The British Virgin Islands Shipping Registry is now a full Category 1 Registry allowing the BVI Shipping Registry to register vessels of unlimited tonnage and type. Hitherto, though a category 1, the BVI register was restricted to 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). The lifting of the restrictions now puts BVI on par with other Category 1 registers such as Bermuda, Cayman Islands, Gibraltar, Isle of Man and the UK are the other registries in the Red Ensign Group that have similar unrestricted Category 1 status.
With the lifting of the restriction, the BVI Shipping Registry is now open to registering tankers and other high-tonnage specialty vessels.
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.