Owners of a Bermuda flagged ship or yacht who are not resident in Bermuda, or do not otherwise have their principal place of business in the jurisdiction, are required to appoint a local Principal Representative in Bermuda in connection with the vessel. Conyers is able to provide Principal Representative services in connection with any Bermuda ship or yacht owned by a non-resident owner.
Requirement for Principal Representative
In order for a ship or yacht to be registered in Bermuda, it must be at least majority-owned by a person qualified to do so under the Merchant Shipping Act 2002, as amended by the Merchant Shipping Amendment Act 2004 (the "Shipping Act").
In Bermuda, international ship owners are eligible to register vessels owned by companies incorporated in the UK, any British territory and most European countries, as well as the following jurisdictions:
- China PR
- Hong Kong
- Marshall Islands
- New Zealand
- South Africa
- South Korea
- United Arab Emirates
- United States of America
Where a Bermuda registered ship is owned by a majority interest that is not resident in Bermuda, the Shipping Act requires a 'representative person' (generally known as a Principal Representative) to be appointed before applying for registration. The appointment of a Principal Representative must be maintained for as long as the ship is registered on the Bermuda Register.
Who can be a Principal Representative?
A principal representative is required to be a resident of Bermuda, or a company incorporated in Bermuda with its principal place of business on the island.
Provision of Principal Representative Services
Conyers Corporate Services is able to act as Principal Representative in respect of Bermuda Registered vessels. For the purposes of the Shipping Act, an owner can appoint Conyers Corporate Services to act as Principal Representative on their behalf in respect of the vessel. November
About Conyers Corporate Services
Conyers Corporate Services is an affiliate of global law firm Conyers Dill & Pearman, with expertise in providing directorship, corporate administration, company secretarial, regulatory, governance and company management services. Operations involve key onshore and offshore locations around the world in order to provide our clients with optimum global advice and service.
Originally Published by Conyers, November 2020
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.