The Ministry of Fisheries and Ocean Resources has determined that three categories of vessels will be registered as bareboats for a maximum of five-year period from next year.
The ministry made the statement following two amendments to the bareboat registration regulations, the 17th amendment to the Export-Import Act and the third amendment to the local vessel registration regulations that came into force on December 28 to address concerns about the suspension of bareboat registration after December 31.
Following the changes to the regulations, the ministry stated that after December 31, vessels registered abroad that are used in government projects and high-end luxury category vessels will be registered as bareboats. Vessels longer than 13.7 meters that are registered as pleasure craft abroad will also be registered as bareboats in the Maldives.
The ministry stated that if the vessel is a luxury vessel registered abroad, the owner should have a class certificate issued to indicate that the vessel was built and classified by a member of the International Association of Classification Societies. The ministry will register vessels longer than 13.7 meters that are registered as pleasure craft abroad if the owner has a certificate of examination from a classification society approved by the European Union (EU) or the International Association of Classification Societies.
Additionally, the ministry stated that vessels registered in another country that are used in government projects will be registered as bareboats if a copy of the document issued for the import of zero-rated goods is submitted to the ministry. Each of these three categories of vessels will be registered as bareboats in the Maldives for a maximum of five years.