Section 4Part 2 — REGISTRATION OF SHIPS
Qualifications for owning a Cayman Islands ship
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4. (1) For the purposes of this Act, the following are persons qualified to be owners of Cayman Islands ships —
British citizens;
British Overseas Territories and Crown Dependencies citizens;
British Overseas citizens;
British subjects;
persons who, under the Hong Kong (British Nationality) Order 1986, are British Nationals (Overseas);
Cayman Islands citizens;
persons, other than those referred to in paragraphs (a) to (f), who are nationals or citizens of a Member State of the European Union, European Economic Area or an approved country, including the overseas countries, territories or dependencies of such Member State or country;
bodies corporate, shipping entities or foreign companies incorporated, established or registered in —
the United Kingdom or any of its Overseas Territories or Crown Dependencies; including any overseas country, territory or dependency of such a Member State; or of such an approved country; and
a Member State of the European Union or European Economic Area,
an approved country or any overseas country, territory or dependency
foreign companies as defined in section 183 of the Companies Act (2023 Revision) carrying on business within the Islands which comply with all the requirements of foreign companies under that Act. Merchant Shipping Act, 2024 Section 5 c Act 1 of 2024 Page 23
A person who is not qualified under subsection (1) to be an owner of a Cayman Islands ship may, nevertheless, be one of the owners of such a ship if —
a majority interest in the ship, within the meaning of section 5, is owned by persons who are qualified to be owners of Cayman Islands ships; and
the ship is registered in accordance with that section.
In this section — “approved country” means —–
a country included in the jurisdictions that are designated as having measures for combating money laundering and the financing of terrorism which are equivalent to that of the Islands in accordance with section 5(2)(a) of the Proceeds of Crime Act (2024 Revision) as amended from time to time; or
a country whose citizens are persons qualified to own a ship registered in the United Kingdom; “shipping entity” includes —
a “partnership” and a “limited partnership” as defined in the Partnership Act (2024 Revision) and an “exempted limited partnership” as defined in the Exempted Limited Partnership Act (2021 Revision); and
any other entity similar to those referred to in paragraph (a), established in any state or country referred to in subsection (1)(h) and whether or not the instrument of its creation and existence, expressly or by operation of law, confers or recognises its capacity under the law to sue and be sued in its own name or in the name of its lawful fiduciary or legal representative.