Tourism, and especially the yachting sector, is one of the leading industries in the British Virgin Islands, and the Territory has a well developed and successful Shipping Registry. There is no VAT on yachts registered in the Territory and European tax laws do not apply.
The Virgin Islands Shipping Registry is an extension of the British Registry, and effective 4 June 2008 is now a Category 1 register. The new status means VISR is now able to register general cargo ships of unlimited tonnage, and mega yachts of up to 3000 GT.
Harneys' admiralty law practice is among the most experienced in the British Virgin Islands, and has gained an international reputation for quality legal advice relating to all aspects of the acquisition, registration, financing, disposal and operation of vessels in the context of a tax neutral port of British registry.
The firm also conducts a large international admiralty litigation practice which advises and acts in the arrest, detention and implementation of maritime claims against vessels.
For further information please contact Sheila George. |
