The BVI is committed at all levels to the development of our maritime industry in full compliance with international standards. Today, about 4000 internationally owned ships are registered by the VISR under the BVI Merchant Shipping Act 2001 and those numbers continue to rise. A ship is registered to establish nationality; to secure ownership title, and to enable its use as security to obtain a ship’s mortgage, which in turn, is registered.
The BVI has the distinct advantage of being a Category 1 Red Ensign jurisdiction which classifies the BVI as 1 of 10 centres worldwide where meta-yachts and super yachts of up to 3000 gross tonnage, and cargo ships of unlimited tonnage can be registered.