Cyprus-based Totalserve Management Ltd was recently appointed as the sole representatives of the BVI Shipping Flag in Europe, Africa, the Middle East, Russia and the Ukraine.
The agreement was the result of arduous and diligent negotiations at the highest level between Totalserve, the BVI Premier, Honourable Ralph T. O’Nealand the BVI Shipping authorities.
Totalserve Chairman, Peter G. Economides, commented that he was thrilled their efforts bore fruit. “I am excited the BVI authorities have entrusted us with their shipping flag. We have been selling, administrating and representing BVI companies for many years now and has maintained a fully-fledged office there since 2004,” he said.
The Totalserve Chairman added: “This elevates our involvement in the BVI and our business interests there to a whole new level.”
Directorof the Virgin Islands’ Shipping Registry (VISR), Capt. Baboucar Sallah pointed out that “choosing Totalserve to represent our flag was a clear choice. Totalserve is a reputable international company with offices in many parts of the world. Our mutual cooperation has, so far, been impeccable.”
The VISR Director expressed his full support to Totalserve adding that he was confident they would represent the VISR with zeal, probity and professionalism.
“Together we can promote the benefits and advantages of BVI Ship Registration to the world,” he said.
The British Virgin Islands operate as a Category One Red Ensign (British) Registry, which includes the ability to register all types of Yachts, including Super Yachts, of up to 3000 gross tons and General Cargo ships of unlimited tonnage.
The VISR was promoted to Category One ship registry status within the Red Ensign Group of British shipping registries in 2008.
Among other benefits, the VISR enjoys a low initial registration and annual maintenance fees while BVI flag-bearing vessels are entitled to British Diplomatic and Consular support and the protection of the Royal Navy.
Totalserve is now in a position to offer on behalf of the BVI authorities such shipping services as ship and yacht registrations, transfer and ownership recordings, transfer of ownership, name changes and change of port. Also, physical searches and inspection of registry, inspections and survey certifications and more.
Moreover, the BVI was recently included on the OECD’s White Listof countries that have substantially implemented the internationally agreed tax standards, further reinforcing the attractiveness of the island’s corporate and shipping services.