SUPERYACHT SERVICES

SHIP REGISTRATION SERVICES IN MADEIRA

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Madeira Management Companhia Limitada obtained the first Madeira management licence in 1989 and is Madeira's leading management company. Our team of forty legal and accounting professionals, led by Dr António Rui Ponte Marques, specialises in making the Madeira International Business Centre ("MIBC") accessible to shipping companies, businesses and their professional advisers. Our shipping department is managed by Dra. Súzel Camacho, a Portuguese advocate, who specialises in matters relating to shipping.

Some of the advantages of registering your ship in Madeira include:

• No tax on crew salaries
• Only the Captain and 50% of the crew must be EU or PALOP (Portuguese Language African Countries) nationals. In special and justified cases this requirement may be waived.
• The crew and their employers are not obliged to pay Portuguese Social Security contributions provided that contributions are being made in another country

Madeira Ship Registration

The International Shipping Register of Madeira ("MAR") is a credible alternative to other international registers and yet keeps the technical discipline and safety, which characterises conventional shipping registers.

Under the MIBC Legislation vessels and yachts may be registered at MAR under the Portuguese flag provided their activities do not amount to transportation of goods between Portuguese ports. Transportation between Portuguese ports and foreign ports is allowed.

Registration

Certain documents and information regarding the ship should be submitted to the Technical Commission of MAR for analysis and this will vary depending on whether it is a temporary or a permanent registration.

Classification

The shipping registry delegates some of its functions and recognises certificates issued by specified classification societies. Among the functions that may be delegated are the supervision and enforcement of rules concerning stability, bulk cargo, on board security as well as the issuing of international certificates concerning conventions and resolutions of the International Maritime Organisation and the OLO.

Portugal presently recognises eight classification societies who are certified to carry out their functions in the framework of MAR, they are:

• Lloyd's Register of Shipping (LRS);
• Bureau Veritas (BV);
• Det Norske Veritas (DNV);
• Registro Italiano Navale (RINA);
• American Bureau of Shipping (ABS);
• Rinave Portuguesa (RINAVE);
• Nippon Kaiji Kyokai (NKK).

Mortgage Law

The mortgagor and the mortgagee by written agreement may choose the legal system of a particular country that shall govern the terms of the mortgage. Should such agreement not be reached, the Portuguese law shall apply.

Who to Contact

If you are interested in more information regarding the registration of your ship in Madeira, please contact Dra. Súzel Camacho, who is a director of Madeira Management Companhia Limitada: