The registration of ship's flag has always been a contemporary issue for ship-owners and ship management companies who seek to find the best solution for their fleet. Ship flag registration in Latvia is one of the best available solutions for ship flag registration around the globe. First of all, Latvia is an European Union member state, therefore ship flag registration in Latvia will ensure the company with an EU flag for their vessels. The Latvian ship flag is generally considered to be a respectable flag and there are no limitations to trade with Latvian flagged ship around the globe. Secondly, Latvian tonnage tax regime provides a competitive tax regime which one of the best tonnage tax regimes around the globe.
The registration of ship's flag has always been a contemporary issue for ship-owners and ship management companies who seek to find the best solution for their fleet.
Ship flag registration in Latvia is one of the best available solutions for ship flag registration around the globe. First of all, Latvia is an European Union member state, therefore ship flag registration in Latvia will ensure the company with an EU flag for their vessels. The Latvian ship flag is generally considered to be a respectable flag and there are no limitations to trade with Latvian flagged ship around the globe.
Secondly, Latvian tonnage tax regime provides a competitive tax regime which one of the best tonnage tax regimes around the globe.
Tonnage tax rates for Latvian flagged vessels:
- 1) 0.0022 - to the tonnage of up to 1000 tonnage units;
- 2) 0.0019 - to the tonnage from 1001 to 10 000 tonnage units for the tonnage exceeding 1000 tonnage units;
- 3) 0.0016 - to the tonnage from 10 001 to 25 000 tonnage units for the tonnage exceeding 10,000 tonnage units;
- 4) 0.0007 - to the tonnage over 25 000 tonnage units for the tonnage exceeding 25 000 tonnage units.
The Latvian tonnage tax rate is calculated based on the tonnage of the vessel multiplied by the tonnage tax rate and finally multiplied by the number of days the vessel has carried out commercial activities.
EU LAW FIRM maritime lawyers in Latvia will be happy to advise you on the possibilities to register a vessel under a Latvian flag.
It is notable to mention that, state vessel inspections can be carried out all around the globe in any port as per necessity, and for ships not older than 2 years no inspection is required.
To find out additional information regarding ship flag registration in Latvia, do not hesitate to contact EU LAW FIRM maritime lawyers in Latvia - info@eulawfirm.eu +37126742086.
