These changes are designed at making registration more attractive and simpler for its clients:

NEW FLAG-IN REQUIREMENTS
The Registry have removed some of the ‘barriers’ - some perceived and some ‘real’ - for clients wishing to register. It will now be simpler, easier to arrange and more cost effective. The changes include:

Pre-registry Survey Requirements
Where an absolute requirement to visit and inspect each vessel prior to registration was in place, the Ship Registry have changed this policy. With improved data and intelligence on ship performance, they can now waive this requirement for vessels under 10 years of age which satisfy their vetting processes for both ship and company performance. This includes new builds, many of which are under construction in the Far East, and should assist the registry process and reduce the initial costs for Isle of Man registration dramatically.

Accepted Ship Types
In addition, the Ship Registry have introduced previously excluded ship types such as passenger vessels. This is a natural progression as super yachts become larger and move towards full SOLAS compliance for greater ‘guest numbers’.

Age limits
The Registry have changed the limits to age on entry for ships. Previously set at 15 years – this has been extended to 20 years, and even further for vessels which are technically managed from the Isle of Man.

ACCEPTED COUNTRIES
In 2007 the Isle of Man introduced legislation to extend the number of countries accepted for ownership of Manx vessels. Previously the Registry was constrained by legislation inherited from the UK to EU; EEA and British Dependent Territories.

The list of accepted countries has now been extended to include: Australia; the Bahamas; Canada; China; Hong Kong; India; Japan; Liberia; Marshall Islands; New Zealand; Pakistan; Panama; Russia; Singapore; South Africa; United Arab Emirates; and United States of America.