BERMUDA A WORLD-CLASS CENTRE FOR SHIPPING

Bermuda is a blue-chip international finance centre Experience and quality that has served as a vital mid- distinguish Bermuda’s Atlantic port for more than four shipping registry, a Category centuries. Today, it is a global 1 member of the prestigious nexus for reinsurance, funds, British Group trusts, private-client business (REG). Recognised worldwide, REG members enjoy efficient and family-office structures— transfer between ports, swift as well as ship ownership and and cost-effective ownership The island’s global law firms, management companies, a changes, access to British secure and reliable legal highly-respected ship registry, embassies and consulates. system, and the domicile’s and a full range of maritime sophisticated corporate services. Facilities on the island Renowned for its top-tier environment provide ship include world-class marinas, regulatory leadership, owners with unrivalled provisioning agents, boatyards, Bermuda offers ship and expertise as well as access and repair, fueling and other yacht registration services, to a full slate of associated vessel-support services. surveys and certification. financial services.

Connecting Business Bermuda’s shipping registry

Bermuda’s shipping registry is Islands, , large cruise ships, especially a Category 1 (Cat 1) member , , Anguilla, with the new generation of of the prestigious British Turks and Caicos, Falkland passenger ships embracing Red Ensign Group (REG), Islands, St Helena, Montserrat the ‘safe return to port’ supporting a worldwide and the UK, which collectively concept. portfolio of vessels. Bermuda provide high-quality ship Maritime Administration registration services to Certified to the top can register vessels of any discerning clients. (ISO 9001:2008) quality type, age or size if they meet management standards, necessary standards. Today’s Bermuda fleet Bermuda ranks high in the consists of large cruise ships, white list of the Port State Ships or yachts registered in oil, gas and chemical tankers, Control regimes of both Bermuda fly the red ensign container ships, bulk carriers, Paris and Tokyo MOUs and or the red ensign with offshore vessels (FPSOs, FSOs, is recognised by the United Bermuda’s coat of arms. oilrigs), cruising and mega- States Coast Guard in its The REG includes the Isle yachts. The jurisdiction has QUALSHIP 21 quality of Man, , Cayman extensive experience with shipping programme.

Services SURVEY, CERTIFICATION, AUDITING AND INSPECTIONS Vessels on the main register All statutory surveys required Issuing of exemptions Vessels on the demise under relevant international when necessary charter register, both conventions Verification and issuing “demise charter-in” and Survey and certification of STCW certification “demise charter-out” of large passenger yachts and endorsements Registration of mortgages and commercial yachts Investigations into Issuing of seafarers Auditing and inspections incidents and accidents documents relating to ISM, ISPS and MLC

www.bermudashipping.bm Benefits of Bermuda

PRESTIGE & PROTECTION between and actuaries, re/insurance International recognition and Europe, an ideal location for underwriters, brokers, protection under the British transactions to suit all time and support services with Red Ensign, allowing for zones a decades-long history of unlimited tonnage, type working together and age LEGAL & POLITICAL STABILITY LIFESTYLE A respected Westminster- QUALITY FLAG High standard of living, style parliamentary A registry placed high on excellent education and democracy and 400-year- the white list of the Paris and healthcare, temperate climate old courts system, based Tokyo MOUs and recognised and sub-tropical physical on English common law and under the United States beauty, including world- offering comprehensive Coast Guard QUALSHIP famous beaches, golf-courses maritime legislation, with 21 programme and coral reefs recourse to the UK Privy Council TIME-EFFICIENT REPUTATION Streamlined, cost- TAX-EFFICIENT Bermuda is respected effective service and 24- A tax-neutral jurisdiction with worldwide as a leader on tax- hour turnaround for ship zero income, capital gains or transparency matters, with registration if certification corporate taxes 91 treaty partners around pre-approved and all the world. These include documentation provided. ACCESS TO RE/INSURANCE 41 bilateral TIEA signatories Services can be extended More than half the world’s (among them, the US, UK, from the London office for merchant shipping tonnage is , Mexico, Sweden, pre-approved vessels insured through International Denmark and Norway) and Group Protection and 87 multi-lateral TIEA partners GLOBAL SURVEY & Indemnity Clubs (P&I) (including Greece, Russia, CERTIFICATION and Spain) via Highly-qualified, Bermuda- established in Bermuda the Convention on Mutual based marine surveyors and Administrative Assistance in auditors, as well as Bermuda INFRASTRUCTURE Tax Matters surveyors operating from Secure, modern physical London and Bermuda- and technological appointed surveyors located infrastructure, including at strategic ports around excellent, secure the world can register ships telecommunications, Bermuda’s fleet around the clock globally broadband and a fully consists of large electronic Bermuda cruise ships, oil, gas LOCATION AND ACCESS Stock Exchange A self-governing British and chemical tankers, Overseas Territory, 650 miles WORLD-CLASS EXPERTISE container ships, bulk (1,000 km) east-southeast Home to leading (Big Four) carriers, offshore of Cape Hatteras, NC, accounting firms, auditors, with daily direct flights to financial advisers, banks, vessels, cruising gateway cities. Positioned lawyers, IT specialists, and mega-yachts Cruise ship surveys & registration About the BDA With a broad range of Continuously manned 24-hour The BDA encourages direct experience of passenger ship emergency response contact investment and helps companies surveys and registration, Network of Bermuda surveyors start up, re-locate or expand Bermuda is experienced in the based in Bermuda, UK, US, their operations in our premier operation and construction Singapore and Hong Kong— jurisdiction. An independent, of Safe Return to Port ships no large networks of affiliated public-private partnership, we connect you to industry and has been the flag state for surveyors with the potential professionals, regulatory officials, numerous new-build projects. for variable standards and key contacts in the Bermuda The Bermuda Shipping & Direct access to knowledgeable government to assist domicile Maritime Authority (BSMA) and reasonable staff. Rapid decisions. Our goal? To make surveyor staff comprises response to technical queries, doing business here smooth ships masters, chief engineers exemption requests, plan and beneficial. and naval architects. Other approvals (during build and Bermuda advantages for cruise in service, muster lists, ship registration include: Alternative Design Connecting Business Arrangements, fire-control We offer a Business Concierge Competitive fees plans, etc) Service to partner with companies Retention of annual passenger Agreement with China to seeking to establish operations ship surveys as well as ISM, extend UK tonnage tax in the jurisdiction. Our team is a ISPS and MLC audits—ensuring agreement to Bermuda- single point of contact to connect consistency, high standards registered ships, allowing for clients with industry, government, and continued safety reduced fees when visiting regulatory officials, and services Assistance with USCG ICOC Chinese ports such as realtors, law firms, auditors inspections Bermuda legislation allows and relocation experts. Our White-list flag state, USCG ship captains to perform Concierge Service is also available to established Bermuda companies. QUALSHIP-Approved weddings at sea

Considering Bermuda as your base for business? Contact us to arrange an initial consultation so we can begin to get things moving for you.

Maxwell Roberts Building, 6th Floor + 1 441 292 0632 1 Church Street [email protected] Hamilton HM 11 Bermuda www.bda.bm