H&P is one of the most well-known law firms in Thailand providing services for private clients and high net worth individuals. Our practice for our private clients includes yacht registrations in Thailand.
The Law related to registration of vessels and yachts in Thailand is the Thai Vessel Act, BE 2481. The section 5 this Act defines the concept of Vessel meaning a very range of marine conveyance, in other words we are referring to all kind of vessels whether for Marine commerce, Fishery, pleasure vessels or Yachts. All have to register under the Law of Thai Vessel Act.
The registration of a Thai vessel under this Act will be refer to section 7 that specify the person who is eligible to hold ownership of a registered Thai vessel operating marine commerce in the territorial waters.
The text of the Thai law refers to foreigner as “alien” and the Foreign Business Act B.E. 2542(1999) defines “alien” in section 4. On this regard, H&P lawyers in Bangkok can advise a foreigner or foreign company to legally structure and proceed with the registration of Vessels and yachts in Thailand. There are two groups of registration of vessels to take into account in Thailand:
Firstly, the registration of the vessel for non-commercial, recreation and sports vehicles, pleasure vessels or Yacht. Secondly, the registration of the vessel for the purpose of commerce is regulated under section 5 that defines the meaning of Marine commerce in the territorial waters meaning passenger or goods transport or towing for seeking profit from one port or locality to another within the territorial waters of Thailand.
In 2022, H&P advised on two purchase, registration and exportation of luxury yachts in Thailand for foreign clients.
If you need professional legal advice regarding registration of yachts in Thailand, please contact our H&P Bangkok lawyers at [email protected]