Prerequisites for registering your vessel in Singapore
Before ships can be registered in Singapore, they need to satisfy the following prerequisites.
The ship owner
- Only the following may be registered as owners of Singapore vessels:
- Singapore citizens or Singapore permanent residents.
- Companies incorporated in Singapore – foreign or locally owned:
- A foreign-owned company is defined as a company incorporated in Singapore and has more than 50% of its equity owned by non-Singapore citizens.
- A locally owned company is defined as a company incorporated in Singapore and has more than 50% of its equity owned by Singapore citizens or another locally owned company.
- If owned by a foreign-owned company, the vessel may be registered in Singapore under the following conditions:
- The company must have a minimum paid-up capital of S$50,000.
- The vessel must be at least 1,600 GT and be self-propelled.
- Notwithstanding the minimum paid-up capital requirements, the Registrar may in his discretion, waive them provided that the company and/or its related corporation(s) have registered, applied to register, or have informed the Registrar that they will apply to register, ships fulfilling the tonnage criteria of the Block Transfer Scheme.
- An exemption from the gross tonnage requirement may be granted by the Registrar in his absolute discretion on a case-by-case basis, if the vessel is operated from or based in Singapore. Owners must apply to the Registrar for this exemption.
- If owned by a local-owned company, the vessel may be registered in Singapore if the company satisfies the minimum paid-up capital requirement.
- For tug- and barge-owning local companies and their holding companies, the paid-up capital will be pegged to 10% of the value of the first tug or barge registered or S$50,000, whichever is the lesser, subject to a minimum of S$10,000.
The vessel
- Generally, ships less than 17 years will be considered for registration. The age here takes reference from the Year of Keel Laid of the ship.
