Upon the sale of a yacht registered under the Cyprus flag, and given that the new owner wishes to maintain the existing flag, certain documents need to be submitted with the Cyprus Ship Registry in order to effect the transfer of ownership.
The Seller (corporate person) needs to provide:
- A duly signed resolution of the directors of the Seller authorising the sale of the yacht and relevant power of attorney;
- The Cyprus Certificate of Registry in the name of the Seller;
- Bill of Sale
- Payment of any outstanding fees to the Registry.
The Purchaser (corporate person) should submit:
- Memorandum and Articles of Association with regards to the Purchaser and the corporate certificates of the Purchaser;
- A duly signed resolution of the directors of the Purchaser authorising the purchase of the yacht and relevant power of attorney;
- Declaration of ownership in the prescribed form;
- Registration Form of SAR Particulars (M.S.45) (where applicable);
- Registration Form of a Mobile Maritime Radio Station (M.S. 34);
- Confirmation of Radio Traffic Accounting Authority (where applicable);
The Parties should also submit a copy of the Protocol of Delivery and Acceptance.
All documents must be duly signed and delivered in copy/ original /notarized as may be required.
Additional requirements will apply in the event where the Purchaser wishes to change the name of the vessel.
The above are only general guidelines and each case will need to be considered and reviewed on its own merits.