ZRC INTERNATIONAL TRUST INC

A. Introduction

 

 

Federal Territory of Labuan has been declared as the port of Registry for MISR with effect from 17 August 2006. 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 shareholder.  The MISR would place Malaysia on the international maritime map.

 

Labuan IBFC’s strategic location enables investors to foster long-lasting business relationships with Asia’s emerging economies such as China and India. In addition, it lies in close proximity to major shipping routes and boasts excellent shipping support services and facilities. The Malaysian International Ship Registry (MISR), introduced to attract individual or foreign shipping companies to register their ships through Labuan IBFC thereby bypassing the requirements for a Malaysian majority shareholder, is expected to further enhance the jurisdiction’s shipping operations. Shipping operations include the transportation of passengers or cargo by sea or the letting or charter of ships on a voyage or time charter basis.

 

 

 

B. Malaysia International Ship Registry

 

The Malaysia International Ship Registry (MISR) is a body for the registering of international ships.  The MISR has been established to encourage individuals and foreign shipping companies to register their ships in Malaysia without having to comply with the requirements of a Malaysian majority shareholder.  The MISR would enable the placing of Malaysia on the international maritime map.

 

Under the MISR, foreigners are allowed to hold 100 per cent equity in line with the government's effort to encourage foreign investments in the country.  With the registration of international ships, it would help increase the ship registry’s capacity in handling the country's transportation trade.

 

C. Port of Registry

 

The port of registry for a Malaysian international ship is Labuan.

 

D. Ship Owner Eligibility 

 

The Registrar of Ships may register a ship as a Malaysian international ship, if it is owned by a corporation that satisfies the following requirements:

 

• Incorporated in Malaysia

• The office of the corporation is established in Malaysia; and

• The majority of the shareholding, including voting shares of the corporation are not held by Malaysian citizens.

 

 

E. Ship Manager Eligibility 

 

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

 

• A Malaysian citizen having his permanent residence in Malaysia; or

• A company incorporated in Malaysia and having its principal place of business in Malaysia

 

F. Vessel Age and Survey Requirements

 

No ship shall be registered under the MISR unless:

 

• it is fitted with mechanical means of propulsion

• it is not less than 1,600 gross tonnage; and

• the age of the ship is not more than 15 years if it is a tanker or a bulk carrier, or not more than 20 years if it is of a type other than a tanker or a bulk carrier.

 

Surveys are conducted by ship surveyors working under the direction of the Surveyor-General who may also authorise classification societies on his behalf.

 

G. Authorised Classification Society

 

The following are the recognised classification societies for the MISR:

 

• American Bureau of Shipping

• Bureau Veritas

• Det Norske Veritas

• Germanischer Lloyd

• Lloyd's Register of Shipping

• Nippon Kaiji Kyokai.

 

H. Application for Vessel Name

 

An application must be submitted in writing to the Registrar of Ships to receive approval of the vessel's name:

 

• Proposed name for a Malaysian vessel must be approved by the Registar of Ships. Owners should apply for the vessel's name at least 14 weeks in advance before the date at which the vessel is supposed to be registered.

• Three (3) names can be submitted for approval. An approved name is valid for a period of twelve months.

• Form “Application for Name of Ship” (MISR/BKI/01/05) is to be used.

 

The following relevant documents are also required to be submitted  at this stage:

 

• Form “Appointment/Cancellation of an Authorised Officer” (MISR/BKI/03/05)

• Form “Application for Reserve Prefix/Suffix Name of Ship” (MISR/BKI/02/05)

 

I. Provisional Registration Process

 

Vessels are generally first registered on a provisional basis by the Registrar of Ships or a Malaysian diplomatic or consular officer. The following documents must be presented for provisional registration of the vessel:

 

1. Forms

 

• Application to Register a Ship (MISR/BKI/05/05)

• Application for Allotment of an International Call Sign (MISR/BKI/07/05)

• Declaration of Ownership and Nationality (MISR/BKI/06/05)

• Appointment / Cancellation / Change of Ship Manager (MISR/BKI/04/05).

