It is expected that an announcement will soon be made that will officially signal BVIs upgrade to unrestricted Category I status allowing the BVI registry to register vessels of unlimited tonnage and type. Walkers will provide further details of this and other related developments in due course. Bermuda, Cayman Islands, Gibraltar, Isle of Man and the UK are the other registries in the Red Ensign Group that have similar unrestricted Category I status.
Back in 2007, BVI announced with much pride that the BVI Shipping Registry, then a Category II registry, was officially upgraded to Category I status following a thorough 3-year preparatory programme. The new status permitted BVI to register general cargo vessels of unlimited tonnage and yachts of up to 3000 gross tons (which covered most pleasure and commercial yachts presently being built, including mega yachts).
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