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Cayman Ship Registry Announces Successful Year

Thursday, January 20, 2011

Cayman Maritime, the parent organization of the Cayman Island shipping registry, has welcomed what has been a successful year for the islands’ maritime industry.

Over the past twelve months, Cayman Maritime reported, there has been significant interest in the island in terms of vessel registration, despite economic difficulties on a global scale and in other industries.

In fact, 2010 was among the best years ever experienced by the Register, established in 1903, in terms of both the total number of vessels registered and the combined gross registered tonnage.

At the end of 2010, a total of 1,870 vessels were listed on the Register, up from 1,815 in 2009. Gross registered tonnage also showed an increase, going from 3.7 million in 2009, to 3.9 million at the end of 2010.

Chalking up some 254 new vessel registrations in 2010, it was the second best year ever in terms of new units registered. This placed it just slightly behind the organisation’s best year, 2008, which had a total of 275 new units listed.

Cayman is a Category 1 Red Ensign Registry, meaning it can register a vessel of any age, type and size, providing it meets the requisite international standards, as well as those of the Cayman Registry itself. The world leader in the registration of superyachts, some 85% of registered vessels are private yachts, with the remaining 15% falling into the commercial category.

Cayman Registry also maintains a large portfolio of “new builds” or ships under construction, which Registry surveyors keep a consultative eye on during the entire construction phase to ensure that all vessels are built to the highest international construction standards and regulations. The vast majority of these, upon launch, then adopt the Cayman flag. At year’s end, there were 111 Cayman ships under construction worldwide.

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The Report

Offshore Trusts Guide: Introduction

The History of Offshore Trusts
Development of Professional Competence in the Jurisdictions
What Future for the Trust?
The New Age of Transparency
The Swiss Association of Trust Companies
The Society of Trusts and Estates Practitioners

Offshore Trusts Guide: Jurisdictions

Bahamas

Bahamas: Legal Framework and Formation Rules and Fees
Bahamas: 2006 Private Trust Companies Legislation

Barbados

Barbados: Legal Framework and Formation Rules and Fees
Barbados: Supervisory and Licensing Regime and Fees

Bermuda

Bermuda: Legal Framework and Formation Rules and Fees
Bermuda: Supervisory and Licensing Regime and Fees

British Virgin Islands

British Virgin Islands: Legal Framework and Formation Rules and Fees
British Virgin Islands: Special Trusts Act 2003
British Virgin Islands: The Trustee Act 2003
British Virgin Islands: :Supervisory and Licensing Regime and Fees
British Virgin Islands: New Laws on Private Trust Companies
British Virgin Islands: New Private Trust Company Regulations

Cayman Islands

Cayman Islands: Legal Framework and Formation Rules and Fees
Cayman Islands: Supervisory and Licensing Regime and Fees

Cook Islands

Cook Islands: Legal Framework and Formation Rules and Fees
Cook Islands: Supervisory and Licensing Regime and Fees

Cyprus

Cyprus: Legal Framework and Formation Rules and Fees
Cyprus: Supervision, Licensing and Tax

Gibraltar

Gibraltar: Legal Framework and Formation Rules and Fees
Gibraltar: Legislation, Regulation and Supervision

Guernsey

Guernsey: Legal Framework and Formation Rules and Fees
Guernsey: Trusts Law 2007

Isle of Man

Isle of Man: Legal Framework and Formation Rules and Fees
Isle of Man: Supervisory and Licensing Regime
Isle of Man: Uses Clients and Tax Treatment

Jersey

Jersey: Legal Framework and Formation Rules and Fees
Jersey: Supervisory and Licensing Regime
Jersey: Trusts Amendment Act 2006
Jersey: Foundations

Liechtenstein

Liechtenstein: Legal Framework and Formation Rules and Fees
Liechtenstein: Regulation Supervision and Transparency
Liechtenstein: Characteristics of Liechtenstein Trusts
Liechtenstein: Foundations

Madeira

Madeira: Legal Framework and Formation Rules and Fees

Malta

Malta: Legal Framework and Formation Rules and Fees
Malta: The Trust and Trustees Act 2004

Mauritius

Mauritius: Legal Framework and Formation Rules and Fees
Mauritius: Characteristics of the 2001 Trusts Act
Mauritius: Additional Provisions of the 2001 Trusts Act
Mauritius: Tax Treatment

Monaco

Monaco: Legal Framework and Formation Rules and Fees

Nevis

Nevis: Legal Framework and Formation Rules and Fees

Panama

Panama: Legal Framework and Formation Rules and Fees
Panama: Requirements for Acting as Trust Company in Panama

Seychelles

Seychelles: Legal Framework and Formation Rules and Fees

Turks & Caicos

Turks & Caicos: Legal Framework and Formation Rules and Fees
Turks & Caicos: The Voidable Dispositions Ordinance

Vanuatu

Vanuatu Legal Framework and Formation Rules and Fees




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