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FAQs - Transfer and Transmission

Question 1: Can  I register shares that have been transferred to me under a will or other means?  

When the Owner of a vessel or shares in a vessel  dies, the shares may be Transmitted  and not Transferred. Where shares in a registered ship are to be registered in the interested of an eligible Transmittee, such a person must complete a Declaration of Transmission (JSR ) and submit the document along with a Application for Registration on Transfer or Transmission of Shares  along with the applicable fee and proof of qualification  to own shares in a Jamaican Registered ship.   It should be noted that in all instances, only qualified individuals or companies may be registered as Owner of a Jamaican Ship.

It is to be noted that where the shares transmitted amounts to more than 50%, the Registrar-General will require that the vessel be registered Anew.  It will then be necessary to re-appoint an Authorized Representative.

Question 2: How do I register shares that have been transferred to me?

Where the shares in a Jamaican ship are transferred to a qualified Owner, the shares may be registered in the interest of the new Owner upon receipt of an Application for Registration upon Transfer or Transmission of Shares, a Declaration of Transfer, proof of qualification to own the shares and applicable Fee.  It will then be necessary to re-appoint an Authorized Representative.

It is to be noted that where the shares transferred amounts to more than 50%, the Registrar-General will require that the vessel be registered Anew.

 

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