Tanzania Ship Registration
By registering a ship under the Tanzania flag it provides the strategic benefit of operating under an internationally recognized flag with access to major shipping routes along the East African coast.
Registering a ship under the Tanzania flag offers many benefits such as: (a) competitive registration fees and tonnage taxes, (b) a flexible regulatory framework, and (c) no restrictions on ship ownership or crew nationality. Tanzania is currently on the Black List of the Paris MoU, indicating higher safety and compliance risks.
Facts & Info about: Tanzania Ship Registration
- Ownership:Ships must be owned by Tanzanian citizens or companies.
- Company Formation: The owning company must be registered in Tanzania, typically as a limited liability company under the Companies Act.
- Directorship: Must comply with local corporate governance requirements.
- Resident Agent: Not explicitly required.
- Office Address: The company must have a registered office in Tanzania.
- Annual Maintenance: Annual tonnage tax and maintenance fees must be paid.
- Inspections: Regular safety and compliance inspections as mandated by the Tanzania Ports Authority.
- Financial Statements: Submission of annual financial statements and other regulatory documents.
- Tonnage Tax System: Tanzania has a tonnage tax regime.
- Income Exemptions: Income from the operation of Tanzanian-registered vessels can be tax-exempt under certain conditions.
- Capital Gains: Capital gains tax may apply on the sale or transfer of a Tanzanian-registered vessel.
- Registration Process: The registration process can take a few weeks depending on documentation and compliance with Tanzanian maritime laws.
- Tanzania Maritime Transport Act: Governs the registration, sales, and mortgages of ships.
- Companies Act:Regulates corporate formation and governance.
- Tonnage Tax Law: Regulates the taxation system based on tonnage.
- Flag State Control: Tanzania maintains high standards of safety, security, and environmental protection.
- Reputation: Tanzania is not on the Paris and Tokyo MoUs.
- Support Services: Comprehensive maritime services including ship management and legal support.
- Strategic Location: Key location in East Africa.