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