Advantages of Registering a Vessel with MAR
Posted: Wed Feb 19, 2025 8:50 am
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.
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.