Bar – Rich Albanians more and more often register their yachts in neighboring countries, and mostly in Montenegro. As “Vijesti” found out only in the last two months at least 5 yachts whose owners are Albanian citizens have been registered on Montenegrin coast.
– It is expected that there will be even more of them, especially after the adoption of the Montenegrin law on yachts. Those several yachts have been registered on American state Delaware – claim the sources of “Vijesti” who are in the navigation business.
According to the same quotes, after the adoption of the new law on yachts it should be expected that not just Albanian, but that all other foreign navigators in larger numbers will decide to register their yachts and sailing boats but under the Montenegrin flag.
Director of the Management of the Maritime security, captain Krsto Rakocevic said that yachts from Albania of which we are talking about were not registered here, adding that “judging by everything” it is the inscription in registers of Delaware, or some of the other countries which have the so-called “flags of convenience”, such as Bahamas, or Saint Vincent.
The new law on yachts, whose adoption is expected, will enable foreign yachts to be registered under the Montenegrin flag, and to sign in in our register, because it will contain a lot of conveniences – stressed Rakocevic. In Montenegrin companies which deal with insurance of luxurious vessels they show that they are not familiar why the Albanians have decide make have such moves, but that they guess why according to their laws you cannot own a yacht.
– Such a restrictive attitude is in effect because of the smuggling of people in that part of the Adriatic. Moreover, it is known that the majority of renowned world navigation insurance companies do not want to pay up the insurance of yachts which cruise in the Albanian waters, judging by everything probably because of the same reason – said for “Vijesti” in one of those companies.
This topic has drawn attention on the dilemma of the navigators under which conditions and under which flag they should register their yachts. Those expenses are not firm, but they depend on the length, gross tonnage and the strength of the engine of the yacht, in some cases also from the year of the construction, expenses of check up and engaging of “domestic representative” in the state of the register, an administrative and other expenses of representation. Because of all of that the agents who are doing the registrations suggest to interested parties to collect before the definitive decision the offer of the suitable register, to study the conditions well, and not just the prices, and in that way avoid possible significant differences between the declared price and total expenses of the registration.
Small number of countries allows foreign citizens to register their yachts and other vessels under their flags. Milan Kalezic, the director of “Monship” from Bar, which among other things deals with the registration of yachts, shows that those states can be put in three groups: the members of the EU, the United Kingdom (Commonwealth) and other states with conveniences.
– The states of the EU which allow the registration under their flag are Malta, Cyprus, and Madera (Portugal), the members of the Commonwealth are Gibraltar, The Isle of Men, Bermudas, and Caiman Islands, and other states with conveniences are Panama, Saint Vincent and Grenadine, Marshal Islands, the state of USA Delaware, and Antilles in Netherlands. All of them give certain conveniences and privileges, but there are many differences in them too – explains Kalezic.
The specific condition of Malta and Cyprus is that the owners of the vessels who are not citizens of some of the EU countries, and who wish to register the yacht under their flag, have to, through the authorized lawyer agency, found and register a domestic navigation company – says the collocutor of “Vijesti” adding that that company would work under the supervision of the authorized lawyer agency.
Yacht then is entered in the company – the owner of the yachts becomes the company, and not a physical person, but he is a stockholder – the founder and the real owner.
Director of “Monship” says that the registrations of yachts under the flag of the United Kingdom have certain advantages – lower basic expenses and longer period of validness of registration, high prestige of the flag and significantly simpler managing of administration after the first registration.
– But, there we have strict criteria during the examination of the vessel for the entrance in the register, and additional fee during the entrance of the yacht in harbors and marinas o the countries of EU – says Kalezic, who from the category of other countries, which issue the flag with conveniences, cites Panama.
That country has a great number of vessels especially ships under its flag, and it accepts in the register only yachts longer than 20 meters or above 50 gross tones.
THE NEW LAW HARMONIZED WITH EU
– The new law on yachts will be a compilation of the existing regulations of Panama, Cyprus, and Malta. It will have more strict criteria for the control of the vessels – their technical regularity, then, let’s say in Delaware. When you register a yacht in Delaware, it is sufficient that the submitter of the application in the demand cites that his vessel is regular, and that is not being checked. The draft of the law has been harmonized with both IMO and the laws of EU – said for “Vijesti” one of the members of the team for the preparation of the law on yachts.