ARTICLE
2 September 2015

BVI Set For Further Ship Registration Categorisation Upgrade

W
Walkers

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We are a leading international law and professional services firm providing legal, corporate and fiduciary services to global corporations, financial institutions, capital market participants and investment fund managers. With a global presence spanning the Americas, Europe, the Middle East and Asia, we advise on the laws of Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, Ireland and Jersey. With over sixty years of looking at the world through the same commercial lens as our clients means we deliver focused, clear, precise advice to get the deal done. Clients trust us to help them make good business decisions, create commercially sound products and strategies, resolve disputes and cement deals that are profitable. From offices across geographies, we deliver business-critical advice and service in the same time zones as our clients, covering asset management, investment funds, corporate, M&A, dispute resolution, finance, insurance, fintech, private capital and trusts, regulatory and more
It is expected that an announcement will soon be made that will officially signal BVIs upgrade to unrestricted Category I status allowing the BVI registry to register vessels of unlimited tonnage and type.
British Virgin Islands Transport
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It is expected that an announcement will soon be made that will officially signal BVIs upgrade to unrestricted Category I status allowing the BVI registry to register vessels of unlimited tonnage and type. Walkers will provide further details of this and other related developments in due course. Bermuda, Cayman Islands, Gibraltar, Isle of Man and the UK are the other registries in the Red Ensign Group that have similar unrestricted Category I status.

Back in 2007, BVI announced with much pride that the BVI Shipping Registry, then a Category II registry, was officially upgraded to Category I status following a thorough 3-year preparatory programme. The new status permitted BVI to register general cargo vessels of unlimited tonnage and yachts of up to 3000 gross tons (which covered most pleasure and commercial yachts presently being built, including mega yachts).

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