 

2. Certificates

 

• Certificate of Approved Name

• Provisional Certificate of Survey (COS) issued by the Malaysian Ship Surveyor.

•  

 

3. Statutory declaration of ownership containing the following details:

 

• Name of the ship and its existing tonnage

• Statement of the date and place the vessel was built, or if the date and place of building are not known, a statement that the declarant does not know the date and place of the building of the ship

• Statement as to the owner of the ship and the citizenship of such owner, and if the vessel is owned by more than one person, the number of shares each is entitled

• Statement of the name of the master of the vessel and his citizenship

• Statement that no other person (other than those declared) is entitled as owner of any legal or beneficial interest in the ship or any share thereof

• Except where the operator and the owner of the ship are the same person, the name and citizenship of the operator of the ship, and

• Declaration that the particulars stated in the form are true to the best of his knowledge and belief.

 

4. For an individual – a photocopy of citizenship certificate.

 

5. For a corporation:

 

• Certified true copy of Memorandum and Articles of Association and Certificate of Incorporation

• Certification under common seal that the majority shareholding including voting shares of the corporation are not held by Malaysian citizens; and

• Authority Form appointing the public officer authorised to make a declaration on behalf of the owner.

 

6. If applicable during this stage, certification from the Customs Department that import duty has been paid. Upon due acceptance of the above documents by the MISR, the Registrar of Ships will allocate an Official Number to the vessel. Registration may be as soon as seven (7) working days for issuance of a Provisional Certificate of Registry subject to the submission of complete documentation. The Provisional Certificate of Registry is valid for a maximum period of one year from the date of its issue.

 

 

J. Permanent Registration Process

 

Vessels are generally first registered on a provisional basis by the Registrar of Ships or a Malaysian diplomatic or consular officer. The following documents must be presented for provisional registration of the vessel:

 

• Application letter

• Builder's Certificate or Deletion Certificate

• Original Bill of Sale duly authenticated

• Certified Ships Carving and Marking Note

• Permanent Certificate of Survey (COS) issued by the Malaysian Ship Surveyor; and

• If applicable, certification from the Customs Department that import duty has been paid.

 

Full registration may be as soon as seven (7) working days for the issuance of a Permanent Certificate of Registry subject to the submission of complete documentation.

 

K. Fee Schedule: Registration and Annual Tonnage Fees

 

The schedule of fees are as follows:

 

Initial Registration

 

• Vessels up to 50 tons gross – RM10.00

• Vessels over 50 to 100 tons – RM15.00

• Vessels over 100 to 200 tons – RM20.00

•  

with RM5.00 for every additional 100 tons or fraction of 100.

 

Annual Tonnage Fees

 

An annual tonnage fee of RM0.30 per gross tonnage shall be paid by the owner of a ship at the time of the initial registration or renewal of registration of the ship and thereafter annually on or before the anniversary date of the initial registration or renewal of registration, as the case may be.

 

Fee for the Issuance of a Certificate of Survey

 

1. The following fees are charged for the issuance of a Certificate of Survey:

 

• Issuance of a Certificate of Survey and amendment – RM100.00

• Inspection of the carving and marking – RM30.00

• Any other charges incurred directly by the ship surveyor on inspection of the vessel including RM230 per day or part of the day if the inspection is conducted outside Malaysia or Singapore.

 

2. The fees charged are as per The Merchant Shipping (Surveyors of Ships and Radio Surveyors) (Fees) Rules in force.

 

 

L. List of Ship Registration Forms

 

Application to Register a Ship (MISR/BKI/05/05)

Application for Name of Ship (MISR/BKI/01/05)

Application for Reserve Prefix/Suffix Name of Ship (MISR/BKI/02/05)

Declaration of Ownership and Nationality (MISR/BKI/06/05)

Appointment/Cancellation of An Authorised Officer (MISR/BKI/03/05)

Application for Allotment of An International Call Sign (MISR/BKI/07/05)

Appointment/Cancellation/Change of Ship Manager (MISR/BKI/04/05)

 

 

 

 

Our dedicated teams are more than happy to assist you in establishing, structuring and planning to register your vessel through MISR. Contact us today at info@zrctrust.com for free initial consultation without any obligation.