Advantages of Registering a Vessel with MAR

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The key advantages of ship registration in MAR are detailed below:

Shipping companies licenced to operate within MAR benefit from a corporate income tax rate of 5% until 2027. They also enjoy automatic VAT registration and have access to the Portuguese double taxation treaty network.
The Register is of a high standard, has EU credibility and full access to EU cabotage.
It is not regarded by the International Transport Workers’ Federation as a flag of convenience.
There are no nationality requirements for ship owners of vessels registered in MAR and they are not required to have their head office in Madeira; it is sufficient to have local legal representation with adequate powers. Dixcart in Madeira can iran mobile database provide this service.
The existence of a flexible mortgage system allows the mortgagor and the mortgagee, by written agreement, to choose the legal system of a particular country that will govern the terms of the mortgage.
Registration fees are competitive and there are no annual tonnage taxes.
Generally, the captain and 50% of the crew of the ship must be “European”. This includes nationalities such as Polish, Russian and Ukrainian, as well as citizens of Portuguese-speaking countries, which allows for flexible manning.
Crew wages are exempt from income tax and social security charges in Portugal.
Temporary registration is allowed by law (bareboat charter: “In” and “Out”).
Eight International Classification Societies are recognised in Portugal. MAR can delegate some of its functions to these societies. This can be simpler and more convenient for ship owners.