Malaysia International Ship Registry News : Hans Advisory & Trust

The MISR has been established to encourage individual and foreign shipping companies to register their ships in Malaysia without having to comply with the requirement of Malaysian majority share holder. Under the ship registry, FOREIGNERS are allowed to HOLD 100 per cent equity in line with the government's effort to encourage foreign investments in the country.

INTERNATIONAL Port of Registry

The International Ports of Registry in Malaysia is Labuan

Shipowner Eligibility

Vessels must be owned by Non-Malaysian or corporation that satisfies the following conditions:

  1. Incorporated in Malaysia;
  2. An office of the corporation is in Malaysia;
  3. The majority of the shareholding, including voting shares, of the corporation is held by Non-Malaysian citizens. Majority in this instance means 51% subject to such changes by the Minister.

Ship Manager Eligibility

The owner of a ship shall, before applying for a ship to be registered, appoint a ship manager whom shall be:

  1. A Malaysian citizen having his permanent residence in Malaysia; or
  2. A company incorporated in Malaysia and having its principal place of business in Malaysia

Vessel Age and Survey Requirements

No ship shall be registered under Malaysia International Ship Registry unless:

  1. Ship is fitted with mechanical means of propulsion
  2. Ship not less than 1,600 gross tonnage
  3. The age of the ship :-
    1. Not more than 15 years if it is tanker or a bulk carrier; or
    2. Not more than 20 years if it is of type other than a tanker or a bulk carrier.

http://www.marine.gov.my/BKI/MISR/MaklUmumBI.htm

http://www.bernama.com/maritime/printable.php?id=455247