PLACE OF REGISTRATION
Every recreational craft has a legal obligation to be registered in an internationally recognised jurisdiction to ensure the proof of nationality and ownership. Registration gives to recreational craft the right to navigate under the flag of a state or in other words – determines the nationality of recreational craft.
Selection of the state or territory of your recreational craft registration is very important and isn`t an easy task. That isn`t an ordinary and everyday decision. You should think about the place of registration before the purchase is done
REGISTRATION UNDER LATVIAN FLAG
Since January 2013 Latvian legislation prescribes that there are no restrictions for foreign owners irrespective of nationality or company`s incorporation place to hold direct title for recreational craft under Latvian flag. In other words – you can be registered as an owner in Latvian ships register even if you have another state´s citizenship or your company´s incorporation place is abroad.
When the need arises you can delete recreational craft from Latvian ships register and register it under the flag of state where your company is incorporated, if there will arise such a necessity, without making any changes of ownership or establishing a new company whenever you need.