Jamaica superyacht flag gives competition a run for its money

Following the launch of Jamaica Ship Registry’s new superyacht division, its technical team has done some vigorous polishing work to give the flag what it sees as 'strong advantages' over peer flag states. It has also benefited from new yachting laws to make it more superyacht friendly.
 
Now industry insiders say Jamaica is poised to be 'the next go-to flag.'

Captain Jake DesVergers, International Yacht Bureau (IYB), appointed as advisor to Jamaica’s flag on technical and statutory issues, has been working over the past few months to fine-tune the registry. He argued it is now in a position to offer some unique advantages, owing to Jamaica’s position as annexed to, but independent of British law:
 
“Jamaica [as a member of the British Commonwealth] can be selective in using the best practices of the yachting world, while eliminating any negative or bureaucratic actions that may hinder an efficient programme,” said DesVergers.



“This is most easily seen in their acceptance of the MCA’s Large Yacht Code, but their own national interpretation allows well-built unclassed yachts the opportunity to achieve commercial certification for charter.”
 
Jamaica’s superyacht flag has three types of registrations: Private, Private Charter, and Commercial. The second option is for limited charter use of the yacht, allowing the yacht to recoup its operating expenses through limited charter operations not to exceed 84 days per year.

DesVergers says it shares similarities with Marshall Islands and St. Vincent & the Grenadines in this respect, but with a key difference: Jamaica has taken a “realistic approach” to tailor requirements based upon a yacht’s size and number of crew.  “Jamaica identifies that a single blanket standard is not acceptable for a 45m poweryacht in comparison to that needed on a 20m sailing yacht,” said DesVergers.



There are other interesting differences that stand out from Jamaica’s requirements when compared to other flag states. There is no requirement for re-registration for private to commercial, for example. A yacht de-registers from the flag and then re-registers as a commercial yacht, which is designed to be a simpler process. There is also no need for corporate registration to have a corporate entity in Jamaica, only a physical presence established through a local representative.
 
There are up to 12 yachts completing the registration process currently, a level of response DesVergers is pleased with. "Interest in the flag still in its early stages has been good," he said.

After the flag first launched in December 2012, it received its first boost when government removed its complicated levies. Customs duty, customs user fees, and General Consumption tax on Jamaican-registered yachts were scrapped in favour of a single annual fee. Jamaica’s information minister pledged that it would “stimulate nautical tourism and yacht registration in Jamaica."

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