Latvian Ship Register can register the following ships:
- Cargo vessels, passenger vessels, recreational craft (carrying less than 12 passengers), specific vessels (tugboats, icebreakers, pilots, rescue vessels, cable vessels, training and research vessels, dredgers, barges, auxiliary vessels, floating cranes etc.) and state service vessels (border guard, environment protection, rescue) if the vessel on the day of registration is not older than 23 years. This restriction is not applicable to vessels used only in cabotage in Latvia, passenger vessels routing between Baltic Sea ports and state service vessels,
- Ships under construction,
- Recreational craft – sailing yachts of maximum length over 2.5 meters, motoryachts of maximum length 12 meters and over, and motoryachts of maximum length less than 12 meters if they are used for commercial purposes (passenger transportation etc.),
- Fishing vessels and fishing boats used for industrial fishing in territorial waters and economic zone waters.
Floating constructions (floating docks, floating workrooms, floating fuel filling stations, floating houses, cargo pontoons) shall be registered at the Ship Register, and they must comply with the requirements of Latvian legal acts applicable to ships. Registration of floating constructions made for specific works at sea, but not mentioned above, is not mandatory. These floating constructions, if the water displacement without cargo is more than 10 tons, can be registered at Latvian Ship Register basing on application of the owner, if they are completely located in the territory of Latvia. The only aim of this registration is to protect rights in relation to the floating constructions.
The vessel may only be registered in Latvian Ship Register if:
- It is 100% owned by Latvian citizen or person having permanent residence permit or legal entity established and registered in Latvia or any combination of these and , is operated by ISM certified technical manager having valid Document of Compliance for the type of the vessel (DOC Company) established in Latvia or another EU country ;
- It is owned by foreigner or foreign legal entity from EU and is operated by DOC Company; established in EU (only authorized person must be from Latvia)
- It is owned by foreigner or foreign legal entity outside EU and is operated by DOC Company; established in Latvia Person/legal entity qualified to be owner of Latvian ship can register ownership in LSR and receive the Certificate of Ownership
Advantages of Latvia Ship Registration
- Latvia – proud to be world top 25 business economy
- Maritime country with strong traditions
- Reduce your operating costs with competitive income tax & social security policy
- No nationality limitations for your crew
- Green shipping
- No restrictions for foreign company owners
- Easy to register a mortgage
- Sail with confidence
- Over 13000 active national seafarers
- Support 24/7
The Valsen Advantage
- Speedy, Efficient and consistent Services.
- Relentless effort to obtain bank accounts.
- Expert advice on structuring options.
- Dedicated ongoing compliance support.