SuperyachtNews – 10 January 2018

The scheme enables Cayman-flagged private yachts to charter for a limited time per year in France…

The Cayman Islands Shipping Registry (CISR) has announced the procedure that is to be followed by a pleasure yacht registered in the Cayman Islands in order to obtain Yacht Engaged in Trade (YET) certification. The certification enables yachts over 24m to charter up to 84 days per calendar year in European waters, currently limited to France and Monaco.

The programme, which has been in operation since December 2017, follows in the footsteps of the Republic of the Marshall Islands Yacht Registry (RMI), which implemented the YET initiative in late 2015. Many in the industry had initial reservations about the legitimacy of the scheme and questioned whether it would work in practice, but these concerns appear to have been dissolved.

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