Interlegal strengthens the practice of vessel registration under Moldova flag

For the first half of year 2014 three companies – ship owners, with the assistance of Interlegal, registered their vessels under the flag of the Republic of Moldova.

Vessels belonging to legal entities or natural persons, both residents and non-residents of the Republic of Moldova, may be registered in the ship register of Moldova. Amongst the advantages of the Moldavian flag are the quick procedure and lower cost of registration as compared to other jurisdictions (ship owner’s expenses include only payment of state duty for vessel registration, fees for radio license and services of local representative, the nomination of which is obligatory for non-residential shipowners). Owners of ships registered in Moldova shall be released from payment of taxes and customs duties.

Moldova recognizes 10 of 12 classification societies - IACS members. 18 more classification societies are entitled to arrange ships surveys for compliance thereof with regulations of international conventions, as well as to issue the corresponding certificates.