A ship entitled to fly the flag of a country needs to be registered in that country. The object of registration is to ensure that persons who are entitled to the privilege and protection of the Indian flag get them. The registration affords evidence of title off the ship to those who deal with the property in question. It also gives protection to the members of the crew in case of casualties involving injuries and/or loss of life to claim compensation under the provisions of the Indian Acts in Indian courts.
Key Features of India Ship Registration
- Applicant must be a citizen of India.
- A company incorporated in India and controlled by citizens of India.
- Ships owned by a co-operative society which is registered or deemed to be registered under the Co- operative Society Act, 1912, or any other law relating to Co-operative Societies for the time being in force in any state.
- Not more than 10 individuals are entitled to be registered as a owner of a fractional part of a share in a ship, but a maximum of 5 persons could be registered as joint owners of a ship or of any share and shares therein.
Distinctive Advantages of India Ship Registration
- Easy transfer of Registration
- Income tax advantages
- No minimum Tonnage
Why Valsen Fiduciaries
- Speedy and Efficient Service
- Expert advice on structuring options
- Dedicated ongoing compliance support
- Clientele Priority
- Offers the best value of any country/jurisdiction in the World