ROAD TOWN, British Virgin Islands, Wednesday, 8th July, 2026. BVI-flagged superyachts now have a formal path to combine private use with limited commercial chartering in Greek, Monaco and French waters. The certification comes under a newly published Virgin Islands Shipping and Maritime Authority (VISMA) program covering yachts 24 meters and over.
As VISMA continues to provide responsive, client-focused registry services for vessels flying the Virgin Islands flag, its expansion into the Yacht Engaged in Trade (YET) program extends that same standard to owners seeking added flexibility in Europe.
“This gives BVI-flagged yachts operating in Europe the opportunity to charter for part of the year while keeping their private registration for the rest,” said Georgios Bazos, VISMA’s Business Development Manager. “It’s a natural next step for the registry, and one more option for owners who want flexibility without added complexity.”
For owners, that means a yacht keeps its Pleasure Certificate of British Registry and takes on a temporary Yacht Engaged in Trade certificate only for the length of each charter, up to 84 days a year. Once the charter ends, the pleasure certificate is reinstated. There is no conversion to full commercial registration, and no separate registration process to repeat every time the yacht’s use changes.
It also means owners are no longer required to exit European Union waters to complete new import or export formalities when switching between private and chartered use. Under the circular, a yacht may operate on either basis during the 18-month Temporary Admission period without further customs formalities, provided the requisite conditions are met. Yachts with VAT-paid status or in Free Circulation are not subject to that 18-month limit at all.
The program is built for yachts already run to a commercial standard. To qualify, a yacht must be at least 24 meters in load line length, hold class certification, and comply with the Red Ensign Group Yacht Code, the Maritime Labour Convention, the International Safety Management Code and the International Ship and Port Facility Security Code, whether or not it is actively chartering. VISMA verifies compliance through a survey before issuing a Yacht Engaged in Trade Certificate of Compliance, which a yacht must hold going into every charter period. Sustaining that standard year-round is the same rigor VISMA already applies across its registry.
Charters are capped at 84 days a year with no more than 12 passengers aboard. For non-VAT paid yachts, charters can currently only begin in Monaco, French or Greek waters. Owners give up private use of the yacht for the length of each charter, and the yacht is subject to Port State Control inspection under the Paris Memorandum of Understanding while operating under YET. VISMA set out the full guidance for the program in Marine Circular 01/2026, issued May 26, 2026. The complete circular is available on VISMA's website. (https://bvimaritime.vg/MORE-INFORMATION/News/ArticleID/35/VISMA-Gives-BVI-Flagged-Superyachts-an-84-Day-Charter-Window-in-Europe)
About VISMA
The Virgin Islands Shipping and Maritime Authority (VISMA) is the official ship registry and maritime administration of the British Virgin Islands and a member of the British Red Ensign Group. As a Category 1 registry, VISMA offers full flag state services for all vessel types, including yachts, merchant ships and commercial vessels, along with vessel surveys, ISM certification, mortgage registration and seafarer certification in compliance with STCW and IMO standards. Vessels registered with VISMA, trade globally under the Virgin Islands Red Ensign. VISMA is known for responsive administration and direct access to senior decision-makers.
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