BVI TO MARKET CATEGORY ONE STATUS AT FT.LAUDERDALE BOAT SHOW
Tuesday October 28, 2008
Efforts to market the Territory as a Category One Shipping Register intensify this week as a BVI delegation attends the 2008 Fort Lauderdale International Boat Show in Florida.
This delegation will include officials from the International Finance Centre (IFC), the Virgin Islands Shipping Registry (VISR), Her Majesty’s Customs and the BVI Tourist Board which will promote the Territory as a premier yachting and cruising destination.
The October 30 to November 3 show 2008 is dubbed the world’s largest boat show bringing together all of the major players in the industry and therefore presents an excellent opportunity for the BVI to market its new status.
Premier Honourable Ralph T. O’Neal, OBE noted recently that it was a challenge to attain Category One status but an even bigger challenge now to market it and attract new ships.
Honourable O’Neal stated that “like the financial services industry that is contributing a major part of our revenue, it is going to take some money over a few years to get it well established but once it is well established, I believe it will be another major contributor to the local economy.” The Premier is confident that there will be “positive growth in the shipping registry.”
Director of the Virgin Islands Shipping Registry Captain Baboucar Sallah said the Fort Lauderdale event is an opportune time to announce the Territory’s Category One status, which allows the BVI to register yachts of up to 3000 and cargo ships of unlimited tonnage.
“The BVI already has a world class reputation in the yachting and associated industries. I am looking forward to taking this to a new level and putting the BVI firmly on the map as the best place in the world to register a large ship or yacht,” Captain Sallah said.
He went on to outline several advantages to registering ships in the BVI including the low initial registration and annual maintenance fees for registering ships in the Territory, the ready availability of corporate, legal and other services through a reliable network of offices and industry experts, the robust regulatory environment which exists here and the BVI’s recognition as a reputable financial centre, leading the world in company formation and related corporate services.
IFC’s Chief Operating Officer Sherri Ortiz said the “Category One shipping registry status allows registered mega and super-yacht owners full access to the BVI’s corporate, legal and telecommunications services.”
She noted too that the Fort Lauderdale event is one which must be capitalised upon as the BVI seeks to attract the mega yachts of the world. “We look forward to welcoming Fort Lauderdale attendees to our stand to discuss the BVI’s service offerings in more detail,” Miss Ortiz said.
Her Majesty’s Customs is also being represented at the boat show to introduce and promote its eSeaClear, which is a web-based pre-arrival notification system for registration. The system permits an expedited on-line pre-notification process for small craft/vessels, and will directly benefit yachting passengers who can now enter the BVI by means of an electronic cruising application.
The BVI’s participation in the Fort Lauderdale International Boat Show is in keeping with efforts to market the Territory as a premier yachting and financial services destination.