Singapore ship registration
Strategically-located Singapore is one of the world’s leading shipping hubs, supported by a wide range of related services. Healy Consultants assists our Clients with ship registration in Singapore.
Information on ship registration
- Singapore ship licensing requires vessels to be owned by a Singaporean citizen or by a company incorporated in Singapore;
- Singapore is renowned for the quality of its ship registry. Singapore is a signatory to International Maritime Organisation (IMO) conventions, meaning registering a ship in Singapore is a reputable option for vessel owners;
- The Port of Singapore is one of the world’s busiest. Because it is a globally-recognised shipping centre, ship licensing in Singapore is a popular solution for many vessel owners. There are currently over 3000 vessels registered in Singapore;
- Singapore ship registration typically evolves as follows: i) Healy Consultants reserves the vessel name ii) Healy Consultants submits to the government the documents related to registration in Singapore and iii) Healy Consultants pays the initial registration fee and annual tonnage tax on behalf of our Client to complete registration;
- Tax is levied according to the vessel’s tonnage. The fee is S$2.50 per Net Ton (NT) to the nearest ton subject to a minimum of S$1,250 (500 NT) and a maximum of S$50,000 (20,000 NT);
- Profits derived from the operation of the vessel are legitimately exempt from Singapore tax provided certain conditions are met;
- Once a ship is registered in Singapore, it is subject to an annual tonnage tax of S$0.2 per Net Ton (NT) to the nearest ton subject to a minimum of S$100 (500 NT) and a maximum of S$10,000 (50,000 NT);
- Registration will be complete between one to two weeks, depending on vessel type and ownership structure.
Our services for ship registration in Singapore
Ship registration in Singapore can be challenging because of the information required by the Singapore Registry of Ships. However, Healy Consultants minimises the inconvenience to vessel owners during the process of registration. Some of our services related to ship registration in Singapore include:
- Registration of pleasure vessels;
- Registration of commercial ships;
- Obtaining approval for ship’s name, official number and call sign number/signal letters;
- Appointment of an agent and manager;
- Obtaining corporate ownership;
- Obtaining statutory management.