The Swiss Federal Council today announced a relaxation of the rules for the registration of ocean-going vessels in the Swiss Shipping Register with the aim of increasing the number of ships flying the Swiss flag. Changes to the rules will come into force in force on January 1st.

The executive pointed out that currently in Switzerland the obstacles to the registration of vessels are considerable, and In recent years, the Swiss commercial ocean-going fleet has increased reduced by about 75%. To facilitate the registration of ships and yachts, the requirements for registration will then be relaxed and in accordance with the ordinary provisions of the Code applicable to companies, removing constraints relating to the nationality of owners, beneficial owners, of business administration and management. It has also been decided to adapt the provisions so that the companies can be financed for the majority by capital of without having to meet any additional conditions, such as of other companies.

With regard to yacht registration, with the relaxation of the rules legal persons will also be able to register in their own name non-commercial vessels in the Swiss Yacht Register, a a possibility that was previously reserved exclusively individuals and associations. The adaptation of the Yacht Ordinance also provides that the validity of the of the flag certificate, which is necessary for a yacht to be can fly the Swiss flag, be extended from three to five years.

The latest data on the size of the Swiss register dating back to last March indicate the registration of only 13 ships ocean containers, all bulk carriers, for a total of 462 thousand tons of gross tonnage.