Registration of a New build Superyacht

In taking delivery of a newbuild superyacht, we were reminded of the complexity of the registration processes. As is normal, a shipyard will not want to provide the undefaced Builder’s Certificate (which acts as the Bill of Sale and therefore transfers title) until it is paid in full. However, the final payment is made when the yacht is fully ready for handover, for which all the vessel certificates must be issued. However, the technical certificates require details such as the Official Number, for the yard to complete them. But for that you need a ship registration. And for that you need the Builder’s Certificate. And so it goes on.

The practical answer is a Provisional Certificate of Registry, but this causes issues for the export from Europe (to mitigate VAT), because shipyards and customs officials want to act on full, operational Certificates of Registry.

In the end, the shipyard was accommodating and the export occurred with a Provisional CoR, the BVI registry issued the Official Number in advance to enable the yacht’s certificates to be issued, delivery took place very late at night and our longstanding client was onboard the following day to celebrate a very special milestone birthday!

James Foley-Comer
Partner