A yacht may be eligible for commercial registration provided it is at least 24m in Load Line length and commercially classed with a Classification Society recognised by the Isle of Man. Yachts must also comply with the Large Yacht Code LY3.
All yachts are subject to a pre-registration survey by an Isle of Man Surveyor prior to registration during which compliance with LY3 and with other applicable international Conventions is confirmed.
In addition, the registered owner must be a 'Qualified Owner', with a Representative Person present in the Isle of Man.
Commercial yachts are automatically entered into the Commercial Yachts Fees Scheme as follows:
- Yachts <500GT: on completion of the initial MLC inspection
- Yachts ≥500GT: after completion of the initial ISM, ISPS and MLC audits.
All yachts will be subject to survey and to applicable audits/inspections by an Isle of Man surveyor twice in every five year period with no more than 36 months between visits.
The latest version of the Yachtmaster's Handbook is available for download here.