St. Kitts and Nevis Ship Registration
By registering a ship in St. Kitts and Nevis it offers competitive registration costs.
Registering a ship under the St. Kitts and Nevis flag provides several advantages including: (a) competitive registration and tonnage tax rates, (b) a favorable regulatory environment with no restrictions on ship ownership or crew nationality, and (c) efficient administrative services. St. Kitts and Nevis is currently on the Grey List of the Paris MoU, indicating moderate safety and compliance standards.
Facts & Info about: St. Kitts and Nevis Ship Registration
- Ownership:Ships can be owned by individuals or companies of any nationality.
- Company Formation: The owning company can be registered in St. Kitts and Nevis 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 St. Kitts and Nevis.
- Annual Maintenance: Annual tonnage tax and maintenance fees must be paid.
- Inspections: Regular safety and compliance inspections as mandated by the St. Kitts and Nevis International Ship Registry (SKANReg).
- Financial Statements: Not explicitly required.
- Tonnage Tax System: St. Kitts and Nevis has a tonnage tax regime.
- Income Exemptions: Income from the operation of St. Kitts and Nevis-registered vessels can be tax-exempt under certain conditions.
- Capital Gains: No capital gains tax on the sale or transfer of a St. Kitts and Nevis-registered vessel or the shares of a shipping company.
- Registration Process: The registration process is typically swift, taking a few days.
- St. Kitts and Nevis Maritime Law: Governs the registration, sales, and mortgages of ships.
- Tonnage Tax Law: Regulates the taxation system based on tonnage.
- Flag State Control: St. Kitts and Nevis maintains high standards of safety, security, and environmental protection.
- Reputation: St. Kitts and Nevis is on the Grey List of the Paris MoU.
- Support Services: Comprehensive maritime services including ship management and legal support.
- Strategic Location: Attractive due to its favorable regulatory environment.