KNOWLEDGE BASE

YACHT & SHIP OWNERSHIP

Madeira Ship Registration

Overview Registration Classification

OVERVIEW

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, specialise 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.

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.

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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.

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CONTACT A CONSULTANT

Purchasing a yacht is a major acquisition which requires careful planning and consideration. As a dedicated division of OCRA Worldwide, OCRA Marine is positioned to assist at every level. We invite you to contact the consultant listed below for a Free Initial Consultation.

Our professional services go beyond yacht registration and include ownership structuring that provides for beneficial VAT planning and tax mitigation (and/or deferral). We are also able to arrange for yacht finance and vessel insurance, and will take care of any project management requirements in addition to the day-to-day maintenance and management of the vessel. In short, we take care of all aspects of yacht ownership providing owners with a single and dedicated point of contact for the ongoing management of their vessel.

If you would prefer to make contact with a consultant at one of our offices who speaks your language, click here for a full list of our office contact details, otherwise follow the details below to make contact.

Alternatively, click on the link below to complete and submit our yacht questionnaire:
Yacht Questionnaire

Madeira Management Cia Lda
PO Box 7
Rua dos Murcas 98
9000-58 Funchal
Madeira, Portugal
Tel: 
Fax: 
Email: 
+351 291 201 700
+351 291 227 144
madeira.management@mmcl.pt

Languages spoken in this office: English, Portuguese, Spanish and French

REQUEST A CALLBACK

Dra. Elita Correia Amaral, Legal Counsel
MADEIRA OFFICE
Tel: 
Fax: 
+351 291 201 700
+351 291 227 144
Email: madeira.management@mmcl.pt
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Disclaimer: Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal or other
professional advice. OCRA Worldwide does not accept any responsibility, legal or otherwise, for any errors or omission.