FAQ: Yacht Registration in Saint Lucia

1. Who is eligible to register a yacht in Saint Lucia?
   Both citizens and residents of Saint Lucia, as well as foreign nationals and companies, are eligible to register a yacht. Foreigners may register through a local representative or by establishing a Saint Lucia-based company.

2. Why register a yacht in Saint Lucia?
   Saint Lucia offers several advantages, including competitive registration fees, no capital gains tax, an efficient registration process, and a recognized maritime registry that is compliant with international standards.

3. What types of yachts can be registered in Saint Lucia?
   Private yachts, commercial yachts, pleasure vessels, superyachts, and yachts under construction can all be registered in Saint Lucia.

4. What documents are required for yacht registration in Saint Lucia?
   Required documents include:Proof of ownership (Bill of Sale or Builder’s Certificate)
   Certificate of incorporation (if owned by a company)
   Proof of identity (for individual owners)
   Tonnage certificate from a recognized surveyor (for larger yachts)
   Seaworthiness certificate (for commercial yachts)
   Previous registration certificate (if applicable)
   Proof of insurance
   Completed application form for yacht registration
   

5. How long does the registration process take in Saint Lucia?
   The process typically takes between 3 to 7 business days, depending on the completeness of the documents submitted.

6. Can foreign nationals register a yacht in Saint Lucia?
   Yes, foreign nationals and companies can register yachts in Saint Lucia. They may need to establish a local company or appoint a local representative to handle the registration.

7. What are the costs associated with yacht registration in Saint Lucia?
   The costs vary depending on the size and type of the yacht (private or commercial). Fees include initial registration, tonnage-based fees, and annual renewal fees.

8. Is VAT applicable for yachts registered in Saint Lucia?
   Saint Lucia offers a tax-friendly regime, including no capital gains tax. However, VAT may be applicable on imports of yachts or other related services.

9. Are there annual fees for yacht registration in Saint Lucia?
   Yes, annual renewal fees are required for maintaining the registration, which are typically based on the yacht’s gross tonnage and its use.

10. Can I register a mortgage on a yacht in Saint Lucia?
    Yes, mortgages can be registered on yachts in Saint Lucia. This is essential for financing and provides legal protection for both lenders and yacht owners.

11. Can I register a yacht under construction in Saint Lucia?
    Yes, Saint Lucia allows for the registration of yachts under construction, provided the necessary documents are submitted.

12. What inspections or surveys are required for yacht registration?
    Yachts, particularly larger and commercial vessels, may need to undergo inspections or surveys to verify their seaworthiness and compliance with maritime safety standards.

13. Can I fly the Saint Lucia flag once my yacht is registered?
    Yes, once your yacht is registered in Saint Lucia, you are entitled to fly the Saint Lucia national flag.

14. Is dual registration allowed in Saint Lucia?
    No, dual registration is not permitted. A yacht registered in Saint Lucia cannot be simultaneously registered in another country.

15. How do I renew my yacht registration in Saint Lucia?
    Yacht registrations in Saint Lucia must be renewed annually. You will need to submit a renewal form and pay the applicable renewal fees to maintain the yacht’s registration.

16. What happens if I sell my yacht?
    When selling your yacht, the new owner must update the registration under their name. A transfer of ownership will need to be processed with the relevant maritime authority.

17. Where can I get more information about yacht registration in Saint Lucia?
    For more detailed information, you can contact the Saint Lucia Maritime Authority or consult a local maritime lawyer or representative specializing in yacht registration.