under the Sao Tome and Principe flag offers advantages such as: (a) competitive registration and tonnage tax rates, (b) no restrictions on ship ownership or crew nationality, and (c) flexible registration options. Sao Tome and Principe is currently on the Black List of the Paris MoU, indicating higher safety and compliance risks.
Facts & Info about: Sao Tome and Principe Ship Registration
- Ownership:Ships can be owned by individuals or companies of any nationality.
- Company Formation: The owning company can be registered in Sao Tome and Principe or elsewhere.
- Directorship: No specific residency requirements for directors.
- Resident Agent: Not required.
- Office Address: The company must have a registered office, which can be a representative office in Sao Tome and Principe.
- Annual Maintenance: Annual tonnage tax and maintenance fees must be paid.
- Inspections: Regular safety and compliance inspections as mandated by the Sao Tome and Principe Maritime Administration.
- Financial Statements: Not explicitly required.
- Tonnage Tax System: Sao Tome and Principe has a tonnage tax regime.
- Income Exemptions: Income from the operation of Sao Tome and Principe-registered vessels can be tax-exempt under certain conditions.
- Capital Gains: No capital gains tax on the sale or transfer of a Sao Tome and Principe-registered vessel or the shares of a shipping company.
- Registration Process: The registration process is typically swift, taking a few days.
- Sao Tome and Principe Maritime Law: Governs the registration, sales, and mortgages of ships.
- Tonnage Tax Law: Regulates the taxation system based on tonnage.
- Flag State Control: Sao Tome and Principe maintains high standards of safety, security, and environmental protection.
- Reputation: Sao Tome and Principe is not on the Paris and Tokyo MoUs.
- Support Services: Comprehensive maritime services including ship management and legal support.
- Strategic Location: Attractive due to its favorable regulatory environment.