The purchase, sale, transfer or financing of a yacht takes place within the registration system established by the Maritime Code: the status of the vessel, the right to fly the flag and any mortgage encumbering the vessel are reflected in the State Register of Ships of Georgia. This page explains the rules that parties to a yacht transaction should know — from the forms of registration to the maritime mortgage and its entry in the register.
The Concept of a Small Vessel and the Basis of Registration
The Maritime Code divides vessels by size: a large vessel is a floating craft whose register ton is 100 tons or more, while a small vessel is a floating craft whose register ton is less than 100 tons. Most yachts fall precisely within the small-vessel regime, and this determines the form of their certificates and the renewal procedure.
The right to use the state flag of Georgia, that is, the right of navigation, belongs to a vessel from the moment of its registration in the register, and with respect to a vessel flying the Georgian flag all forms of ownership operate. The register includes vessels owned by the state or by a Georgian natural or legal person, as well as a vessel owned by a foreign shipowner who has an authorized representative in Georgia. Georgia does not recognize parallel registration — a vessel registered in a foreign register may be entered in the Georgian register only after the suspension, termination or deletion of its registration there.